Fulcrum Therapeutics Inc. shares rose 13% in premarket trading after the company agreed to merge with Slate Medicines in a deal valuing Fulcrum at approximately $475 million.
Under the terms of the agreement, Fulcrum shareholders will receive $14.50 per share in cash and stock, representing a 35% premium to Fulcrum’s closing price on April 12, the day before the deal was announced. The combined entity will operate under the Fulcrum Therapeutics name, with Slate Medicines’ gene regulation platform integrated into Fulcrum’s existing pipeline focused on genetic diseases.
The merger is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions. Fulcrum’s board of directors has unanimously approved the deal, which has been unanimously recommended by an independent committee of Fulcrum’s board.
Slate Medicines will contribute its proprietary gene regulation technology, designed to modulate gene expression without altering DNA sequences. Fulcrum’s existing portfolio includes programs targeting rare genetic disorders, including facioscapulohumeral muscular dystrophy (FSHD). The combined company aims to accelerate development timelines and expand its therapeutic reach.
Financial terms include a $200 million upfront cash payment and the issuance of Fulcrum shares valued at $275 million, based on Fulcrum’s closing price on April 12. The deal is expected to be accretive to Fulcrum’s earnings within 12 months of closing, according to management estimates.
Fulcrum Therapeutics is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts. Slate Medicines, based in San Francisco, focuses on next-generation gene regulation therapies.
