<SEC-DOCUMENT>0000950142-26-001279.txt : 20260505
<SEC-HEADER>0000950142-26-001279.hdr.sgml : 20260505
<ACCEPTANCE-DATETIME>20260505105439
ACCESSION NUMBER:		0000950142-26-001279
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260505
DATE AS OF CHANGE:		20260505

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Medicus Pharma Ltd.
		CENTRAL INDEX KEY:			0001997296
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				981778211
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-94797
		FILM NUMBER:		26941305

	BUSINESS ADDRESS:	
		STREET 1:		300 CONSHOHOCKEN STATE RD.
		STREET 2:		SUITE 200
		CITY:			W. CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
		BUSINESS PHONE:		610-540-7515

	MAIL ADDRESS:	
		STREET 1:		300 CONSHOHOCKEN STATE RD.
		STREET 2:		SUITE 200
		CITY:			W. CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Raju Ajay
		CENTRAL INDEX KEY:			0002049841
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	MAIL ADDRESS:	
		STREET 1:		TWO LIBERTY PLACE
		STREET 2:		50 S. 16TH STREET, SUITE 2710
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19102
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Raju Ajay -->
          <cik>0002049841</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Shares, no par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001997296</issuerCik>
        <issuerName>Medicus Pharma Ltd.</issuerName>
        <issuerCusips>
          <issuerCusipNumber>58471K202</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>100 KING STREET WEST</com:street1>
          <com:street2>SUITE 3400</com:street2>
          <com:city>ONTARIO</com:city>
          <com:stateOrCountry>A6</com:stateOrCountry>
          <com:zipCode>M5X 1A4</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Raju Ajay</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>2031250.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>2031250.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2031250.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>3.7</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>(1) Consists of 2,000,000 common shares (the "Common Shares") of Medicus Pharma Ltd. (the "Company") held of record by 215 Capital Togo PHL Fund I, LP ("215 Capital") and 31,250 Common Shares underlying stock options held of record by Mr. Ajay Raju that are currently exercisable. Togo PHL Management LLC (the "Management Company") has been delegated the responsibilities of the general partner of 215 Capital, Togo PHL Fund I GP, LLC, including the voting and dispositive power over the shares reported herein. Mr. Raju is responsible for managing the affairs of the Management Company including the voting and dispositive power over the shares reported herein. Mr. Raju therefore may be deemed to have voting and dispositive power over the shares reported herein.

(2) Based on 55,164,465 Common Shares outstanding as of April 30, 2026 as reported in the Company's Definitive Proxy Statement on Schedule 14A filed on May 4, 2026.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>215 Capital Togo PHL Fund I, LP</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>2000000.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>2000000.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2000000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>3.6</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>(1) Consists of 2,000,000 the Common Shares of the Company held of record by 215 Capital. The Management Company has been delegated the responsibilities of the general partner of 215 Capital, Togo PHL Fund I GP, LLC, including the voting and dispositive power over the shares reported herein. Mr. Ajay Raju is responsible for managing the affairs of the Management Company including the voting and dispositive power over the shares reported herein. Mr. Raju therefore may be deemed to have voting and dispositive power over the shares reported herein.

(2) Based on 55,164,465 Common Shares outstanding as of April 30, 2026 as reported in the Company's Definitive Proxy Statement on Schedule 14A filed on May 4, 2026.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Togo PHL Management LLC</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>2000000.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>2000000.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2000000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>3.6</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>(1) Consists of 2,000,000 the Common Shares of the Company held of record by 215 Capital. The Management Company has been delegated the responsibilities of the general partner of 215 Capital, Togo PHL Fund I GP, LLC, including the voting and dispositive power over the shares reported herein. Mr. Ajay Raju is responsible for managing the affairs of the Management Company including the voting and dispositive power over the shares reported herein. Mr. Raju therefore may be deemed to have voting and dispositive power over the shares reported herein.

(2) Based on 55,164,465 Common Shares outstanding as of April 30, 2026 as reported in the Company's Definitive Proxy Statement on Schedule 14A filed on May 4, 2026.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Medicus Pharma Ltd.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>300 Conshohocken State Road, Suite 200, W. Conshohocken, PA 19428</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>i.      Ajay Raju
ii.     Togo PHL Management LLC;
iii.    215 Capital Togo PHL Fund I, LP;</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Two Liberty Place
50 South 16th Street
Suite 2710
Philadelphia, Pennsylvania 19102</principalBusinessOfficeOrResidenceAddress>
        <citizenship>i.      Ajay Raju (United States)
ii.     Togo PHL Management LLC (Delaware)
iii.    215 Capital Togo PHL Fund I, LP (Delaware)</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>The information contained in Items 5-9 of the cover pages of this amended Schedule 13G is hereby incorporated by reference into this Item 4.</amountBeneficiallyOwned>
        <classPercent>3.7</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>2,031,250</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>2,031,250</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>Y</notApplicableFlag>
      </item10>
    </items>
    <exhibitInfo>Exhibit 99.1 Joint Filing Agreement was previously filed: https://www.sec.gov/Archives/edgar/data/1997296/000121465925000501/ex99_1.htm.</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Raju Ajay</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ajay Raju</signature>
        <title>Ajay Raju in his individual capacity</title>
        <date>05/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>215 Capital Togo PHL Fund I, LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ajay Raju</signature>
        <title>Ajay Raju as Managing Member of Togo PHL Management LLC, the Management Company</title>
        <date>05/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Togo PHL Management LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ajay Raju</signature>
        <title>Ajay Raju as Managing Member</title>
        <date>05/04/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
