Remix Closes $70 Million Financing to Advance RNA Reprogramming Platform
May 17, 2022
Remix Therapeutics, a company developing small molecule therapies designed to reprogram RNA processing and address the underlying drivers of disease, said it closed a $70 million series B financing to support development of the company’s REMaster technology platform and advancement of a pipeline of RNA processing targeted therapeutics.
Surveyor, a Citadel company, joined the series B syndicate alongside existing investors Foresite Capital, Atlas Venture, The Column Group, Arch Venture Partners, Alexandria Venture Investments, and Casdin Capital.
“This financing will support further development of our REMaster platform, which enables the design of molecules that can selectively degrade RNA, enhance RNA expression, induce exon skipping, or rescue genetic lesions. This technology will transform how diseases are treated,” said Peter Smith, co-founder and CEO of Remix Therapeutics.
The REMaster technology platform, which leverages data analytics, custom high-throughput screening technologies, and next generation chemistry, makes it possible to identify patterns in RNA processing and exploit them to modulate gene expression. The company is advance a pipeline of therapies that have the potential ability to precisely identify and target RNA processing steps to enhance or eliminate protein function, or to correct dysregulation in disease. In other words, Remix says it can alter the way genes are read from the genome to correct, enhance, or eliminate the gene message, thereby addressing disease drivers at their origin.
“Drug discovery has primarily centered on targeting proteins but many genetically validated disease mechanisms and targets remain unaddressed,” said Michael Rome, managing director at Foresite Capital. “Alternate approaches to building new medicines are needed, so we are thrilled to support Remix’s mission to create a new set of tools to not only treat disease in new ways, but to treat diseases more effectively.”
Remix recently entered a strategic collaboration with Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson, for the discovery and development of small molecule therapeutics that modulate RNA processing using Remix’s REMaster drug discovery platform.
Author: Rare Daily Staff
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