Press Release October 16, 2020

Gemini Therapeutics And FS Development Corp. Announce $216 Million Merger Agreement Creating Publicly Listed Precision Medicine Company Focused On Age-Related Macular Degeneration

The Life Sciences and Special Purpose Acquisition Companies (SPACs) teams advised Gemini Therapeutics on its definitive business combination agreement with FS Development Corp. (Nasdaq: FSDC), a special purpose acquisition company sponsored by Foresite Capital.

Gemini Therapeutics is a clinical stage precision medicine company developing innovative treatments for age-related macular degeneration (AMD) by developing drugging strategies that are matched to specific genetic mutations found in patients with high clinical unmet need.

In addition to the approximately $121 million held in FS Development Corp.’s trust account (assuming no redemptions are effected), a group of premier healthcare investors has committed to participate in the transaction through a common stock PIPE of approximately $95 million at $10 per share. Upon closing of the transaction, the company will be renamed “Gemini Therapeutics, Inc.”

The Goodwin SPAC team was led by Jocelyn Arel and Dan Espinoza. The Goodwin life sciences team was led by Mitchell Bloom and Laurie Burlingame.

For more details, read the press release and articles in Endpoints, Forbes, and Seeking Alpha.