In a major move, Passage Bio and Remix Therapeutics have officially announced a definitive agreement to combine their businesses. The Passage Bio and Remix Therapeutics merger will create a unified clinical-stage company dedicated to advancing cutting-edge, small-molecule cancer therapies that reprogram how human cells process genetic instructions.
Remix Therapeutics’ merger with Passage Bio is structured as an all-stock deal, meaning no upfront cash is being exchanged between the entities. Upon closing, the combined enterprise will adopt the Remix Therapeutics name and is expected to trade on the Nasdaq stock market under the ticker symbol RMTX.
To bolster the newly integrated company, Remix has simultaneously secured commitments for an oversubscribed $100 million private financing round. The substantial influx of capital from Remix, combined with Passage Bio’s existing resources, establishes a robust financial path to push breakthrough cancer treatments.
Financial Details About Passage Bio and Remix Therapeutics Merger
Under the agreed terms of the Remix Therapeutics and Passage Bio deal, ownership of the post-merger entity will be split as follows:
- Remix Therapeutics Stockholders will own approximately 93% of the combined company (inclusive of the new financing investors).
- Passage Bio Shareholders will own approximately 7% of the combined entity, with adjustments based on Passage Bio’s net cash right before closing.
Remix Therapeutics’ merger with Passage Bio is slated to close in the fourth quarter of 2026, with clearances for pending customary regulatory and approval from the shareholders of both companies. Following the merger, the unified company will be led by Dr. Peter Smith, the current Co-Founder and CEO of Remix Therapeutics.
The Remix Therapeutics Acquisition To Benefit Passage Bio
The Passage Bio acquisition by Remix benefits the Passage Bio, as the company encountered severe operational roadblocks after the U.S. Food and Drug Administration (FDA) rejected its proposed clinical trial design for its lead gene therapy program, PBFT02, which targeted a rare form of dementia. This regulatory setback forced Passage Bio to downsize its workforce by 75% and seek alternative corporate paths.
According to Dr. William Chou, President and CEO of Passage Bio, joining forces with Remix represents the ideal outcome for stakeholders. Management selected Remix due to its highly differentiated scientific platform and impressive early-stage clinical data.
Remix Therapeutics’ RNA-Based Drug Development Platform
At the core of this Passage Bio and Remix Therapeutics merger is its proprietary technology platform, known as REMaster™. Unlike traditional medicines that target faulty proteins after they are made, Remix’s RNA-based drug technology targets disease drivers at the RNA level.
REM-422, a highly promising drug candidate discovered via the REMaster platform, will be the primary clinical focus of the collaboration between Passage Bio and Remix Therapeutics. REM-422 targets MYB, a specific protein that drives tumor growth in multiple cancers.
REM-422 works by degrading the RNA instructions for MYB, effectively starving the cancer cells of the protein they need to survive. The drug is currently moving through Phase 1/2 clinical trials to treat three specific diseases:
- Adenoid Cystic Carcinoma (ACC): A rare, aggressive form of cancer that typically develops in the salivary glands.
- Acute Myeloid Leukemia (AML): A fast-progressing cancer of the blood and bone marrow.
- High-Risk Myelodysplastic Syndrome (HR-MDS): A group of bone marrow disorders where the body fails to make enough healthy blood cells.
Recognizing its therapeutic potential, the FDA has granted REM-422 Orphan Drug Designation for both ACC and AML, alongside a Fast Track designation for ACC to accelerate its review process.
Future Outlook
The Passage Bio and Remix Therapeutics merger effectively repositions the corporate entity from a struggling gene therapy developer into a highly resilient leader in RNA-targeted medicine.
With a fully funded balance sheet, a powerful drug discovery platform, and an advanced clinical asset in REM-422, the merger agreement is structurally primed for long-term growth. As the broader RNA therapeutics market expands, this newly formed powerhouse is well-positioned to deliver life-changing treatments to cancer patients worldwide.
