Company: MDCXW
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001062993-25-008292
Chunk: 12

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-01
Form: DRS
Chunk 12
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 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.

Antev Acquisition

On April 26, 2025, the Company entered into a binding letter of intent (the "Letter Agreement") pursuant to which the Company agreed to acquire all of the issued and outstanding shares of Antev Ltd. ("Antev") on a share exchange basis (the "Antev 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.

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 FDA Phase 2 and New Drug Administration approvals, Antev shareholders will be entitled to receive up to approximately $65 million in additional contingent consideration.

The Antev 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 Antev Transaction will be consummated on the terms or timeframe currently contemplated, or at all.

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| CONFIDENTIAL TREATMENT REQUESTED BY MEDICUS PHARMA LTD. 
 PURSUANT TO 17 C.F.R. SECTION 200.83                    |

Implications of Being an Emerging Growth Company

As a company with less than $1.235 billion in revenues during our last fiscal