Wednesday, April 17, 2024
HomeFunding Cambridge-based Remix Therapeutics Secures $60M in Funding

[Funding alert] Cambridge-based Remix Therapeutics Secures $60M in Funding

Cambridge-based Remix Therapeutics secures $60M in funding. Remix Therapeutics (Remix), a clinical stage biotechnology company developing small molecule therapies to modulate RNA processing and address underlying drivers of disease.

Cambridge-based Remix Therapeutics secures $60M in funding. Remix Therapeutics (Remix), a clinical stage biotechnology company developing small molecule therapies to modulate RNA processing and address underlying drivers of disease.

Remix will receive $30 million upfront and is eligible to receive up to $12 million in near-term milestone payments and up to $1 billion in milestone payments and royalties.

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Closed a collaboration and license agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY) for the discovery and development of small molecule therapeutics that modulate RNA processing using Remix’s REMaster drug discovery platform.

Under the terms of the agreement, Remix will receive an upfront payment of $30 million and are eligible to receive up to $12 million in near-term milestone payments, as well as preclinical, clinical, commercial and sales milestones of up to $1 billion and tiered royalties.

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In exchange, Roche will have exclusive rights to specific targets. Remix will conduct discovery and preclinical activities with Roche, and Roche will be responsible for development and commercialization of any resulting products.

Peter Smith, Ph.D., President and Chief Executive Officer of Remix Therapeutics said, “We’re excited to partner with a team with strong expertise and dedication to the field of interfering with targets at the RNA level, Our collaboration with Roche provides an opportunity to further leverage our REMaster drug discovery platform and translate our cutting-edge science into new medicines.”

James Sabry, Global Head of Roche Pharma Partnering said, “We have been impressed by Remix and their scientific accomplishments with their REMaster drug discovery platform,This collaboration aligns well with our strategy to join forces with partners who pursue innovative approaches to discover and develop new medicines for patients in areas of high unmet medical need.”

About Remix Therapeutics

Remix Therapeutics is a clinical stage biotechnology company developing novel small molecule therapies designed to reprogram RNA processing and treat disease. The REMasterTM technology platform facilitates RNA processing pattern identification, leveraging these learnings to modulate gene expression.

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