Latham Advises Frazier Life Sciences on Private Placement Financing in Connection With Fulcrum Therapeutics and Slate Medicines Merger

Fulcrum Therapeutics, Inc. (Fulcrum) (Nasdaq: FULC) and Slate Medicines, Inc. (Slate), a biotechnology company developing next-generation therapeutics for the treatment of migraine, have announced that they have entered into a definitive agreement to combine the companies in an all-stock transaction. The resulting entity will focus on advancing Slate’s pipeline of potentially best-in-class therapeutics, including SLTE-1009, a clinical-stage subcutaneous anti-PACAP/VIP monoclonal antibody for the prevention of migraine and other headache disorders. Upon completion of the merger, the combined company plans to operate under the name Slate Medicines, Inc. and is expected to trade on Nasdaq under the ticker symbol SLTE.

In support of the merger, Slate has secured commitments for an oversubscribed concurrent private placement of US$245 million from a syndicate of leading healthcare investors led by Frazier Life Sciences and including participation from Forbion, RA Capital Management, Deep Track Capital, Foresite Capital, OrbiMed, RTW Investments, and Mingxin Capital.

Latham & Watkins LLP represents Frazier Life Sciences in the transaction with a corporate team led by San Diego partner Matt Bush and counsel Anthony Gostanian.