Passage Bio, Remix Therapeutics Sign All-Stock Business Combination Agreement; Combined Entity To Operate Under Remix Therapeutics, RMTX Ticker On Nasdaq

Passage Bio, Inc. (Nasdaq: PASG) ("Passage Bio") and Remix Therapeutics, Inc. ("Remix"), a clinical-stage biotechnology company developing small molecule therapies to modulate RNA processing and address the underlying drivers of disease, today announced that they have entered into a definitive merger agreement to combine in an all-stock transaction. Upon completion of the transaction, the combined company plans to operate under the name Remix Therapeutics, Inc. and expects to trade on Nasdaq under the ticker symbol "RMTX."

In connection with the proposed merger, Remix has secured commitments for a concurrent oversubscribed private placement financing that is expected to result in total gross proceeds of approximately $100 million from a syndicate of new investors led by Decheng Capital, with participation from Lynx1 Capital Management, Forge Life Science Partners, existing investors and other leading investment management firms.