Foresite pulls Gemini Therapeutics to Nasdaq in a quick $216M SPAC flip
Jim Tananbaum was looking for a specific type of company, one with a genetics-driven platform, when he launched Foresite Capital’s first blank check company. And he’s found it in Gemini Therapeutics.
Just two months after FS Development Corp landed on Nasdaq with $121 million in the bank, it will give way to Gemini following a merger and concurrent private placement totaling $95 million.
Atlas Venture, Lightstone Ventures and OrbiMed — the original investors leading Gemini’s $42.5 million launch round three years ago — are on the roster Foresite has corralled, alongside existing investor Wu Capital. Fidelity, Wellington Management, Boxer Capital of Tavistock Group, Alyeska Investment Group, Suvretta Capital Management, CVF, DAFNA Capital and Acorn Bioventures tagged along.
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