LONDON, 30 December 2022: Arix Bioscience plc (“Arix” or the “Company”) (LSE: ARIX), a global venture capital company focused on investing in breakthrough biotechnology companies, notes that its portfolio company, Disc Medicine, Inc. (“Disc”), has today completed its previously announced merger with Gemini Therapeutics, Inc. (“Gemini”), following the approval of Gemini shareholders.

The combined company will focus on advancing Disc’s pipeline of haematology programs. It will operate under the name Disc Medicine, Inc. and its shares will commence trading on the Nasdaq Global Market under the ticker symbol IRON.

Concurrent with the closing of the merger, Disc completed a $53.5 million financing in which Arix participated alongside an investor syndicate of healthcare investors, led by Access Biotechnology and included OrbiMed, Atlas Venture, 5AM Ventures, Novo Holdings A/S, Rock Springs Capital, and Janus Henderson Investors. The projected cash and cash equivalents as of the close of the business combination are expected to be approximately $175 million, providing operating runway into 2025.

“We are thrilled to see the completion of Disc’s merger with Gemini and its concurrent fundraise, which positions Disc well to build on the rapid progress made in its diversified clinical stage pipeline of products. This merger, completing 15 months since our first investment in Disc, is testament to the strength of Arix’s refocused strategy to invest in companies with nearer-term value inflection points, and we look forward to seeing further progress in its product pipeline, importantly focused on diseases of unmet medical need.”

Robert Lyne, CEO of Arix Bioscience