Actimed Therapeutics closes over-subscribed Series A Financing Round of £5 million to advance clinical development of lead programme for cancer cachexia
London, UK – 26 June 2023. Actimed Therapeutics Ltd (“Actimed”), a UK based clinical stage specialty pharmaceutical company focused on bringing innovation to the treatment of cancer cachexia and other muscle wasting disorders, announces that it has raised over £5 million in an over-subscribed Series A financing round. This investment will support the development of the Actimed pipeline, including S-pindolol benzoate, with preparations under way for a Phase 2b/3 programme (the “IMPACT” programme) targeted at the treatment of cancer cachexia in non-small cell lung cancer and colorectal cancer.
The Series A round involved participation from existing investors, including leading India-based pharmaceutical company, Mankind Pharma (market cap ~US$8.3bn), together with a number of new non-institutional investors.
Proceeds from the financing will be used to further advance the Actimed development portfolio, notably its lead asset S-pindolol benzoate. Actimed is currently completing preparations for regulatory filings of S-pindolol benzoate to support the initiation of the global Phase 2b/3 IMPACT clinical development programme.
S-pindolol has demonstrated promising results in a Phase 2a, proof of concept trial, the ACT-ONE trial, and Actimed has successfully completed a pharmacokinetic/pharmacodynamic (PK/PD) study with S-pindolol benzoate that met all pre-defined clinical objectives.
Earlier this year, Actimed launched a Series B financing round aimed at funding the IMPACT programme to completion. London-based Life Sciences specialist advisory firm WG Partners is assisting Actimed in the Series B financing, targeting investors specialising in Life Sciences or with relevant expertise in Life Sciences. Actimed aims to close the Series B financing in the second half of 2023.
Robin Bhattacherjee, Chief Executive Officer of Actimed Therapeutics commented “We are delighted to announce the rapid and successful closing of our oversubscribed Series A financing round, which follows the £10 million in seed financing we announced earlier this year. We are well positioned to advance the clinical development of S-pindolol benzoate, which has demonstrated a highly promising profile for the treatment of cancer cachexia, where there remains a high unmet need. As we move towards late-stage development, we are excited by the prospects for this important new therapy which could potentially transform the lives of patients suffering from this often fatal condition.”
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About Actimed Therapeutics
Actimed Therapeutics is a clinical stage specialty pharmaceutical company focused on bringing innovation to the treatment of muscle wasting disorders to transform the care of an underserved and vulnerable patient population. Actimed was founded in 2017 by Stefan Anker and Andrew Coats, two eminent physicians in muscle wasting research, together with Yann Colardelle, a professional in communications and medical education who has been involved in research and education in cachexia for many years.
The lead area of focus for Actimed is specifically in cachexia. Cachexia is a wasting disease that is associated with cancer and other serious chronic illnesses and with significant morbidity and mortality. A significant number of cancer patients suffer from cachexia1 and it is estimated that cachexia is responsible for up to 20% of all cancer deaths2.
Despite its prevalence and devastating clinical effects, there is no globally approved drug for the treatment or prevention of cancer-related cachexia.
The lead product of Actimed, S-pindolol benzoate (ACM-001.1) targets multiple pathways that drive cachexia and has generated promising proof of concept Phase 2a clinical data in cachexia patients. Actimed is currently preparing for further phase 2b/3 clinical studies in cachexia in Non-Small Cell Lung Cancer (NSCLC) and Colorectal Cancer (CRC).
Actimed also owns the global rights to its second asset, S-oxprenolol, which is being developed by the Company for the muscle wasting seen in amyotrophic lateral sclerosis (ALS) where loss of body mass and muscle wasting may impact survival3. Actimed has licensed the global rights to develop and commercialise S-oxprenolol for cancer cachexia and any other indications outside of ALS to US company Faraday Pharmaceuticals.
FOR MORE INFORMATION
Actimed Therapeutics
www.actimedtherapeutics.com
MEDiSTRAVA Consulting
Frazer Hall, Evelyn McCormack
Tel: +44 (0)203 928 6900
Email: actimed@medistrava.com
WG Partners LLP
Nigel Barnes, Satheesh Nadarajah, Robin Stürken
Tel: +44 (0) 203 705 9330
Email: olga@wgpartners.co.uk
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Anker M et al., J. Cachexia, Sarcopenia and Muscle; 2019: 10: 22 – 24
2 Argilés JM et al, Nat Rev Cancer 2014; 14:754-62
3Wolf J et al., PMID 28184974 DOI: 10.1007/s00115-117-0293
