Leap Therapeutics Secures $59M Crypto-Led Investment Boosting Shares

Leap Therapeutics, a clinical-stage biotechnology company focused on cancer therapies, announced a $58.9 million private investment led by Winklevoss Capital to initiate a crypto treasury strategy and support its clinical development programs. As part of the deal, Winklevoss Capital will gain two board seats, including the ability to nominate one chair, signaling a significant influence on Leap's strategic direction. The company plans to allocate a portion of the funds to purchase cryptocurrency for long-term holding on its balance sheet, although specific digital assets were not disclosed. This move places Leap among a growing number of public companies adopting cryptocurrencies as treasury reserves, marking a notable shift in corporate finance within the biotech sector. The announcement triggered a strong market reaction, with Leap's shares surging over 25% in early trading and closing up 29% following a pre-market spike exceeding 76%. Leap Therapeutics aims to leverage this dual strategy to enhance shareholder value through both its innovative cancer therapies and its digital asset holdings.