Leap Therapeutics raises $58.9M in private placement for digital assets

Leap Therapeutics (NASDAQ: LPTX) announced a $58.9 million private placement led by Winklevoss Capital to launch a digital asset treasury strategy. The biotechnology company entered into a securities purchase agreement for 95.8 million shares of common stock or pre-funded warrants and warrants to purchase an additional 71.9 million shares at $0.5335 per share.

The aggregate exercise price per unit totals $0.61439. Winklevoss Capital will provide capital and strategic support for Leap's digital asset treasury strategy, according to the company's statement.

Under the lead investor agreement, Leap will expand its board of directors to 12 members, with Winklevoss Capital gaining the right to nominate two individuals, including the board chairperson.

A portion of the proceeds will fund continued development of Leap's therapeutic programs, including FL-501 and sirexatamab. The company recently completed a randomized controlled Phase 2 trial for sirexatamab in colorectal cancer patients, with results scheduled for presentation at the European Society for Medical Oncology Congress on October 19 in Berlin.

The private placement closing is expected around October 8, 2025, subject to customary conditions. Parcrest serves as the placement agent, while Morgan, Lewis & Bockius LLP advises Leap and Cooley LLP represents Winklevoss Capital.

The securities are being offered through a private placement exempt from Securities Act registration requirements. The company will file a registration statement with the SEC for resale of the securities by purchasers.

Winklevoss Capital, founded in 2012 by Cameron and Tyler Winklevoss, invests in frontier technologies. Leap Therapeutics focuses on developing targeted and immuno-oncology therapeutics.

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