Remix Therapeutics Closes $60 Million Financing to Advance REM-422, Pipeline of Small Molecule Therapies Designed to Reprogram RNA Processing to Treat Disease

2024-01-03

siRNA

CAMBRIDGE, Mass., Jan. 3, 2024 /PRNewswire/ -- Remix Therapeutics (Remix), a clinical-stage biotechnology company developing small molecule therapies to modulate RNA processing and address the underlying drivers of disease, today announced the close of a $60 million financing led by The Column Group. The financing includes participation from existing investors Atlas Venture, Foresite Capital, Alexandria Venture Investments, Arch Venture Partners, Casdin Capital, and Surveyor (a Citadel company) along with new investors WTT Investment, Willett Advisors, and others. The funds will support clinical development of the company's lead program, REM-422, and further advancement of a pipeline of RNA processing targeted therapeutics.

"We are proud of and encouraged by the support of such a strong syndicate of investors who believe in Remix's ability to develop novel small molecule therapies designed to reprogram RNA processing and treat disease in entirely new ways," Peter Smith, Ph.D., Co-Founder and Chief Executive Officer of Remix Therapeutics. "This financing enables us to continue development of our pipeline and advance our lead program, REM-422, into the clinic for the treatment of adenoid cystic carcinoma and acute myeloid leukemia/myelodysplastic syndromes this year."

Fueled by its proprietary technology platform, Remix is leveraging the power of data analytics and machine learning, bespoke high-throughput screening technologies, and next generation chemistry to advance a pipeline of breakthrough therapies designed to precisely modulate RNA processing. The company's innovative approach has the unique ability to identify and target RNA processing steps to degrade mRNA, enhance RNA production, or to correct RNA dysregulation in disease. Remix's lead candidate, REM-422, is expected to enter two Phase 1 clinical studies for the treatment of recurrent or metastatic adenoid cystic carcinoma and acute myeloid leukemia/myelodysplastic syndromes in 2024.

"Remix has made significant progress over the last several years demonstrating pre-clinical proof-of-concept for several RNA processing programs discovered using its novel platform," said Peter Svennilson, Founder and Managing Partner of The Column Group. "We look forward to Remix realizing the full potential of its unique approach, advancing small molecules that can control gene expression to effectively treat a broad range of diseases."

About Remix Therapeutics

Remix Therapeutics is a biotechnology company developing novel small molecule therapies designed to reprogram RNA processing and treat disease. RNA processing is the pathway that controls gene and protein expression. The REMaster technology platform facilitates RNA processing pattern identification, leveraging these learnings to identify and target key RNA processing steps to modulate gene expression. Remix's innovative therapeutic approach has the ability to alter the way genes are read from the genome, to correct, enhance, or eliminate the gene message, thereby addressing disease drivers at their origin. For more information visit www.remixtx.com.

SOURCE Remix Therapeutics

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