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A no-fanfare all-stock reverse merger that put Remix Therapeutics in the public markets via Passage Bio's shell, with Remix holders taking ~93% and Passage investors left with a thin 7% stake plus a contingent value right on the legacy gene-therapy pipeline. The deal funds Remix's oral MYB degrader REM-422 into 2028, though Passage shareholders got little more than an exit ramp.
Remix takes Passage Bio's Nasdaq listing to advance oral mRNA degrader
Full analysis, sources & comparables →On June 24, 2026, Remix Therapeutics announced it will go public via an all-stock reverse merger with Passage Bio (Nasdaq: PASG), a gene-therapy company co-founded by Jim Wilson. Concurrent with the deal, Remix secured commitments for a $100 million private financing closing just before the merger. Remix investors will own ~93% of the combined company and Passage holders ~7% plus a contingent value right tied to Passage's licensed pediatric gene-therapy assets. The combined company will trade as Remix under ticker RMTX and advance REM-422, an oral MYB mRNA degrader in a Phase 1/2 study in adenoid cystic carcinoma (ACC) and a Phase 1 study in AML/high-risk MDS. Cash is expected to fund operations into 2028; close expected Q4 2026.
Remix Therapeutics' lead candidate REM-422 is an oral small-molecule mRNA degrader designed to reduce MYB oncogene expression. It is in a Phase 1/2 study in adenoid cystic carcinoma (ACC) and a Phase 1 study in acute myeloid leukemia and high-risk myelodysplastic syndromes. Remix reaches Nasdaq via reverse merger with Passage Bio plus a $100M financing; the combined company (ticker RMTX) expects cash to fund operations into 2028. Deal terms are an all-stock reverse merger (value undisclosed).
Remix Therapeutics to go public via all-stock reverse merger with Passage Bio plus a $100M financing; Remix holders to own ~93%, combined company renamed Remix (Nasdaq: RMTX). Close expected Q4 2026.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Remix Therapeutics, Inc. / Passage Bio, Inc. (this deal) | 2026 | $226M | 61 |
| AstraZeneca PLC / Daiichi Sankyo Company, Limited | 2019 | $6.9B | 100 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Astellas Pharma Inc. / Seagen Inc. | 2009 | $4.5B | 95 |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Servier / Agios Pharmaceuticals (oncology) | 2020 | $2.0B | 91 |
| Servier Pharmaceuticals LLC / Agios Pharmaceuticals Inc. | 2020 | $2.0B | 91 |
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