Company: MDCXW
Filing Date: 2025-05-27
Form Type: S-1
Source: 0001062993-25-010333
Chunk: 12

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-27
Form: S-1
Chunk 12
---
 SEPA. The issuance of common shares under the SEPA is subject to further limitations, including that the common shares beneficially owned by Selling Shareholder and its affiliates at any one time will not exceed 4.99% of the then-outstanding common shares. As consideration for the Selling Shareholder's commitment to purchase common shares pursuant the SEPA, we paid the Selling Shareholder a structuring fee in the amount of $25,000 and issued to Selling Shareholder the Commitment Shares. See "Standby Equity Purchase Agreement".

Recent Developments

Update on Phase 2 Clinical Study

On April 21, 2025, the Company announced that the Institutional Review Board approved the increase in the number of patients in its SKNJCT-003 Phase 2 clinical study from 60 to 90. The clinical study will expand from the nine clinical sites in the United States to include an additional site in the United States and two clinical trial sites in Europe. The Company also announced that it has randomized more than 45 participants in the study and is on track to submit the package seeking a Type C meeting with the FDA before the end of the second quarter of 2025.

On May 22, 2025, the Company announced that it has received study may proceed approval from the United Arab Emirates Department of Health to commence Phase 2 clinical study (SKNJCT-004) to non-invasively treat BCC of the skin.

Antev Acquisition

On April 26, 2025, the Company signed a binding letter of intent to acquire Antev Ltd. (“Antev”), a UK-based late clinical-stage drug development company. The Company is negotiating a definitive agreement with Antev pursuant to which, the Company will acquire all issued and outstanding shares of Antev on a fully diluted basis, in exchange for 2,666,600 (or approximately 19% in aggregate as of the date of the letter of intent) of the Company’s issued and outstanding common shares (the “Antev Transaction”). In addition to resale restrictions prescribed under applicable securities law, any shares issued to Antev shareholders will be subject to a 9-month staggered lock-up and an agreement granting certain voting rights in favor of management of the Company for 36 months. Antev shareholders will be entitled to receive up to $65 million in additional contingent consideration. The Antev Transaction is expected to close by the end of June 2025, subject to the completion of satisfactory due diligence by Medicus, negotiation of definitive agreements, obtaining applicable