Healthcare Industry News: HSMN NewsFeed
News Release - December 8, 2020
Remix Therapeutics Launches with $81 Million Financing to Develop Small Molecule Therapies Designed to Reprogram RNA ProcessingCAMBRIDGE, Mass., Dec. 8, 2020 -- (Healthcare Sales & Marketing Network) -- Remix Therapeutics, a biotechnology company developing small molecule therapies designed to reprogram RNA processing to address the underlying drivers of disease, launched today with $81 million in financing. The funds will support development of the company's REMaster technology platform and advancement of a pipeline of RNA processing targeted therapeutics. The Series A round was led by Foresite Capital with participation from seed investors Atlas Venture and The Column Group. Additional investors joining the financing included Arch Venture and Alexandria Venture Investments.
"As we reach the limits of what is easily druggable with protein targeting therapies, reprogramming RNA processing represents an exciting new therapeutic opportunity. We believe we can precisely target the cellular complexes that process RNA to address the underlying drivers of disease, working upstream of protein expression," said Pete Smith, PhD, Co-Founder, President and CSO of Remix Therapeutics and Atlas Venture Entrepreneur in Residence. "Backed by world-class investors, a distinguished board of directors and experts in the field, the Remix team is united in its singular focus to deliver new and better ways to treat disease, especially those with limited treatment options."
While protein dysfunction is often the direct cause of disease, the root of that dysfunction often begins in a person's genetic code with changes in DNA and subsequent RNA expression. Remix is designing medicines that target RNA processing to fine-tune how new RNA sequences are produced. These are small molecule therapies designed to be taken orally, allowing for therapeutic modulation throughout the body, including the central nervous system (CNS). Targeting RNA processing has the potential to address a broad range of diseases, including cancers, CNS diseases, rare diseases, and more.
"Remix is harnessing advances in data science, structural biology and chemistry to tackle disease in new and exciting ways," said Michael Rome, PhD, Managing Director of Foresite Capital. "We believe the company is well-positioned to realize the potential of targeting RNA processing to deliver real therapeutic solutions for patients."
Fueled by its proprietary REMaster 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.
"RNA has long been considered a prime therapeutic target, but its innate complexities have made it notoriously difficult to drug. By focusing on RNA processing, the Remix team has identified a compelling way to pursue previously undruggable disease targets," said Kevin Bitterman, PhD, Chairman of the Board of Remix Therapeutics and Partner at Atlas Venture.
Remix's Board of Directors include:
- Kevin Bitterman, PhD, Chair of Remix Therapeutics, and Partner at Atlas Venture
- Michael Rome, PhD, Managing Director of Foresite Capital
- Leon Chen, PhD, Partner at The Column Group
- Scott Biller, PhD, Independent Board Member
- Peter Smith, PhD, President and CSO, Remix Therapeutics
- Kristina Burrow, Managing Director, Arch Venture, Board Observer
Remix Therapeutics is a biotechnology company developing novel small molecule therapies designed to reprogram RNA processing and treat disease in entirely new ways. Our REMaster technology platform allows us to identify patterns in RNA processing and exploit them to modulate gene expression. Our 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, remixtx.com.
About Foresite Capital
Foresite Capital funds visionary healthcare entrepreneurs. With approximately $3 billion in assets under management, Foresite Capital has a team of clinical scientists, engineers, analysts and partners who support and guide companies at all stages of their life cycles. The firm is headquartered in San Francisco with an office in New York. For more information visit www.foresitecapital.com.
About Atlas Venture
Atlas Venture is a leading biotech venture capital firm. With the goal of doing well by doing good, Atlas have been building breakthrough biotech startups for over 25 years, working side by side with exceptional scientists and entrepreneurs to translate high impact science into medicines for patients. Their seed-led venture creation strategy rigorously selects and focuses investment on the most compelling opportunities to build scalable businesses and realize value. For more information, please visit www.atlasventure.com.
About The Column Group
The Column Group is a leading venture capital firm based in San Francisco that seeks to partner with exceptional scientific founders, entrepreneurs, executives, and investment organizations with a shared vision for building the next generation of drug discovery and development companies. TCG invests in disease-focused drug discovery companies with the potential to become leaders in their respective fields. These companies are strongly supported by the unique and complementary skill sets of TCG's team, which includes prominent authorities in the scientific, operational, and financial arenas.
Source: Remix Therapeutics
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.