Putting a New Spin on RNA, Remix Launches with $81 Million
Pete Smith, Ph.D., co-founder, president and CSO of Remix Therapeutics, pitcured above. Photo courtesy of Remix.
Remix Therapeutics announced today that it is officially launching with $81 million in financing. The funds will be used to support the development of the company’s REMaster technology platform. In addition, Remix will now be able to advance its pipeline of RNA processing targeted therapeutics as well.
“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, Ph.D., 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.”
Remix is designing medicine that precisely target RNA processing to adjust how new RNA sequences are produced within the body. The therapies being developed by Remix are designed to be taken orally, which allows for therapeutic modulation throughout the body. Through targeting RNA processing, Remix is hoping to address a wide range of diseases, including various cancers and rare diseases.
“Remix is harnessing advances in data science, structural biology and chemistry to tackle disease in new and exciting ways,” said Michael Rome, Ph.D., 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.”
With the REMaster technology platform, Remix is leveraging data analytics and utilizing next-generation chemistry to advance its pipeline. The company’s approach gives researchers the opportunity to identify and target RNA processing steps to enhance or eliminate protein function.
“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, Ph.D., Chairman of the Board of Remix Therapeutics and Partner at Atlas Venture.
Remix is not the only company to launch today. SciNeuro Pharmaceuticals announced its launch this morning with $100 million in Series A financing. The funding was co-led by Lilly Asia Ventures Fund and Arch Venture Partners, and it will be used to build and advance the company’s product portfolio with a focus on the Greater China region.
SciNeuro is focused on key central nervous system (CNS) diseases for which there is an unmet need. The company hopes to establish a robust pipeline through its internal research and development and strategic partnerships.
“One in every six people in China is living with a CNS condition, yet there are relatively few effective treatments available today, underscoring the urgent need to develop and deliver novel, effective therapies. The impact of CNS diseases extends beyond patients – to their families and society as well,” said Min Li, Ph.D., founder and chief executive officer of SciNeuro. “I am humbled by the shared commitment from our investors. With their support, we are committed to addressing this substantial need by establishing a strong and innovative CNS product portfolio, and providing new and improved treatment options to patients in China and around the world.”
SciNeuro has major life sciences hubs located in both Shanghai, China, and Philadelphia, Penn.