Leap merging with Macrocure
Leap Therapeutics Inc. (Cambridge, Mass.) is merging with Macrocure Ltd. (NASDAQ:MCUR) in a deal that will create a publicly listed company with two clinical-stage immuno-oncology candidates. Leap's DKN-01, a mAb against dickkopf homolog 1 (DKK1), is in Phase I/II testing for esophageal cancer and cholangiocarcinoma. Leap's TRX518, a mAb against glucocorticoid-induced tumor necrosis factor receptor (TNFR)-related protein (GITR; TNFRSF18), is in Phase I development for solid tumors.
Leap shareholders will own about 68% of the combined company and Macrocure shareholders will own about 32%. The merged entity will be based out of Leap's office and will be run by Leap's team. Leap was formed in January when HealthCare Ventures combined its portfolio companies HealthCare Pharmaceuticals Inc. and GITR Inc. (see BioCentury Extra, Jan. 21). ...