Revelation Biosciences is a clinical-stage biopharmaceutical company with no approved products or revenue, focused on developing treatments for kidney disease. Its entire pipeline centers on a single proprietary drug formulation called Gemini, a synthetic derivative of monophosphoryl lipid A (MPLA) that works by stimulating TLR4, a key receptor in the innate immune system. Rather than broadly suppressing inflammation, Gemini aims to rebalance a dysregulated immune response — increasing anti-inflammatory cytokines while avoiding the pro-inflammatory response that causes tissue damage. Revelation is developing Gemini for two indications: GEM-AKI for acute kidney injury, where no approved therapies currently exist beyond dialysis and supportive care, and GEM-CKD for chronic kidney disease. GEM-AKI is the lead program, with an FDA-agreed Phase 2/3 adaptive study design planned, while GEM-CKD is earlier stage, with preclinical work planned for 2026. Revelation funds itself entirely through equity financing and has just 8 full-time employees, with no commercial infrastructure. If Gemini is approved, Revelation would likely pursue a partnership or licensing deal with a larger pharmaceutical company for commercialization. A key supply chain risk is Revelation's sole-source dependence on Avanti Polar Lipids for PHAD, the active ingredient in Gemini, with no long-term supply agreement in place. Longer term, Revelation sees potential to expand Gemini beyond kidney disease through out-licensing or academic partnerships.