Roche Collaborates with Remix to Develop Small Molecules That Modulate RNA Processing
January 3, 2024
Rare Daily Staff
Remix Therapeutics, a clinical stage biotechnology company developing small molecule therapies to modulate RNA processing and address underlying drivers of disease, entered a collaboration and license agreement with Roche 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 is 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. 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.
“Our collaboration with Roche provides an opportunity to further leverage our REMaster drug discovery platform and translate our cutting-edge science into new medicines,” said Peter Smith, president and CEO of Remix Therapeutics.
At the same time, Remix Therapeutics raised $60 million in financing from lead investor The Column Group, with 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, in development for two rare cancers, and further advancement of a pipeline of RNA processing targeted 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,” said Smith.
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 says its 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.
Photo: Peter Smith, president and CEO of Remix Therapeutics
Sign up for updates straight to your inbox.