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Gemini Therapeutics: Precision Medicine Company Focused On Dry AMD

Numenor Capital profile picture
Numenor Capital


  • Gemini Therapeutics is bringing precision medicine and genomics to Dry AMD, a disease without an FDA-approved medicine.
  • By focusing on CFH variants of Dry AMD, which represent over 6M patients in the US, the company is the first to bring a recombinant CFH into the clinic.
  • Gemini's lead drug candidate, GEM103, is in phase 2 trials with a top line readout in the first half of 2021 and successive ones over the next 1-2 years.
  • With a unique business model in AMD, Gemini is an exciting investment in a market leader with the potential to set the standard-of-care in Dry AMD.

Source: Company


Gemini Therapeutics (GMTX) is a precision medicine company developing new drugs for age-related macular degeneration ("AMD") along with retinal disease in general and systemic diseases driven by complement. The company recently went public through a SPAC to develop their lead asset, GEM103, in a genetically-defined population of Dry AMD. Gemini is building a unique business model by bringing genomics to AMD and along with a wide set of modalities from monoclonal antibodies and other biologics to adeno-associated virus ("AAV") gene therapies.

Gemini is the first company to create a functional, recombinant Complement Factor H ("CFH"). The clinical premise is to use the biologic to regulate complement activation in Dry AMD and treat patients with mutations in the CFH gene. The lead drug candidate is focused on restoring CFH activity in patients to treat complement hyperactivity in Dry AMD and restore the health of the retina. Versus inhibiting complement, which could lead to a lower therapeutic index and toxicity, the biological hypothesis of using a recombinant CFH is to both down-regulate complement and maintain a homeostatic environment in the eye. This premise has a chance to expand the number of treated patients due to lower side effects. In the US, there are around 15M patients with dry AMD with ~6M of them having loss-of-function ("LoF") CFH variants. The disease is characterized by loss of photoreceptors, invasion of choroidal vessels into the retina, and ultimate vision loss. There are no approved treatments for Dry AMD patients. This represents a large unmet clinical need for Gemini to address. The company’s unique approach to augment CFH activity has the potential to bring a new medicine to Dry AMD patients but more broadly treat other complement-related diseases.

The company has invested into natural history trials to evaluate the prevalence and pathogenesis of

This article was written by

Numenor Capital profile picture
Ladybug Ideas (fka as NC) focuses on value and events in life sciences. Finding unique business models, initially ignored markets, growing product offerings, and compelling teams. Version 2. ladybugideas7@gmail.com

Analyst’s Disclosure: I am/we are long GMTX. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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