Fulcrum Therapeutics to merge with Slate Medicines in all-stock deal

Fulcrum Therapeutics and Slate Medicines entered into a definitive agreement to combine in an all-stock transaction, with the resulting entity operating as Slate Medicines and trading on Nasdaq under ticker SLTE. Slate is a clinical-stage biopharmaceutical company developing monoclonal antibodies and bispecific antibodies targeting PACAP/VIP and CGRP pathways for migraine and other headache disorders, with lead asset SLTE-1009 in Phase 1 trials. Slate has secured $245 million in concurrent private placement funding from investors including Frazier Life Sciences, Forbion, and RA Capital Management, with expected cash runway into 2029. Pre-merger Fulcrum stockholders are expected to own 5 percent of the combined company and pre-merger Slate stockholders 95 percent, with closing anticipated in the fourth quarter of 2026.