Disc Medicine Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update Top-line results from AURORA, the placebo-controlled phase 2 study of bitopertin in erythropoietic porphyrias (EPP),

Disc Medicine Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update

WATERTOWN, Mass. (March 21, 2024) Disc Medicine, Inc. (NASDAQ:IRON), a clinical-stage biopharmaceutical

company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today reported financial results for the fourth quarter and full year ended December 31, 2023,

and provided an update on recent program and corporate developments.

The past year has been truly remarkable for Disc and marks another important

chapter in our company s story. During 2023, we provided the first evidence of the therapeutic potential of our programs, with positive read-outs in patients for both bitopertin and DISC-0974. In addition, we advanced a third program,

DISC-3405, into the clinic and fortified our balance sheet, so we can execute our strategy with confidence, said John Quisel, J.D., Ph.D., President and Chief Executive Officer of Disc. These achievements have positioned us well for

2024, which promises to be another transformational year, and I want to express my deep gratitude to our team for their determination and hard work. We re looking forward to sharing AURORA data in the coming weeks, as well as updated data for

DISC-0974 in MF and initial data for DISC-3405 in healthy volunteers in the first half of this year.

Recent Business Highlights and Upcoming

Bitopertin: GlyT1 Inhibitor (Heme Synthesis Modulator)

DISC-0974: Anti-Hemojuvelin Antibody (Hepcidin Suppression)

DISC-3405: Anti-TMPRSS6 Antibody (Hepcidin Induction)

Full Year 2023 Financial Results:

Disc Medicine (NASDAQ:IRON) is a

clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, potentially first-in-class therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology,

specifically heme biosynthesis and iron homeostasis. For more information, please visit www.discmedicine.com.

Available Information

Disc announces material information to the public about the Company, its products and services, and other matters through a variety of means, including filings

with the U.S. Securities and Exchange Commission (SEC), press releases, public conference calls, webcasts and the investor relations section of the Company website at ir.discmedicine.com in order to achieve broad,

non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.

Disc Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but

not limited to, express or implied statements regarding Disc s expectations with respect to its AURORA phase 2 and BEACON phase 2 clinical studies of bitopertin and the results thereof, and its phase 1b/2 study of bitopertin in Diamond-Blackfan

Anemia, its phase 1b/2 clinical studies of DISC-0974 in patients with MF and NDD-CKD patients with anemia, its phase 1 clinical study of DISC-3405 in healthy volunteers; projected timelines for the initiation

and completion of its clinical trials, anticipated timing of release of data, and other clinical activities; Disc s business plans, objectives and expected contributions of management; and Disc s beliefs about operating expenses and that

it will have capital to fund Disc well into 2026. The use of words such as, but not limited to, believe, expect, estimate, project, intend, future, potential,

continue, may, might, plan, will, should, seek, anticipate, or could or the negative of these terms and other similar words or expressions

that are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on Disc s current beliefs, expectations and assumptions regarding

the future of Disc s business, future plans and strategies, clinical results and other future conditions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No

representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Disc may not actually achieve

the plans, intentions or expectations disclosed in these forward-looking statements, and investors should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and

expectations disclosed in the forward-looking statements as a result of a number of material risks and uncertainties including but not limited to: the adequacy of Disc s capital to support its future operations and its ability to successfully

initiate and complete clinical trials; the nature, strategy and focus of Disc; the difficulty in predicting the time and cost of development of Disc s product candidates; Disc s plans to research, develop and commercialize its current and

future product candidates; that enrollment timelines of both the BEACON

and AURORA studies may not necessarily be predictive of future enrollment timelines; the timing of initiation of Disc s planned clinical trials; Disc s ability to retain and recognize

the intended incentives conferred by Fast Track Designation for its product candidates including DISC-3405 and DISC-0974; Disc s ability to retain and recognize the intended incentives conferred by Orphan Drug Designation for DISC-3405 and

bitopertin; the timing of the availability of data from Disc s clinical trials; Disc s ability to identify additional product candidates with significant commercial potential and to expand its pipeline in hematological diseases; the timing

and anticipated results of Disc s preclinical studies and clinical trials and the risk that the results of Disc s clinical trials may not be predictive of future results in connection with future studies or clinical trials and may not

support further development and marketing approval; the other risks and uncertainties described in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31,

2023, and other documents filed by Disc from time to time with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Disc s subsequent filings with the SEC. Any forward-looking statement speaks only

as of the date on which it was made. None of Disc, nor its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as result of new information, future events or

otherwise, except as required by law.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share amounts)

CONDENSED CONSOLIDATED BALANCE SHEETS

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