Gemini Therapeutics has signed a definitive agreement to merge with Disc Medicine in an all-stock deal to create a clinical-stage biopharmaceutical company.
To support the merger, Disc raised funds worth $53.5m from a group of healthcare investors led by Access Biotechnology and also include OrbiMed, Atlas Venture and 5AM Ventures, among others.
The merged company is expected to be named Disc Medicine, which will have corporate headquarters in Watertown, Massachusetts, US.
It will be valued at nearly $175m in cash or cash equivalents.
The proceeds from the business combination will be utilised to advance the pipeline of Disc to clinical trials and offer funding into 2025.
Disc focuses on discovering and developing new therapies for patients with serious haematologic ailments.
Following the combination, the merged business will work on progressing…
