The collaboration leverages Remix’s REMaster™ platform to discover novel drugs for a diverse range of target classes
Remix is eligible to receive up to $1 billion in milestone payments and royalties
WATERTOWN, Mass., July 10, 2024 /PRNewswire/ — Remix Therapeutics (Remix), a clinical-stage biotechnology company developing small molecule therapies to modulate RNA processing and address underlying drivers of disease, today announced that it has attained the near-term milestone as part of its 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.
“Completing this milestone further demonstrates the power and potential of the REMaster platform, purpose-built to identify novel, druggable RNA processing mechanisms,” said Peter Smith, Ph.D., Co-Founder and Chief Executive Officer of Remix. “We are incredibly proud of the research team’s accomplishments, which bring us closer towards potentially developing new, small molecule medicines for patients.”
Under the terms of the agreement, which was announced in January 2024, Remix received an upfront payment of $30 million in addition to a near-term milestone payment and is eligible for 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.
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 REMaster™ technology platform facilitates RNA processing pattern identification, leveraging these learnings to modulate gene expression. Remix’s innovative therapeutic approach has the potential 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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