Medicus Pharma Secures $8 Million Financing for Drug Development

Medicus Pharma Ltd. has announced an $8 million financing through a non-dilutive debenture agreement with Yorkville Advisors Global, LP. The proceeds will accelerate the development of Teverelix, a next-generation GnRH antagonist targeting Acute Urinary Retention and high cardiovascular risk prostate cancer. The potential market opportunity is valued at approximately $6 billion.

The debenture carries an 8% annual interest and matures in twelve months. Proceeds after refinancing and fees amount to approximately $5.7 million. Medicus Pharma can redeem the debenture before maturity. Yorkville may require redemption using proceeds from any Company equity financing during the debenture term.

The financing aims to enhance Teverelix's position in the market, with its unique formulation promising better patient compliance and outcomes. Key clinical developments include FDA-approved designs for Phase 2b studies targeting both advanced prostate cancer and acute urinary retention.