Medicus to acquire Antev in all-stock deal worth up to $65 million

PHILADELPHIA - Medicus Pharma Ltd. (NASDAQ:MDCX), whose shares have surged nearly 24% in the past week according to InvestingPro data, announced Monday it has entered into a definitive agreement to acquire UK-based clinical-stage drug developer Antev Ltd. in an all-stock transaction.

Under the terms of the agreement signed June 29, Antev shareholders will receive approximately 2.67 million Medicus common shares, representing about 17% of Medicus’ outstanding shares. The deal also includes potential contingent payments of up to $65 million tied to future FDA Phase 2 and New Drug Application approvals. Based on Medicus’ current market capitalization of $45.91 million, the initial stock consideration values Antev at approximately $7.8 million.

The acquisition is expected to close by the end of August 2025, subject to Antev shareholder approval and other regulatory clearances.

Antev is developing Teverelix, a next-generation GnRH antagonist targeting two primary indications. The drug aims to be the first-in-class treatment for preventing recurrent acute urinary retention in men with enlarged prostates, a condition affecting nearly one million patients annually in the U.S.

Antev has received FDA approval for a Phase 2b study designed to randomize 390 men who have experienced acute urinary retention. The company estimates this indication represents a potential $2 billion annual market opportunity.

Additionally, Teverelix is being developed as a treatment for advanced prostate cancer patients with increased cardiovascular risk. Antev has FDA approval for a Phase 2b open-label study to recruit 40 men with advanced prostate cancer, targeting a potential $4 billion annual market.

The acquisition follows Medicus’ ongoing development of its SkinJect microneedle patch technology for basal cell skin cancer, which is currently in Phase 2 clinical trials in the United States and UAE. Analysts tracked by InvestingPro remain optimistic about the company’s pipeline, with price targets ranging from $12 to $27, significantly above the current trading price of $2.90.

The transaction includes a nine-month staggered lock-up period for Antev shareholders and grants certain voting rights to Medicus management for 36 months. InvestingPro data shows Medicus maintains a "GREAT" financial health score of 3.17, suggesting strong positioning for this strategic acquisition. Subscribers can access 12 additional ProTips and comprehensive financial metrics for deeper analysis.

This information is based on a company press release statement.

In other recent news, Medicus Pharma Ltd. has announced its intention to acquire Antev Ltd., a UK-based biotech firm, through a binding letter of intent. This acquisition, valued at approximately $75 million, will bring Antev’s promising drug candidate Teverelix into Medicus’s portfolio, targeting prostate cancer and acute urinary retention. Boral Capital has responded to this development by raising Medicus Pharma’s stock target from $14.00 to $27.00, maintaining a Buy rating. In financial updates, Medicus Pharma successfully completed a public offering, raising $7 million to fund clinical trials, including a Phase 2 trial for a basal cell carcinoma treatment. The company is also advancing its SKNJCT-003 Phase 2 clinical study, with interim results indicating more than 60% clinical clearance. Additionally, Medicus is expanding its clinical trial sites to Europe and conducting another study in the United Arab Emirates. The company has also submitted a plan to the FDA for a novel equine cancer treatment, potentially offering a non-invasive alternative to current methods. These developments reflect Medicus Pharma’s ongoing efforts to enhance its cancer treatment portfolio for both human and veterinary medicine.

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