Gemini Therapeutics, Disc Medicine Announce All-stock Merger

Gemini Therapeutics, Inc. (GMTX) and Disc Medicine, Inc., a privately held company focused on serious hematologic diseases, on Wednesday said that they have entered into an all-stock merger deal to create a new public company.

In support of the merger, Disc has secured commitments from a syndicate of healthcare investors led by Access Biotechnology and including OrbiMed, Atlas Venture, 5AM Ventures, Novo Holdings A/S, Arix Bioscience, Rock Springs Capital, and Janus Henderson Investors, for a $53.5 million.

The merger is expected to be completed in the fourth quarter.

The combined company will operate under the name of Disc Medicine, Inc. and trade under ticker "IRON" on the Nasdaq.

"The new company will focus to further boost Disc's pipeline of hematology programs, including multiple patient studies for its clinical-stage programs bitopertin and DISC-0974.," the companies said.

The combined company will have around $175 million of cash or cash equivalents which will be used to advance Disc's pipeline through multiple clinical studies and provide runway into 2025.

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