Leap Therapeutics, Inc. (Nasdaq: LPTX), a biotechnology firm focused on targeted and immuno-oncology therapeutics, today announced the securing of $58.88 million in cash commitments through a private investment in public equity (PIPE) transaction. This capital raise is designed to facilitate the establishment of a digital asset treasury strategy.
The news was announced on October 6, 2025 with a press release which revealed that the financing was led by Winklevoss Capital, a family office of crypto exchange Gemini’s Tyler Winklevoss and Cameron Winklevoss. The firm committed to providing both funding and strategic counsel to Leap as it structures and implements its novel treasury approach.
Features of the project
The private placement involved the issuance of common stock (or pre-funded warrants) alongside warrants to acquire additional shares, with an aggregate exercise price per unit set at $0.61439. The transaction’s closing is pending and scheduled for approximately October 8, 2025.
Additionally, the agreement shows modifications to the company’s governance structure. The Board of Directors will be expanded to 12 members, with Winklevoss Capital gaining the right to nominate two individuals, one of whom will be the role of Board chairperson.
While the majority of the capital is the formation of the digital asset treasury, a portion will be allocated to advancing Leap’s clinical pipeline. This includes the development of its therapeutic programs, such as sirexatamab (DKN-01) and FL-501. The company is scheduled to present data from a randomized controlled Phase 2 trial of sirexatamab in colorectal cancer at the European Society for Medical Oncology (ESMO) Congress later this month.
Leap Therapeutics has indicated that any disclosures regarding the implementation and operational specifics of its digital asset treasury are anticipated in the near future.
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