Shares of LEAP Therapeutics (LPTX) rose 25%after Microcap Cancer Drug Developer announced a $ 58.9 million -dollars led by Winklevoss Capital to kickstart a crypto -state -box strategy.
The investment, structured as a private location, includes common shares and warrants price at $ 0.61439 per year. Unit. Winklevoss Capital, founded by Cameron and Tyler Winklevoss, also gets two board seats at LEAP.
Exactly which cryptos would be purchased was not revealed.
LEAP, known for its immuno-oncology therapies, said it will use part of the capital to buy cryptocurrency as part of a prolonged plan to keep crypto on its balance. The rest will support clinical development of its drug candidates.
The deal is among a growing list of public companies using crypto as a treasury reserve. Leap said that more details about its digital asset strategy will be announced in the near future and detail not detail which assets it is planning to acquire.
Shares were higher with 25% in trading on Monday morning.
