GlobeNewswire·Aug 17, 2026, 7:00 AM ET

Fulcrum Therapeutics and Slate Medicines Announce Merger Agreement to Advance Next-Generation Migraine Therapies

FULC

Fulcrum Therapeutics and Slate Medicines have entered into a definitive all-stock merger agreement to form a combined entity operating as Slate Medicines, Inc.
The new company will focus on advancing Slate's pipeline of next-generation migraine therapeutics, including lead candidate SLTE-1009.
Slate secured an oversubscribed concurrent private placement financing of $245 million from a syndicate led by Frazier Life Sciences.
Combined cash resources are expected to fund operations into 2029 and support the advancement of SLTE-1009 through Phase 1 and Phase 2 studies.
Fulcrum pre-merger stockholders are expected to own 5.0% of the combined company, while Slate pre-merger stockholders will own 95.0%.
Fulcrum plans to contribute approximately $20.3 million in net cash to the combined entity prior to closing.
Fulcrum expects to declare a cash dividend to its pre-merger stockholders equal to the amount by which its net cash exceeds $20.3 million.
The combined company is expected to trade on Nasdaq under the ticker symbol "SLTE" upon completion of the transaction.
The transaction is expected to close in the fourth quarter of 2026, subject to stockholder approval and regulatory clearances.
SLTE-1009 is a subcutaneous anti-PACAP/VIP monoclonal antibody currently cleared for Phase 1 clinical trials in Australia with data anticipated mid-2027.
Slate is also developing SLTE-2100, a bispecific antibody targeting PACAP/VIP and CGRP, expected to enter clinical trials in the second half of 2027.
Gregory Oakes will serve as Chief Executive Officer of the combined company, with Slate's Board of Directors serving as the new board.
A conference call to discuss the merger will be held on August 17, 2026, at 8:00 a.m. ET.