Foresite Capital-backed FS Development to merge with Gemini Therapeutics in a $216m deal.

Foresite Capital-backed FS Development, a special purpose acquisition company, agreed to merge with Gemini Therapeutics, a clinical stage precision medicine company, in a $216m deal. "Gemini embodies the type of company we had in mind when forming FSDC: a platform focused on the next generation of medicines utilizing genetics. Gemini is developing treatments for patients losing their vision because of genetically driven macular degeneration. We are excited about the tremendous potential of this transaction, which we believe creates value for investors along with the potential to bring innovative new treatment options to patients," Jim Tananbaum, Foresite Capital CEO.