The NASDAQ-listed biotech secures $22 million in structured financing to fund clinical programs and extend liquidity beyond 24 months.
Medicus Pharma (NASDAQ:MDCX) has finalized a $22 million non-dilutive financing facility with an institutional investor, bolstering its cash position to approximately $30 million. The deal provides immediate access to $12 million, with an additional $10 million tied to milestone achievements, and is expected to support operations for over two years.
The financing includes two secured promissory notes: a $12.86 million note at 8.75% interest with a 6.5% original issue discount, and a $10 million note at 5% interest. Both notes mature in 18 months and are backed by company assets. Maxim Group served as the exclusive placement agent for the transaction.
Proceeds will advance clinical development, explore strategic opportunities, and cover general corporate needs. The company’s liquidity outlook improves as it pursues pipeline growth without diluting shareholders.