Baker Bros. Advisors’ Investment in Leap Therapeutics


Akin Gump Strauss Hauer & Feld LLP advised Baker Bros. Advisors LP in the purchase by its affiliates of Series A mandatorily convertible preferred stock of Leap Therapeutics, Inc.

Baker Bros. acted as the lead investor in the transaction.

Upon approval by the Leap stockholders, the Series A mandatorily convertible preferred stock will automatically convert into pre-funded warrants to purchase 14,218,010 shares of Leap common stock. Upon stockholder approval and conversion of the preferred stock, Baker Bros. will also receive warrants to purchase up to an equal number of shares of common stock. The aggregate gross proceeds to Leap from this offering are approximately $27 million, before deducting placement agent fees and estimated offering expenses payable by Leap, and excluding proceeds from the exercise of any warrants.

Raymond James & Associates, Inc. was the placement agent for the equity financing.

The Akin Gump team was led by corporate practice head Jeffrey Kochian (PIcture). He was joined by counsel Alyssa Dossick, Anthony Ameduri and Yehuda Raskin as well as investment management partner Jason Daniel and tax partner Olivier De Moor.

Involved fees earner: Anthony Ameduri – Akin Gump; Jason Daniel – Akin Gump; Alyssa Dossick – Akin Gump; Jeffrey Kochian – Akin Gump; Olivier De Moor – Akin Gump; Yehuda Raskin – Akin Gump;

Law Firms: Akin Gump;

Clients: Baker Bros. Advisors, LLC;