CAMBRIDGE, Mass.--(BUSINESS WIRE)--Gemini Therapeutics, Inc. (Nasdaq: GMTX), a clinical stage precision medicine company developing innovative treatments for genetically-defined age-related macular degeneration (AMD), today announced the grant of inducement awards under Gemini’s 2021 Inducement Plan to two new employees of options to purchase an aggregate of 217,000 shares of Gemini’s common stock. In accordance with NASDAQ Listing Rule 5635(c)(4), the awards were approved by Gemini’s Compensation Committee and made as a material inducement to each employee’s entry into employment with Gemini.
The agreements covering these option awards are consistent with Gemini’s standard stock option inducement award agreement. Each option has a ten-year term and a four-year vesting schedule, with 25% of the shares subject to the option vesting on the first anniversary of the grant date and the remainder in equal monthly installments over the following three years, subject to each employee’s continued service with Gemini through the applicable vesting date.
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 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 and a Phase 1/2a study in patients with neovascular age-related macular degeneration with or at risk for macular atrophy. Gemini is also working to advance a potentiating antibody for CFH, GEM307, towards clinical development for treatment of systemic diseases. For more information, visit www.geminitherapeutics.com.