On February 17, 2022 Remix Therapeutics (Remix), a biotechnology company developing small molecule therapies designed to reprogram RNA processing and address the underlying drivers of disease, reported a strategic collaboration with Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for the discovery and development of small molecule therapeutics that modulate RNA processing using Remix’s REMaster drug discovery platform (Press release, Janssen Pharmaceutica, FEB 17, 2022, View Source [SID1234608228]). The agreement was facilitated by Johnson & Johnson Innovation.
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Under the terms of the agreement, Remix will receive an initial payment of $45 million in cash for upfront and research funding, and may also receive preclinical, clinical, commercial, and sales milestone payments and tiered royalties for any resulting products. In exchange, Janssen will have exclusive rights to three specific targets with applications in immunology and oncology. Remix will have the ability to opt into a portion of the costs of clinical development on one program in exchange for higher royalties. Under the agreement, Remix is eligible to receive total payments potentially exceeding $1 billion, subject to regulatory approvals and other conditions.
"We look forward to collaborating with this innovative team," said Peter Smith, Ph.D., Co- Founder and Chief Executive Officer of Remix Therapeutics. "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."