Mergers & Acquisitions
By The Online Investor Staff, updated Sun., Jan. 29, 4:24 PM
| This Slide: #56 of 100 |
Slide #56. Leap Therapeutics, Inc. — Flame Biosciences, Inc.
Acquirer:
Leap Therapeutics, Inc. (NASDAQ:LPTX)
Acquiree:
Flame Biosciences, Inc.
Details:
Leap Therapeutics, Inc. (Nasdaq:LPTX), a biotechnology company focused on developing targeted and immuno-oncology therapeutics, and Flame Biosciences, Inc., a privately-held biotechnology company, today announced that the companies have entered into a definitive merger agreement pursuant to which Leap has acquired Flame and its assets, including FL-301, its clinical stage anti-Claudin18.2 monoclonal antibody, FL-302, its preclinical anti-Claudin18.2/CD137 bispecific monoclonal antibody, FL-501, its preclinical anti-GDF15 monoclonal antibody, and net cash of approximately $50 million as of December 31, 2022.
Leap Therapeutics is a biopharmaceutical company developing therapies designed to treat patients with cancer by inhibiting fundamental tumor-promoting pathways and by harnessing the immune system to attack cancer cells. Co.'s primary clinical stage program is DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1 (DKK1). DKK1 is a protein that regulates the Wnt signaling pathways and enables tumor cells to proliferate and spread, as well as suppresses the immune system from attacking the tumor. Co. is studying DKN-01 in multiple ongoing clinical trials in patients with esophagogastric cancer, gynecologic cancers, or prostate cancer.
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