Medicus proposes $135 million SkinJect business combination and concurrent financing

The proposal remains at the letter-of-intent stage and is non-binding except for certain limited procedural provisions; satisfactory due diligence and definitive agreements are required.

The intended structure would establish a separately listed company dedicated to SkinJect and provide a dedicated financing platform for its rare-disease dermatology program while allowing Medicus to retain majority economic and voting ownership.

Final ownership would depend on the agreed capitalization, including retained SPAC cash, public and sponsor shares, warrants and other potentially dilutive securities.

The concurrent equity financing would fund the SKNJCT-005 study and preparation and submission of a potential New Drug Application, but its amount, pricing and security type were not disclosed.

The FDA's Study May Proceed letter authorizes initiation of the planned NDA-enabling registrational Phase 2b SKNJCT-005 study.

Completion is anticipated during the first half of 2027 and requires financing, a minimum-cash condition, board and shareholder approvals, SEC registration requirements, stock-exchange listing approval and other agreed conditions.