Core Viewpoint - Medicus Pharma Ltd has entered into a definitive agreement to acquire Antev Ltd, a UK-based clinical-stage drug development company, with Antev shareholders receiving approximately 17% equity stake in Medicus and up to US$65 million in contingent payments tied to future FDA approvals [1][4]. Group 1: Transaction Details - Medicus will acquire all issued and outstanding Antev Shares in exchange for 2,666,600 Medicus common shares, representing approximately 17% of the total shares [2]. - The transaction is expected to close by the end of August 2025, pending certain closing conditions including shareholder approval [5]. - Antev shareholders will be subject to a 9-month staggered lock-up and will grant voting rights to Medicus management for 36 months [3]. Group 2: Antev's Product Pipeline - Antev is developing Teverelix, a next-generation GnRH antagonist, targeting high-risk prostate cancer patients and those experiencing acute urinary retention due to enlarged prostate [6][14]. - Teverelix aims to prevent recurrence of acute urinary retention in men aged 45 and older, with a potential market opportunity exceeding US$2 billion annually [7]. - The FDA has approved a Phase 2b study for Teverelix in acute urinary retention, involving 390 participants [19]. Group 3: Market Potential - For advanced prostate cancer patients with increased cardiovascular risk, Teverelix presents a potential market opportunity of over US$4 billion annually, targeting 300,000 to 500,000 men in the US [10]. - Teverelix is designed to provide a hormone therapy option with potentially lower cardiac toxicity compared to conventional treatments [15]. Group 4: Clinical Development - Antev has completed a Phase 1 clinical trial for Teverelix, demonstrating good tolerance and rapid testosterone suppression [16]. - The company has also completed a Phase 2a study, achieving a primary endpoint of over 90% testosterone suppression but not maintaining this rate beyond 42 days [17]. - The FDA has provided guidance on Antev's proposed Phase 3 trial design for Teverelix, supporting its clinical development plans [18].
Medicus Pharma Ltd Announces a Definitive Agreement to Acquire Antev Ltd. UK