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, today announces it has raised a further £4.75m in an extension to its recent Series A financing round which was completed in June this year.
The extension of the Series A round follows strong interest from the Company’s existing major investors, including Mankind Pharma. This brings total proceeds from the round to £9.75m, providing the Company with a cash runway through 2024. These proceeds will be used to fund the continued development of the Company and will ensure that preparations remain on track for the global Phase 2b/3 IMPACT clinical development programme evaluating its lead asset, S-pindolol benzoate in treating cachexia associated with non-small cell lung cancer and colorectal cancer.
Despite advances in the treatment of cancer itself, cancer cachexia is a major global health challenge and a significant unmet medical need. A recent meta-analysis demonstrated that cachexia was associated with an 82% higher relative risk of mortality in patients with NSCLC versus no cachexia1. S-pindolol has demonstrated promising results in an exploratory Phase 2a, proof of concept trial, the ACT-ONE trial2, and Actimed has successfully completed a Phase 1 pharmacokinetic/pharmacodynamic (PK/PD) study with S-pindolol benzoate that met all pre-defined objectives. Actimed aims to dose the first patient in the IMPACT Phase 2b/3 clinical programme in 2024.
Robin Bhattacherjee, Chief Executive Officer of Actimed Therapeutics commented “In this challenging financing environment, we are very pleased with the desire and willingness of our shareholders to support the company’s continued progress with this additional funding committed as an extension of our recently over-subscribed Series A round. Our resulting strong financial runway will allow us to complete the important preparations for our planned Phase 2b/3 IMPACT programme in cancer cachexia which we plan to initiate in the first half of next year. If successful, this could provide the pathway to the first globally approved product to treat this highly prevalent condition, for which there remains a huge unmet need”.
Earlier this year, Actimed commenced the preparations for a Series B financing round which is designed to fund the IMPACT clinical programme to completion. WG Partners, a London-based Life Sciences specialist advisory firm, is assisting Actimed in the Series B financing which is now well advanced.
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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 cachexia3 and it is estimated that cachexia is responsible for up to 20% of all cancer deaths4. A 2023 meta-analysis demonstrated that cachexia was associated with an 82% higher relative risk of mortality in patients with NSCLC versus no cachexia1.
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 survival5. 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.
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Actimed Therapeutics
www.actimedtherapeutics.com
