Shares of Leap Therapeutics (LPTX) surged 25% after the microcap cancer drug developer announced a $58.9 million private investment led by Winklevoss Capital to launch a crypto treasury strategy.

The private placement includes common shares and warrants priced at $0.61439 per unit. As part of the deal, Winklevoss Capital, founded by Cameron and Tyler Winklevoss, will secure two seats on Leap’s board.

Leap, known for its immuno-oncology therapies, said a portion of the proceeds will be used to purchase cryptocurrency to hold on its balance sheet, while the remainder will support ongoing clinical development of its drug candidates. Specific cryptocurrencies to be acquired were not disclosed.

This move positions Leap among a growing cohort of public companies using crypto as a treasury reserve. The company stated that additional details on its digital asset strategy will be shared in the near future.

Shares were up 25% in Monday morning trading.