Medicus Pharma Acquires Antev Ltd, Developing Teverelix for Acute Urinary Retention

Medicus Pharma Ltd. has completed the acquisition of Antev Limited, a UK-based clinical-stage drug development company. Antev is developing Teverelix, a next-generation GnRH antagonist for Acute Urinary Retention and high CV risk Prostate Cancer. The acquisition offers a potential market opportunity of US$6 billion. Patrick J. Mahaffy, a veteran pharma executive, has been appointed to Medicus' Board of Directors.

Medicus Pharma Ltd. (NASDAQ: MDCX) has completed the acquisition of Antev Limited, a UK-based clinical-stage drug development company. The acquisition brings Teverelix, a next-generation GnRH antagonist, into Medicus' portfolio, targeting Acute Urinary Retention (AURr) and high cardiovascular risk Prostate Cancer. This move presents a significant market opportunity of approximately US$6 billion.

The acquisition was finalized with Medicus acquiring 98.6% of Antev's issued and outstanding shares for an aggregate consideration of approximately US$2.97 million in cash and 1,603,164 common shares of Medicus. Additionally, former Antev shareholders are entitled to receive up to approximately US$65 million in contingent consideration tied to future FDA approvals [1].

Teverelix, Antev's flagship drug candidate, is a long-acting gonadotrophin-releasing hormone (GnRH) antagonist. Unlike GnRH agonists, Teverelix directly suppresses sex hormone production without an initial surge in testosterone levels, potentially reducing cardiovascular risks. The drug is formulated as a microcrystalline suspension, allowing for sustained release and a six-week dosing interval.

Medicus' acquisition of Antev includes a planned Phase 2b study for Teverelix in advanced prostate cancer patients with increased cardiovascular risk. This study aims to recruit 40 men and is designed to confirm castration rates by day 29 and sustain them to day 155 with a probability greater than 90%. Additionally, a Phase 2b study for acute urinary retention is underway, with a randomized controlled double-blind design involving 390 men in the United States and European Union [1].

Following the acquisition, Patrick J. Mahaffy, a veteran pharma executive and former Chairman of Antev, has been appointed to Medicus' Board of Directors. Dr. Paul Marchetto and Dr. Faisal Mehmud have been appointed Co-Chairmen of Antev's Board of Directors, with Carolyn Bonner and Viktoria Slepeniuk also joining the board. Amit Kohli continues to serve as the Interim Chief Executive Officer and a director of Antev [1].

Medicus Pharma, focused on advancing the clinical development programs of novel and potentially disruptive therapeutic assets, has shown a strategic move by acquiring Antev. This acquisition not only enhances its drug development pipeline but also strengthens its team, both at the board and management level.

For further information, contact Carolyn Bonner, President, at (610) 636-0184 or cbonner@medicuspharma.com.

References:
[1] https://finance.yahoo.com/news/medicus-pharma-ltd-completes-acquisition-113000757.html