MergerJun 24, 2026, 04:06 PM
Passage Bio Merges with Remix Therapeutics; Secures $100M Funding
AI Summary
Passage Bio, Inc. and Remix Therapeutics, Inc. announced a definitive merger agreement in an all-stock transaction. The combined entity will operate as Remix Therapeutics, Inc. and is expected to trade on Nasdaq under the ticker "RMTX." Concurrently, Remix secured an oversubscribed $100 million private placement financing, which is anticipated to fund the combined company's operations into 2028, supporting key clinical milestones for its lead program, REM-422.
Key Highlights
- Passage Bio and Remix Therapeutics entered a definitive merger agreement in an all-stock transaction.
- Combined company will operate as Remix Therapeutics, Inc. and trade on Nasdaq under "RMTX".
- Remix secured an oversubscribed $100 million private placement financing led by Decheng Capital.
- Pre-merger Passage Bio shareholders to own approximately 7% of the combined company.
- Pre-merger Remix stockholders (including financing investors) to own approximately 93% of the combined company.
- Combined company's cash and cash equivalents expected to fund operations into 2028.
- Merger expected to close in Q4 2026, subject to customary conditions and stockholder approval.
- Passage Bio shareholders to receive a CVR for net proceeds from out-licensed pediatric gene therapy assets.
Price Impact
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