Company: MDCXW
Filing Date: 2025-04-28
Form Type: 8-K
Source: 0001062993-25-008086
Chunk: 0

Company: Medicus Pharma Ltd.
Filing Date: 2025-04-28
Form: 8-K
Item: Item 8.01
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Item 8.01 Other Events.

On April 28, 2025, Medicus Pharma Ltd. (the "Company") issued a press release announcing that the Company entered into a binding letter of intent, dated April 26, 2025 (the "Letter Agreement"), pursuant to which the Company has agreed to acquire all of the issued and outstanding shares of Antev Ltd. ("Antev") on a share exchange basis (the "Transaction"). Antev is a clinical stage biotech company, developing Teverelix, a next generation GnRH antagonist, as first in market product for cardiovascular high-risk prostate cancer patients and patients with first acute urinary retention (AURr) episodes due to enlarged prostate. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

Subject to certain assumptions, qualifications and conditions, the Company will negotiate and enter into a definitive agreement with Antev to acquire all issued and outstanding Antev shares, on a fully-diluted basis, in exchange for 2,666,600 common shares of the Company ("Consideration Shares"), representing approximately 19% of the issued and outstanding common shares of the Company as of the date of the Letter Agreement. In addition to resale restrictions prescribed under applicable securities laws, the Consideration Shares will be subject to a 9-month staggered lock-up release and an agreement granting certain voting rights in favor of Company management for a period of 36 months.

Upon the achievement of certain milestones related to potential future U. S. Food and Drug Administration ("FDA") Phase 2 and New Drug Administration approvals, Antev shareholders will be entitled to receive up to approximately US$65 million in additional contingent consideration.

The Transaction is expected to close before the end of June 2025, subject to the completion of satisfactory due diligence by the Company, negotiation of definitive agreements, obtaining applicable corporate, regulatory and other third-party approvals and the fulfillment of customary closing conditions. No assurances can be made that the parties will successfully negotiate and enter into a definitive agreement, or that the Transaction will be consummated on the terms or timeframe currently contemplated, or at all.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

  Exhibit No.      Description                                                                   
         99.1      Press Release, dated April 28, 2025                                           
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        104.1      Cover Page Interactive Data File (embedded within the inline XB