Gemini Therapeutics Appoints Brian Piekos as Chief Financial Officer

Rhea-AI Summary

Gemini Therapeutics (Nasdaq: GMTX) has appointed Brian Piekos as Chief Financial Officer, bringing over 20 years of financial and industry experience. Under CEO Jason Meyenburg's leadership, Gemini aims to develop first-in-class medicines for genetically defined age-related macular degeneration (AMD). Piekos, formerly with AMAG Pharmaceuticals, emphasizes the promise of their lead program, GEM103, targeting genetically-defined AMD patients. Approximately 40% of dry AMD patients possess risk variants in the complement factor H gene, highlighting the need for treatments like GEM103.

Positive

• Appointment of Brian Piekos as CFO expected to enhance financial strategy and governance.
• Piekos' extensive industry experience may bring valuable insights for ongoing product development.
• GEM103 shows promising safety profile with ongoing trials, positioning the company for potential growth.

Negative

• Concerns over continuity and experience gaps in management after a significant executive change.

Gemini Therapeutics, Inc., (Nasdaq: GMTX) a clinical stage precision medicine company developing innovative treatments for genetically defined age-related macular degeneration (AMD), today announced that Brian Piekos has been appointed to serve as Chief Financial Officer. Mr. Piekos brings more than 20 years of experience in industry and finance to Gemini.

“It is my pleasure to welcome Brian to the team at this exciting time in Gemini’s history right on the heels of our debut as a public company,” said Jason Meyenburg, Chief Executive Officer of Gemini. “Brian’s deep financial experience and results-driven attitude will be invaluable to us as we continue to develop first-in-class medicines, using insights in genetics and biology, to restore regulation of the complement system in the eye and throughout the body.”

“I look forward to bringing my unique perspective and industry experience to this seasoned leadership team and supporting Gemini on their path to see disease differently,” said Mr. Piekos. “With the promising safety profile demonstrated by GEM103 to date, and more trials underway, I believe Gemini is positioned for incredible value.”

Mr. Piekos joins Gemini from AMAG Pharmaceuticals, where he was most recently Executive Vice President, Chief Financial Officer and Treasurer. Prior to joining AMAG, he held leadership roles in Corporate Finance, Tax and Treasury at Cubist Pharmaceuticals. Mr. Piekos began his career as a healthcare investment banker at Needham & Company and Leerink Partners, now SVB Leerink. Mr. Piekos earned his MBA from the Simon Business School at the University of Rochester. He obtained an M.S. in molecular biology from the University of Massachusetts Medical School and a B.A. in biochemistry from Ithaca College.

About GEM103

Gemini’s lead program, GEM103, is a pioneering precision medicine approach, targeting trial enrichment with genetically-defined patients. GEM103 targets a genetically-defined subset of age-related macular degeneration (AMD) patients with complement dysregulation. Of the 15 million dry AMD patients, approximately 40% (or six million) have variants in the complement factor H (CFH) gene. Such loss-of-function variants are associated with increased dry AMD disease risk. GEM103 is believed to be the first ever recombinant native complement modulator, full-length recombinant complement factor H (rCFH) protein. When delivered by intravitreal injection, GEM103 has the potential to address unmet medical need in genetically-defined subsets of AMD patients by circumventing dysfunctional CFH loss-of-function variants and slowing the progression of their retinal disease.

About Dry Age-Related Macular Degeneration (AMD)

Age-related macular degeneration (AMD) is a progressive retinal disease affecting millions of older adults, and the leading cause of irreversible blindness in the western world. Symptoms, which include blurry vision, loss of night vision and loss of central vision, make activities of daily living such as reading, driving and even recognizing faces progressively more difficult. Third-party reports indicate there are approximately 16 million patients with AMD in the United States alone. Dry AMD, which results from an interaction of environmental and genetic risk factors, represents about 90% of that population (or about 15 million) in the US compared to about 1.4 million with wet AMD. Genetic risk of developing dry AMD is significant, with approximately 70% attributable risk of advanced disease to heritability, while aging and smoking confer the strongest non-genetic risk. CFH risk variants occur in approximately 40% of patients with dry AMD and these patients have a significantly increased risk of developing the disease as well as progression from intermediate AMD to GA. The complement system, of which CFH is a modulator, is dysregulated in patients with these risk variants, and results in amplification of aberrant inflammatory responses in the eye. Over time, this dysregulation leads to damage to the macular region of the retina.

About Gemini Therapeutics

Gemini Therapeutics is a clinical stage precision medicine company developing novel therapeutic compounds to treat genetically defined age-related macular degeneration (AMD). Gemini’s lead candidate, GEM103, is a recombinant form of the human complement factor H protein (CFH), and is designed to address both complement hyperactivity and restore retinal health in patients with AMD. GEM103 is currently in a Phase 2a trial in dry AMD patients with a CFH risk variant. The company has generated a rich pipeline including recombinant proteins, gene therapies, and monoclonal antibodies.

For more information, visit www.geminitherapeutics.com.

Forward-Looking Statements

Certain statements in this press release and the information incorporated herein by reference may constitute “forward-looking statements” for purposes of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, including those relating to the success, cost and timing of our product development activities and clinical trials, including our estimates regarding when data will be reported from ongoing clinical trials and the timing to commence future clinical trials, the potential attributes and benefits of our product candidates, including GEM103, our ability to obtain and maintain regulatory approval for our product candidates and our ability to obtain funding for our operations when needed. Forward-looking statements include statements relating to our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in the final proxy/prospectus for our recently completed business combination, and those that are included in any of our future filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Some of these risks and uncertainties may in the future be amplified by the COVID-19 pandemic and there may be additional risks that we consider immaterial or which are unknown. It is not possible to predict or identify all such risks. Our forward-looking statements only speak as of the date they are made, and we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

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FAQ

Who is the new CFO of Gemini Therapeutics?

Brian Piekos has been appointed as the Chief Financial Officer of Gemini Therapeutics.

What is the background of Brian Piekos?

Brian Piekos has over 20 years of experience in finance and industry, previously serving as CFO at AMAG Pharmaceuticals.

What is GEM103?

GEM103 is Gemini's lead program designed to target genetically-defined patients with age-related macular degeneration.

What percentage of dry AMD patients have CFH gene variants?

Approximately 40% of dry AMD patients have variants in the complement factor H gene.

What are the potential benefits of GEM103?

GEM103 aims to restore regulation of the complement system in genetically-defined patients, addressing unmet medical needs in AMD.