Gemini Therapeutics and Disc Medicine agree to a reverse merger

10 August 2022

Gemini Therapeutics (Nasdaq: GMTX) and privately-held clinical-stage Disc Medicine today announced a merger agreement to create a NASDAQ-listed, clinical stage biopharma focused on advancing Disc’s pipeline of hematology programs.

Upon shareholder approval, the combined company expects to operate as Disc Medicine Inc, trading under ticker symbol IRON. Gemini’s shares dipped 1.9% to $1.53 by late morning.

The combined company will focus on advancing Disc’s portfolio of novel agents being developed for patients with serious hematologic diseases, including clinical stage assets bitopertin (GlyT1 inhibitor) and DISC-0974 (MAb targeting hemojuvelin co-receptor). Both are big pharma castoffs: bitopertin came from Roche (ROG: SIX), while DISC-0974 was part of Disc’s anemia-focused licence from AbbVie (NYSE: ABBV).

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