Core Viewpoint - Medicus Pharma Ltd. has successfully closed a public offering of 2,260,000 units at a price of $3.10 per unit, which includes common shares and warrants for future purchases [1][2]. Group 1: Offering Details - The offering was conducted on a "best-efforts" basis, with each unit comprising one common share and one warrant to purchase an additional common share at the same price of $3.10, expiring in five years [1][2]. - Maxim Group LLC served as the lead placement agent, with Brookline Capital Markets and D. Boral Capital acting as co-placement agents [2]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily fund a Phase 2 proof of concept clinical trial for treating basal cell carcinoma using a doxorubicin-loaded dissolvable microarray needle skin patch [3]. - Additional proceeds may be allocated to expand the exploratory Phase 2 clinical trial to a pivotal trial and to cover other non-melanoma skin diseases, with any remaining funds directed towards general corporate purposes and working capital [3]. Group 3: Company Overview - Medicus Pharma Ltd. is a biotech/life sciences company focused on advancing clinical development programs for innovative therapeutics [6]. - SkinJect Inc., a wholly owned subsidiary, is developing a non-invasive treatment for basal cell skin cancer using a patented dissolvable microneedle patch [7]. - The company has completed a Phase 1 safety and tolerability study and is currently conducting multiple Phase 2 clinical studies in the United States, Europe, and the UAE [7]. Group 4: Acquisition Plans - In April 2025, the company announced a binding letter of intent to acquire Antev Ltd., a UK-based biotech company developing a next-generation GnRH antagonist for high-risk prostate cancer patients [8]. - The acquisition is subject to due diligence, negotiation of definitive agreements, and obtaining necessary approvals, with no guarantees of successful completion [8].
Medicus Pharma Ltd. Announces Closing of $7.0 Million Public Offering