MergerJun 24, 2026, 04:22 PM
Passage Bio and Remix Therapeutics Announce Merger Agreement
AI Summary
Passage Bio, Inc. and Remix Therapeutics, Inc. announced a definitive merger agreement, with the combined entity to operate as Remix Therapeutics and trade on Nasdaq under "RMTX". The transaction includes a concurrent oversubscribed $100 million private placement financing for Remix, which is expected to fund the combined company's operations into 2028. Pre-merger Passage Bio shareholders will own approximately 7% of the combined company and receive Contingent Value Rights (CVRs) for out-licensed assets.
Key Highlights
- Passage Bio and Remix Therapeutics entered into a definitive merger agreement.
- The combined company will operate as Remix Therapeutics, trading under the ticker "RMTX".
- Pre-merger Passage Bio shareholders are expected to own approximately 7% of the combined company.
- Pre-merger Remix stockholders (including financing investors) are expected to own approximately 93%.
- Remix secured an oversubscribed $100 million private placement financing.
- The combined company's cash and cash equivalents are anticipated to fund operations into 2028.
- Passage Bio shareholders will receive a Contingent Value Right (CVR) for out-licensed assets.
- The merger is expected to close in the fourth quarter of 2026.
Price Impact
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