Biotech firm Leap Therapeutics, Inc., secured a major cash boost, announcing a $58.88 million private placement.
According to the press release, this money will start a new digital asset treasury strategy for the company. The deal was announced on October 6, 2025, led by Winklevoss Capital.
The capital comes from a private investment in public equity, often called a PIPE offering. The closing is expected very soon, around October 8, 2025.
Meanwhile, Winklevoss Capital will provide money and important strategic support. This support will help Leap manage its digital assets. The goal is to build long-term value for shareholders.
They aim to achieve this through active participation in digital assets. Leap plans to release more details about these treasury activities soon.
The investment involves selling 95,849,353 shares of common stock. It also includes warrants to buy 71,887,008 more shares later. The total price for one unit of shares and warrants is set at $0.61439.
Importantly, some of the new funds will continue to advance Leap’s drug development programs. This includes their therapeutics FL-501 and sirexatamab. Sirexatamab recently finished a Phase 2 trial for treating colorectal cancer.
Data from this trial will be presented in Germany at the European Society for Medical Oncology (ESMO) Congress 2025 on October 19.
The agreement also changes the company’s leadership structure. The Board of Directors will grow to 12 members in size. As the lead investor, Winklevoss Capital gets the right to nominate two people to the Board.
One of those nominees will become the chairperson of the Board, showing their commitment to the company’s future direction.
This strategic move places a biotechnology company into the digital asset space. This is a big shift from the usual focus on drug development alone.
Notably, Parcrest served as the placement agent for this offering while Morgan, Lewis & Bockius LLP acted as legal advisor to Leap. Cooley LLP acted as legal advisor to Winklevoss Capital. The securities sale follows specific rules for private placements.
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