LPTX Secures $58.88 Million Private Placement to Launch Digital Asset Treasury Strategy—Winklevoss Capital Takes the Lead

Strategic Cash Infusion Aims to Fuel Both Biotech R&D and Digital Assets

Leap Therapeutics (NASDAQ:LPTX) announced a $58.88 million private placement, attracting the attention of market participants and investors for two reasons: the significant capital raise and the decision to initiate a digital asset treasury strategy. The round is spearheaded by Winklevoss Capital, a name closely associated with digital innovation and cryptocurrency investment.

The fresh funding provides Leap not just with the financial runway for its clinical programs—like its monoclonal antibody projects FL-501 and sirexatamab—but also supports an unusual pivot in biotech capital allocation: active management of a portion of treasury in digital assets.

Key Details: Private Placement Structure and Board Evolution

Under the new securities purchase agreement, Leap will issue 95,849,353 shares of common stock (or pre-funded warrants) and warrants for another 71,887,008 shares. The warrant exercise price is set at $0.53, while the aggregate unit price comes in at $0.61, pricing the deal to comply with Nasdaq’s “Minimum Price” requirements.

The transaction isn’t just financial. Winklevoss Capital gains strategic board representation—two seats on Leap’s Board of Directors, with one serving as chairperson. This brings the board size to 12 members and positions the investor to play an influential role in Leap’s digital asset plans and biotech trajectory.

Digital Asset Strategy Marks a New Direction in Biotech Treasury Management

The most striking feature of the deal is Leap’s intention to allocate capital to a digital asset treasury strategy. With guidance from Winklevoss Capital—well-known for its roots in cryptocurrency—the company plans to participate directly in digital assets as a means of building long-term shareholder value. Few biotech companies have taken this route, raising both intrigue and questions about risk management and future performance correlation with volatile digital markets.

The announcement comes just weeks ahead of the European Society for Medical Oncology (ESMO) Congress, where Leap will present updated clinical data, suggesting a coordinated strategy to showcase both scientific and financial innovation.

What Should Investors Watch Next?

With the closing expected on or about October 8, Leap anticipates providing further updates regarding treasury activities. The deal also ensures legal and regulatory compliance—especially with the offer relying on exemptions from SEC registration and a parallel agreement for future registration rights.

For current and prospective shareholders, Leap Therapeutics now stands at the intersection of biotech development and digital finance. While this dual approach opens doors to potential new sources of value creation, it also brings new layers of volatility and regulatory attention.

Bottom Line: LPTX Leans Into Digital Innovation Amid Biotech Advancements

By leveraging capital from forward-thinking partners like Winklevoss Capital, Leap is betting on a differentiated treasury model—hoping to balance biotech milestones with strategic forays into digital assets. The next quarter will likely be telling as the company implements these strategies and reveals further plans for its pipeline and treasury activities. Investors intrigued by either biotech innovation or digital finance may want to keep LPTX on their radar for what comes next.

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