PETACH TIKVA, Israel,
January 23, 2017 /PRNewswire/ --
Macrocure Ltd. (NASDAQ: MCUR), a clinical-stage biotechnology
company, announced today that the previously reported merger
transaction with a wholly-owned subsidiary of Leap Therapeutics,
Inc. has been completed. Pursuant to the transaction, shareholders
of Macrocure will receive the merger consideration of 0.1815 shares
of common stock of Leap per ordinary share of Macrocure cancelled,
plus cash in lieu of a fractional share of Leap common stock (based
on a value of $9.90 per share of Leap
common stock). The trading of Macrocure's ordinary shares on the
NASDAQ Global Market has ceased, and the trading of Leap common
stock on NASDAQ (under the trading symbol "LPTX") is expected to
begin tomorrow (January 24,
2017).
About Leap Therapeutics, Inc.
Leap Therapeutics is an immuno-oncology company with two
clinical stage programs. Leap's most advanced clinical candidate,
DKN-01, is a humanized monoclonal antibody targeting the Dickkopf-1
(DKK1) protein. DKN-01 is in clinical
trials in esophageal cancer and cholangiocarcinoma. Leap's second
clinical candidate, TRX518, is a novel, humanized GITR agonist
monoclonal antibody designed to enhance the immune system's
anti-tumor response. TRX518 is in clinical trials in patients with
advanced solid tumors. For more information about Leap
Therapeutics, please visit http://www.leaptx.com .
About Macrocure Ltd.
Macrocure Ltd. is a clinical-stage biotechnology company that
was focused on developing a novel therapeutic platform to address
chronic and hard-to-heal wounds. For more information, please visit
http://www.macrocure.com or please review the documents filed or
furnished by Macrocure with or to the SEC.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements that are
not historical facts, such as statements regarding Leap's future
operations. Words such as "will," "expect," "anticipate,"
"plan," "believe," "design," "may," "future," "estimate,"
"predict," "objective," "goal," or variations thereof and
variations of such words and similar expressions are intended to
identify such forward-looking statements. Forward-looking
statements are based on Macrocure's current knowledge and its
present beliefs and expectations regarding possible future events
and are subject to risks, uncertainties, and assumptions. Actual
results and the timing of events could differ materially from those
anticipated in these forward-looking statements as a result of
several factors including, but not limited to, the anticipated
amount needed to finance the combined company's future operations,
unexpected results of clinical trials, delays or denial in
regulatory approval process, or additional competition in the
market. The forward-looking statements made herein speak only as of
the date of this release and Macrocure undertakes no obligation to
update publicly such forward-looking statements to reflect
subsequent events or circumstances, except as otherwise required by
law.
Macrocure Ltd. Contact
Shai Lankry, Chief Financial
Officer
Shai@macrocure.com
+972-54-565-6011
Leap Therapeutics, Inc. Contact
Douglas E. Onsi, Chief Financial
Officer
donsi@leaptx.com
+1-617-714-0360
SOURCE Macrocure Ltd.
