• The combined company will trade as Disc Medicine and will trade on the Nasdaq Global Market under the ticker symbol “IRON”.
• Approximately $175 million in cash and cash equivalents to provide an operational airstrip by 2025

WATERTOWN, Mass., Dec. 29, 2022 (GLOBE NEWSWIRE) — Disc Medicine, Inc. (“Disc”), a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel treatments for patients suffering from serious hematologic disorders, announced today announced that its previously announced merger with Gemini Therapeutics, Inc. (“Gemini”) was completed on December 29, 2022, following approval by Gemini stockholders. The combined company, which is focused on advancing Disc’s hematology program pipeline, will operate as Disc Medicine, Inc. and its shares will trade on a reverse split-adjusted basis of 1- 10, the Nasdaq Global Market traded under the ticker symbol IRON.

Concurrent with the closing of the merger, Disc completed a $53.5 million financing from a consortium of healthcare investors led by Access Biotechnology, including OrbiMed, Atlas Venture, 5AM Ventures, Novo Holdings A/S, Arix Bioscience , Rock Springs Capital and Janus Henderson Investors. Forecast cash and cash equivalents at the closing of the business combination are expected to be approximately $175 million providing an operational runway through 2025.

“The completion of this merger and the concomitant financing marks a transformative moment in Disc’s growth and ensures we are well positioned to advance our portfolio of innovative, potentially best-in-class therapeutic candidates through key development milestones,” said John Quisel, JD , Ph.D., Chief Executive Officer and President of Disc. “We are excited to enter the new year with multiple programs in the clinic, a robust development pipeline and the financial strength of this merger. We look forward to maintaining this momentum and…