Fulcrum Therapeutics Sells Early-Stage HbF Assets for $7M

Fulcrum Therapeutics, Inc. has entered into an asset purchase agreement to sell its early-stage fetal hemoglobin (HbF) assets to an unaffiliated third-party pharmaceutical company for approximately $7.0 million in cash. The closing of this asset sale is contingent upon the consummation of the proposed merger between Fulcrum and Slate Medicines, Inc. The proceeds are expected to be placed in escrow and will be credited towards Fulcrum's net cash for the merger, thereby increasing the anticipated cash dividend to be declared in connection with the merger.