Fulcrum Therapeutics, Inc. and Slate Medicines, Inc. have agreed to merge in an all-stock transaction, creating a new entity focused on developing advanced therapeutics for migraine treatment.
The combined company will prioritize Slate's pipeline, including SLTE-1009, a clinical stage monoclonal antibody aimed at preventing migraines and other headache disorders.
Following the merger, the entity will operate under the name Slate Medicines, Inc. and is expected to trade on Nasdaq with the ticker symbol 'SLTE'.
Pre-merger Fulcrum stockholders will own 5 percent of the new company, with the exact percentage subject to adjustment based on Fulcrum's net cash at closing.
The boards of both companies have unanimously approved the merger, which is anticipated to be finalized in the fourth quarter of 2026.
“Following our evaluation of strategic alternatives, we are pleased to announce this transaction with Slate, which we believe represents the best path forward for our stockholders and a compelling opportunity to participate in the development of a portfolio of next generation migraine therapeutics” said Alex C. Sapir, Fulcrum’s President and Chief Executive Officer.”