Healthcare Industry News: HSMN NewsFeed
News Release - May 17, 2022
Remix Therapeutics Closes $70 Million Series B FinancingSupports Novel Small Molecule Therapeutic Approach Designed to Reprogram RNA Processing and Modulate Gene Expression
CAMBRIDGE, Mass., May 17, 2022 -- (Healthcare Sales & Marketing Network) -- Remix Therapeutics (Remix), a biotechnology company developing small molecule therapies designed to reprogram RNA processing and address the underlying drivers of disease, today announced the close of a $70 million Series B financing. 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. The funds will support development of the company's REMaster technology platform and advancement of a pipeline of RNA processing targeted therapeutics.
"We are pleased to announce this Series B financing that reflects the significant progress we have made to advance our novel platform and programs modulating RNA processing. With the support of our new and existing investors, we will continue on our path to address disease drivers at their origin," said Peter Smith, Ph.D., Co-Founder and Chief Executive Officer of Remix Therapeutics. "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."
Fueled by its proprietary technology platform, Remix is leveraging the power of data analytics, bespoke high-throughput screening technologies, and next generation chemistry to advance a pipeline of breakthrough therapies. The company's innovative approach has the unique ability to precisely identify and target RNA processing steps to enhance or eliminate protein function, or to correct dysregulation in disease.
"Drug discovery has primarily centered on targeting proteins but many genetically validated disease mechanisms and targets remain unaddressed. 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," said Michael Rome, PhD, Managing Director at Foresite Capital.
Remix recently entered into a strategic collaboration with Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for the discovery and development of small molecule therapeutics that modulate RNA processing using Remix's REMaster drug discovery platform.
About Remix Therapeutics
Remix Therapeutics is a biotechnology company developing novel small molecule therapies designed to reprogram RNA processing and treat disease in entirely new ways. The REMaster technology platform makes it possible to identify patterns in RNA processing and exploit them 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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