Leap Therapeutics Raises $58.88 Million in PIPE Financing
Leap Therapeutics, Inc. (Nasdaq: LPTX), a biotech company focused on targeted and immuno-oncology therapies, announced a $58.88 million cash raise. The funds come from a private investment in public equity (PIPE) transaction. The capital will support the launch of a digital asset treasury strategy.
The announcement was made on October 6, 2025, through a press release. Winklevoss Capital, the family office of Gemini crypto exchange founders Tyler and Cameron Winklevoss, led the financing. The firm will provide funding and strategic advice as Leap develops its treasury plan.
Details of the PIPE Transaction and Governance Changes
The private placement includes issuing common stock or pre-funded warrants, plus warrants to buy more shares. The total exercise price per unit is $0.61439. The deal is expected to close around October 8, 2025.
The agreement also changes Leap’s governance. The Board of Directors will expand to 12 members. Winklevoss Capital will nominate two directors, including one who will serve as Board chairperson.
Use of Funds and Upcoming Clinical Data
Most of the capital will build the digital asset treasury. Part of the funds will advance Leap’s clinical programs. These include sirexatamab (DKN-01) and FL-501.
Leap plans to present Phase 2 trial data for sirexatamab in colorectal cancer at the European Society for Medical Oncology (ESMO) Congress later in October 2025.
The company expects to share more details soon about its digital asset treasury’s implementation and operations.
