Passage Bio and Remix Therapeutics enter all-stock merger agreement

Corporate Action
โดย RTTNews·Read original
Summary · why it matters

Passage Bio and Remix Therapeutics have entered into a definitive all-stock merger agreement. Remix has secured an oversubscribed private placement financing expected to generate approximately $100 million from new investors led by Decheng Capital. Under the deal, Passage Bio shareholders will own about 7% of the combined company, while Remix stockholders will own about 93%, and Passage shareholders will receive a contingent value right tied to milestone payments on out-licensed pediatric gene therapy assets. The combined company will operate as Remix Therapeutics and trade on Nasdaq under the ticker RMTX, with cash expected to fund operations into 2028 through key clinical milestones including a registrational Phase 2 trial of REM-422 in adenoid cystic carcinoma. Passage Bio stock fell 9.01% in pre-market trading to $5.35.

Impact on stocks 1

Biotech & Genomic Medicine▼ · 1 stocks
Passage Bio Inc
PASG
▼ NegativeCapitalrelevance

Passage Bio shareholders will own only 7% of the combined company, and stock fell 9.01% on the deal terms.

Off-coverage companies 2

Remix TherapeuticsPrivate▲ Positive
Capitalrelevance

Remix Therapeutics is the acquirer, will trade under its ticker RMTX, and secured $100M financing to fund operations into 2028.

Decheng CapitalPrivate▲ Positive
Capitalrelevance

Decheng Capital led the oversubscribed private placement, indicating investor confidence.

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