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Janssen will pay upwards of $1 billion for exclusive rights to use Remix’s RNA-based drug discovery platform on three specific targets.
Remix Therapeutics, a biotechnology company focusing on reprogramming RNA processing, announced a strategic collaboration with Janssen Pharmaceutica NV on Feb. 17, 2022. The strategic partnership will see Janssen use Remix’s REMaster drug discovery platform for the discovery and development of small molecule therapeutics that modulate RNA processing.
Per the terms of the agreement, Janssen will have exclusive rights to three specific targets with applications in oncology and immunology. In exchange, Remix will receive an initial payment of $45 million, but could receive over $1 billion in payments should it meet regulatory approvals and various other conditions.
“We look forward to collaborating with this innovative team,” said Peter Smith, co-founder and CEO of Remix Therapeutics, in a company press release. “Janssen is an ideal strategic partner for our REMaster platform. This collaboration further validates the therapeutic potential of our proprietary REMaster drug discovery platform and provides additional resources to translate our cutting-edge science into new medicines.”
Source: Remix Therapeutics