Medicus Pharma completes Antev acquisition for ~$3M cash + 1.6M shares; up to $65M contingent

Medicus Pharma Ltd.

• Acquired 98.6% of Antev for ~$3.0M cash and 1,603,164 MDCX shares; up to $65M in contingent milestones tied to FDA Phase 2 and NDA approvals.
• Antev develops Teverelix, a GnRH antagonist for acute urinary retention and high-CV-risk prostate cancer; targets ~$6B market.
• Patrick J. Mahaffy, former Antev chairman and ex-CEO of Clovis Oncology, appointed to board; receives 25,000 stock options at $1.94 vesting quarterly over 12 months.
• Consideration shares subject to staggered 210-day lock-up (15% released every 30 days from effective registration; final 10% at 210 days).
• Sold 250,000 common shares to Yorkville via SEPA for ~$490,535 net proceeds; proceeds to prepay outstanding debentures.