Remix Therapeutics™ Attains Near-Term Milestone from Roche Collaboration

Remix Therapeutics has achieved a near-term milestone in its collaboration with Roche, announced today.

Rhea-AI Summary

Remix Therapeutics has achieved a near-term milestone in its collaboration with Roche, announced today. This collaboration, initiated in January 2024, focuses on discovering and developing small molecule therapeutics that modulate RNA processing using Remix's REMaster platform. Remix received an upfront payment of $30 million and is now eligible for up to $1 billion in preclinical, clinical, commercial, and sales milestones, as well as tiered royalties. Roche gains exclusive rights to specific targets, while Remix handles discovery and preclinical activities. Roche will manage the development and commercialization of any resulting products.

Positive

• Remix received a $30M upfront payment.
• Potential to earn up to $1B in milestone payments.
• Tiered royalty payments from Roche.
• Milestone demonstrates REMaster platform's potential.

Negative

• Roche holds exclusive rights to specific targets, limiting Remix's control in certain areas.

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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

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SOURCE Remix Therapeutics

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What milestone did Remix Therapeutics achieve in its collaboration with Roche?

Remix Therapeutics achieved a near-term milestone as part of its collaboration and license agreement with Roche.

What is the value of the upfront payment received by Remix Therapeutics from Roche?

Remix Therapeutics received an upfront payment of $30 million from Roche.

How much is Remix Therapeutics eligible to receive in milestone payments from Roche?

Remix Therapeutics is eligible to receive up to $1 billion in milestone payments from Roche.

What platform does Remix Therapeutics use in its collaboration with Roche?

Remix Therapeutics uses the REMaster drug discovery platform in its collaboration with Roche.

What are the responsibilities of Roche in the collaboration with Remix Therapeutics?

Roche is responsible for the development and commercialization of any resulting products from the collaboration.