Company: MDCXW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001062993-25-016838
Chunk: 10

Company: Medicus Pharma Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 10
---
 to the terms of the Antev Acquisition, the Company acquired 98.60% of ownership in Antev including all the assets and its In-Process Research and Development (IPR&D) - Teverelix by issuing 1,603,164 common shares, payment of $2,970,166 and payment for transaction costs of $1,992,798 and provided advance of $1,353,600 to Antev limited vide a promissory note. Out of the 1,603,164, 205,980 shares issued will be delivered after 210 days. There was additional contingent consideration based on the following development milestones of the IPR&D:

              Phases
              Contingent Consideration agreed for Antev shares acquired through issue of shares
              Contingent Consideration agreed for Antev shares acquired by cash payment

              (i) Advanced Prostate Cancer - Phase 2 success or registration
              $2.00 per common share issued
              $1.47 per Antev share (pro rata interest in $5,333,200)

              (ii) Acute Urinary Retention (AUR) Prevention - Phase 2 success or registration
              $7.50 per common share issued
              $5.52 per Antev share (pro rata interest in $19,999,500)

              (iii) FDA NDA approval - Hormone therapy for prostate cancer
              Up to $20,000,000 (subject to pro rata reduction)
              $5.52 per Antev share (pro rata interest in $20,000,000)

              (iv) FDA NDA approval - AUR prevention
              Up to $20,000,000 (subject to pro rata reduction)
              $5.52 per Antev share (pro rata interest in $20,000,000)

      Per the terms of the acquisition, the common shares issued by the Company at Closing are subject to a staggered lock-up schedule. Specifically, 15% of the shares will be released at 30, 60, 90, 120, 150, and 180 days following the effectiveness of the Initial Registration Statement by the SEC, with the remaining 10% released on day 210. Additionally, these shares are subject to a six-month statutory hold under the U.S. Securities Act of 1933. A Registration Statement on Form S-1 has been filed with the SEC to register the shares for resale, which,