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Leap Therapeutics Secures $58.88 Million for New Strategy

Leap Therapeutics, a biotechnology firm based in Cambridge, Massachusetts, has successfully closed a private placement raising a total of $58.88 million in cash, spearheaded by Winklevoss Capital. This financial boost is aimed at implementing a digital asset treasury strategy designed to increase shareholder value while supporting ongoing therapeutic development.

Details of the Private Placement

On October 9, 2025, Leap Therapeutics announced the completion of this financing round. A total of 15,212,311 shares of common stock were issued, alongside pre-funded warrants that allow for the purchase of up to 80,768,504 shares. Additionally, warrants were included for the purchase of 71,985,605 shares at a specified exercise price of $0.5335 per share. This diversified offering is collectively referred to as the “Units.”

Winklevoss Capital, renowned for its investments in cutting-edge technologies, will not only provide financial backing but also strategic insights to help Leap navigate this new digital frontier. The partnership is expected to facilitate a more robust participation in digital assets, with a part of the newly acquired capital earmarked for the advancement of Leap’s therapeutic initiatives, including FL-501 and sirexatamab.

Enhancing Board Composition

In connection with this investment strategy, Leap Therapeutics is also modifying its governance structure. The company's Board of Directors will expand to 12 members, with Winklevoss Capital entitled to nominate two individuals, which includes a chairperson role. This strategic move highlights Winklevoss Capital's commitment not just as a financial investor but as a pivotal partner in Leap’s future growth and strategy development.

Continued Development of Therapeutic Programs

Alongside the digital asset initiative, Leap Therapeutics is committed to progressing its therapeutic pipeline. The firm has recently concluded a randomized controlled Phase 2 trial for its drug sirexatamab, targeted at colorectal cancer. The results from this trial will be discussed in a Mini Oral Session at the European Society for Medical Oncology (ESMO) Congress 2025 scheduled for October 19 in Berlin, Germany. This event will provide a platform for Leap to share insights and engage with the global oncology community regarding their innovative therapeutic solutions.

Looking Ahead

As Leap Therapeutics steps into this new era of digital asset treasury strategy, it anticipates releasing updates related to its treasury activities shortly. The investment firm Parcrest played a vital role as placement agent for this fundraising effort, while Morgan, Lewis & Bockius LLP and Cooley LLP provided legal counsel for Leap and Winklevoss Capital, respectively.

The private placement aligns with compliance measures outlined by Nasdaq rules and adheres to regulations under the Securities Act of 1933, ensuring proper execution of this financial strategy within the boundaries of federal regulations.

About Leap Therapeutics

Leap Therapeutics (Nasdaq: LPTX) is focused on pioneering new therapeutics in immuno-oncology. Their pipeline includes sirexatamab, a humanized monoclonal antibody that targets the Dickkopf-1 (DKK1) protein, and FL-501, which aims at the growth differentiation factor 15 (GDF-15) protein. Expanding their approach through a digital asset strategy marks a significant evolution for the company.

About Winklevoss Capital

Founded by Cameron and Tyler Winklevoss in 2012, Winklevoss Capital specializes in investing in frontier technologies, making the partnership with Leap Therapeutics a strategic alignment of shared vision for innovation.

As Leap Therapeutics forges ahead with this exciting strategy, stakeholders can look forward to the potential value creation stemming from both its therapeutic advancements and dynamic digital asset initiatives. Stay tuned for future announcements and developments from this innovative biotech leader.