US-based small molecule drug developer Remix Therapeutics launched on Tuesday with $81m from investors including Alexandria Venture Investments (AVI), a vehicle for real estate investment trust Alexandria Real Estate Equities.
The funding consisted of a seed round backed by Atlas Venture, The Column Group and Arch Venture Partners, and a series A round led by healthcare investment firm Foresite Capital that featured commitments from AVI and all three seed investors.
Remix is developing small molecule therapies designed to address the underlying drivers of disease by reprogramming ribonucleic acid (RNA) processes.
The company’s technology has the potential to address a number of diseases including cancer and central nervous system-based diseases. The capital will support development of its REMaster technology platform and its pipeline of RNA processing therapeutics candidates.
Remix co-founder and chief scientific officer Pete Smith said: “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.”