Subsequent events

3 Months Ended

Mar. 31, 2025

Subsequent Events [Abstract]

Subsequent events [Text Block]

12. Subsequent Events

On April 26, 2025, the Company signed a binding Letter of Intent to acquire Antev Ltd., a UK-based late clinical-stage drug development company. The deal is expected to close in June 2025. Per the terms of the agreement, the Company will acquire all issued and outstanding shares of Antev Ltd., on a fully diluted basis, in exchange for 2,666,600 (or approximately 19% in aggregate) of the Company's issued and outstanding common shares.  Antev Ltd. shareholders will be entitled to receive up to $65 million in additional contingent consideration.  No assurances can be made that the parties will successfully negotiate and enter into a definitive agreement, or that the proposed transactions will be consummated on the terms or timeframe currently contemplated, or at all.

On May 2, 2025, the Company entered into a securities purchase agreement (the "Purchase Agreement") with Yorkville in connection with the issuance and sale by the Company of debentures (the "Debentures") issuable in an aggregate principal amount of up to $5,000,000 (the "Subscription Amount"). Yorkville purchased and the Company issued $1,250,000 in aggregate principal amount of Debentures upon the signing of the Purchase Agreement, for net proceeds to the company of $1,125,000. An additional $3,750,000 is available to the Company in accordance with the Purchase Agreement at the Company's election and upon the achievement of certain triggers. The Debenture is guaranteed by each of the Company's subsidiaries pursuant to a global guaranty agreement. Interest will accrue on the outstanding principal amount of each Debenture at an annual rate of 8.00%, subject to a potential increase to 18.00% per annum upon the occurrence of certain events of default. The Debentures will mature on February 2, 2026.