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Medicus Pharma to Highlight Rationale for CD228V Co-Development and License Agreement

MDCX
  • Medicus Pharma Ltd. outlined a capital efficiency strategy prioritizing CD228V development while pursuing a separate public listing for SkinJect® via a SPAC transaction to preserve Teverelix®'s partnering readiness.
  • The Company entered a co-development & license agreement with Pfizer Inc. for CD228V, an antibody-drug conjugate utilizing Pfizer's vedotin linker-payload platform directed against melanotransferrin (CD228).
  • Medicus intends to focus CD228V initial development on melanoma cases that are relapsed, refractory, or resistant to immunotherapy, with a potential objective response rate target exceeding 30%.
  • A non-binding letter of intent was announced for SkinJect® to merge with an undisclosed SPAC, targeting a $135 million pre-money valuation with Medicus retaining majority economic & voting ownership.
  • The proposed SkinJect® transaction includes concurrent equity financing to support the SKNJCT-005 study in Gorlin syndrome and potential NDA submission, with projected costs of approximately $3 million over the next two years.
  • Management anticipates completing the SkinJect® transaction during the first half of 2027, though the deal remains subject to definitive agreements, financing, & regulatory requirements.
  • For Teverelix®, the Company is seeking partners for urology, advanced prostate cancer, & women's health indications while maintaining program readiness & aligning the prostate cancer protocol with FDA feedback.
  • In the nine months ended September 30, 2026, Medicus raised approximately $42.6 million through equity & debt financings, resulting in $36.2 million in net cash from financing activities after debt repayments.
  • Selected financial results for the quarter show operating expenses of $14.5 million & a net loss of $15.2 million, with the nine-month period including $9.6 million in R&D expenses & a $10.0 million acquired in-process R&D charge.
  • As of September 30, 2026, the Company held a combined total of $13.1 million in cash & restricted cash, up from $8.7 million at the end of 2025.
  • Management anticipates a substantial reduction in operating expenses in coming quarters to align organizational costs with portfolio priorities centered on CD228V.
Company
Medicus Pharma Ltd
Keywords
Healthcare & Pharmaceutical, Company Update