Medicus Pharma Ltd. announced its wholly-owned subsidiary, Skinject, Inc., has entered into a non-binding letter of intent (LOI) for a proposed business combination with an undisclosed special purpose acquisition company (SPAC). The transaction is intended to establish SkinJect as a separately listed public company to advance its dermatology program for Gorlin syndrome.

Key Details

  • Transaction Terms: The proposed business combination involves a pre-money enterprise valuation for SkinJect of approximately $135 million.
  • Financing & Purpose: The deal includes a concurrent equity financing to fund the SKNJCT-005 NDA-enabling study for SkinJect®, an investigational treatment for Gorlin syndrome. Medicus intends to retain a majority economic and voting ownership in the new entity.
  • Timeline & Conditions: The LOI is non-binding and subject to definitive agreements, due diligence, and other closing conditions. The company anticipates completing the transaction in the first half of 2027.