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Gemini Therapeutics to Merge with Rare Blood Disorder Specialist Disc Medicine.

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MANews-(C)2009-2022

US-based precision medicine company Gemini Therapeutics, Inc. (NASDAQ: GMTX) and US-based biopharmaceutical company Disc Medicine, Inc have entered into a definitive merger agreement to combine the companies in an all-stock transaction, the companies said.

The combined company will focus on advancing Disc's pipeline of hematology programs, including multiple patient studies for its clinical-stage programs bitopertin and DISC-0974.

Upon shareholder approval, the combined company is expected to operate under the name Disc Medicine, Inc. and trade on the NASDAQ Global Market under the ticker symbol IRON.

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 USD 53.5m financing that is expected to close concurrent with the completion of the merger.

With the cash expected from both companies at closing and the proceeds of the concurrent financing, the combined company is currently expected to have approximately USD 175m of cash...

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