Business
Gemini Therapeutics Reports Full Year 2020 Financial Results and Provides Business Update
- Business combination with FS Development Corp. resulted in new public listing, strengthened management team, and cash position of approximately $200
About this update from Disc Medicine, Inc.
[{"type":"text","content":"\n- Business combination with FS Development Corp. resulted in new public listing, strengthened management team, and cash position of approximately $200 million \n\n- Significantly advanced GEM103 clinical development; completed Phase 2a “ReGAtta” study enrollment; initiated Phase 2a study of GEM103 as a possible add-on for patients with wet AMD at risk for macular atrophy\n\n CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nGemini Therapeutics, Inc. (Nasdaq: GMTX), a clinical stage precision medicine company developing innovative treatments for genetically defined age-related macular degeneration (AMD), today reported its financial results for the year ended December 31, 2020 and provided a business update.\n\n“The past 12 months have been truly transformative for Gemini as we successfully transitioned to a publicly traded precision medicine company with a strong balance sheet and resources to advance to important clinical milestones,” said Jason Meyenburg, Chief Executive Officer of Gemini Therapeutics, Inc. “The successful completion of the Phase 1 study provided encouraging safety results and biomarker evidence GEM103 has biological activity consistent with functioning CFH. These results provided us the confidence to advance into two Phase 2a trials from which we expect to see initial data later this year. Our open-label Phase 2a ReGAtta study in patients with genetically-defined dry AMD completed enrollment in February. Also in February, we initiated a Phase 2a study of GEM103 as a potential add-on therapy for patients treated with anti-VEGF for wet AMD who are at risk for macular atrophy. We are committed to the further development of these innovative potential new treatments for patients and look forward to sharing our progress throughout the year.”\n\nRecent Business Highlights\n\n\nDebuted as a publicly traded precision medicine company focused on genetically defined age-related macular degeneration (AMD) following the closing of a business combination with FS Development Corp (FSDC). In February 2021, Gemini Therapeutics closed the business combination with FSDC, a special purpose acquisition company (SPAC) sponsored by Foresite Capital. Also in February 2021, the Company expanded its leadership team with the appointment of Brian Piekos as Chief Financial Officer and the promotion of Walter R. Strapps, Ph.D., to Chief Scientific O...