Medicus Pharma Ltd. Completes Acquisition of Antev Limited, Expanding Drug Development Pipeline
Reuters
Sep 02
<a href="https://laohu8.com/S/MDCX">Medicus Pharma Ltd.</a> Completes Acquisition of Antev Limited, Expanding Drug Development Pipeline
Medicus Pharma Ltd. has completed the acquisition of 98.6% of Antev Limited's issued and outstanding shares, a move that bolsters its drug development pipeline. The transaction involved approximately US$2.97 million in cash and 1,603,164 common shares of Medicus. Antev, a UK-based clinical-stage drug development company, is advancing Teverelix, a next generation GnRH antagonist aimed at treating acute urinary retention and advanced prostate cancer, representing a US$6 billion market opportunity. Following the acquisition, Patrick J. Mahaffy, former Chairman of Antev, joins the Medicus Board of Directors. Dr. Paul Marchetto and Dr. Faisal Mehmud have been appointed Co-Chairmen of Antev's Board, while Amit Kohli remains the Interim CEO. Dr. Raza Bokhari, Executive Chairman & CEO of Medicus, expressed confidence in Teverelix's potential as a first-in-class product.
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