SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Raju Ajay

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,031,250.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,031,250.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,031,250.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

3.7 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: (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.

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

215 Capital Togo PHL Fund I, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,000,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,000,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: (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.

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Togo PHL Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,000,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,000,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: (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.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Medicus Pharma Ltd.

(b)

Address of issuer's principal executive offices:

300 Conshohocken State Road, Suite 200, W. Conshohocken, PA 19428

Item 2.

(a)

Name of person filing:

i. Ajay Raju ii. Togo PHL Management LLC; iii. 215 Capital Togo PHL Fund I, LP;

(b)

Address or principal business office or, if none, residence:

Two Liberty Place 50 South 16th Street Suite 2710 Philadelphia, Pennsylvania 19102

(c)

Citizenship:

i. Ajay Raju (United States) ii. Togo PHL Management LLC (Delaware) iii. 215 Capital Togo PHL Fund I, LP (Delaware)

(d)

Title of class of securities:

Common Shares, no par value per share

(e)

CUSIP No.:

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

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.

(b)

Percent of class:

3.7 %

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

2,031,250

(ii) Shared power to vote or to direct the vote:

0

(iii) Sole power to dispose or to direct the disposition of:

2,031,250

(iv) Shared power to dispose or to direct the disposition of:

0

Item 5.

Ownership of 5 Percent or Less of a Class.

Ownership of 5 percent or less of a class

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Raju Ajay

Signature:	/s/ Ajay Raju
Name/Title:	Ajay Raju in his individual capacity
Date:	05/04/2026

215 Capital Togo PHL Fund I, LP

Signature:	/s/ Ajay Raju
Name/Title:	Ajay Raju as Managing Member of Togo PHL Management LLC, the Management Company
Date:	05/04/2026

Togo PHL Management LLC

Signature:	/s/ Ajay Raju
Name/Title:	Ajay Raju as Managing Member
Date:	05/04/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement was previously filed: https://www.sec.gov/Archives/edgar/data/1997296/000121465925000501/ex99_1.htm.