Remix Therapeutics to Merge With Passage Bio

Remix Therapeutics and Passage Bio have agreed to merge in an all-stock transaction, creating a combined biotechnology company focused on advancing RNA-targeted therapies for cancer and other serious diseases. The deal is backed by a new $100 million private financing, providing the merged company with the resources needed to advance its clinical pipeline through several key development milestones.

Following the completion of the transaction, the combined company will operate under the name Remix Therapeutics, Inc. and is expected to trade on the Nasdaq stock exchange under the ticker symbol “RMTX.”

Alongside the merger announcement, Remix revealed that it has secured commitments for an oversubscribed private placement financing led by Decheng Capital, with participation from Lynx1 Capital Management, Forge Life Science Partners, existing investors, and several other institutional investment firms. The financing is expected to close immediately before the merger is finalized.

The combined company expects its cash position, including proceeds from the private placement, to fund operations into 2028. The funding is intended to support several important clinical milestones, including data from the registrational Phase 2 trial of REM-422 in Adenoid Cystic Carcinoma (ACC), results from a Phase 1 trial evaluating the therapy in Acute Myeloid Leukemia (AML) and high-risk myelodysplastic syndrome (HR-MDS), as well as continued investment in Remix’s discovery pipeline.

The merger strengthens Remix’s position as it develops a new class of small-molecule medicines designed to modulate RNA processing. Unlike conventional therapies that target proteins directly, Remix’s platform focuses on controlling how RNA is processed inside cells, offering the potential to treat diseases driven by genetic abnormalities that have historically been difficult to target with existing drugs.

At the center of the company’s pipeline is REM-422, an orally administered mRNA degrader that targets MYB, a transcription factor involved in several cancers. MYB has long been considered one of the most challenging cancer targets for drug developers, making REM-422 a potentially significant advance if ongoing clinical studies continue to produce positive results.

Peter Smith, Ph.D., co-founder and Chief Executive Officer of Remix Therapeutics, described the merger as a transformative milestone for the company. He said the transaction provides the financial strength and operational support needed to accelerate the development of RNA-targeted medicines while expanding the company’s proprietary platform.

Smith added that the financing and merger position Remix to rapidly advance REM-422 and other pipeline candidates, with the goal of delivering innovative treatment options for patients with cancers that currently have limited therapeutic choices.

For Passage Bio, the agreement follows an extensive review of strategic alternatives aimed at maximizing shareholder value. President and Chief Executive Officer Dr. Will Chou said Remix emerged as the ideal partner because of its differentiated RNA processing technology and encouraging early clinical data for REM-422 in adenoid cystic carcinoma.

Chou noted that the ongoing registrational study, combined with the company’s experienced leadership team, offers Passage Bio shareholders the opportunity to participate in a clinical-stage biotechnology company with a clearly defined path toward pivotal clinical data.

The merger reflects growing investor confidence in RNA-based drug development, an area that has attracted increasing attention across the biotechnology industry. By combining Passage Bio’s public company infrastructure with Remix’s clinical-stage pipeline and fresh capital, the new organization aims to accelerate the development of innovative RNA-targeted therapies and expand treatment options for patients with difficult-to-treat cancers.