Actimed Therapeutics Ltd, a London, UK-based clinical stage company focused on bringing innovation to the treatment of muscle wasting disorders, with a focus on cachexia, closed its extended Seed B financing round which has raised in excess of £2.5m.
The proceeds will allow the company to further advance the development of its lead compound, S-pindolol (ACM-001.1), for cancer cachexia, by performing a Pharmacokinetic (PK) and Pharmacodynamic (PD) study due to start later this year. Following discussions with EMA and MHRA, this study will investigate the PK and PD properties of a new formulation of S-pindolol developed by Actimed. The completion of this study will then pave the way to a full Phase 2b programme, which is planned to commence in 2022.
These funds will also support ongoing development plans for S-oxprenolol in amyotrophic lateral sclerosis (ALS) where Actimed retains all rights.
Founded in 2017 by Stefan Anker and Andrew Coats, Actimed Therapeutics is a clinical stage biopharmaceutical company focused on bringing innovation to the treatment of muscle wasting disorders.
The lead area of focus for Actimed is specifically in cachexia, a wasting disease that accompanies cancer and other serious chronic illnesses and is associated with significant morbidity and mortality. The lead product, S-pindolol (ACM-001.1), formerly known as MT-102, targets multiple pathways that drive cachexia and has generated promising proof of concept Phase II clinical data in cachexia patients. The company is currently preparing for further clinical studies in cachexia in Non-Small Cell Lung Cancer (NSCLC) and Colorectal Cancer (CRC).
Actimed has licensed the global rights to develop and commercialise S-oxprenolol, the Company’s second product, for cancer cachexia and any other indications outside of amyotrophic lateral sclerosis (ALS) to Faraday Pharmaceuticals. Actimed retains global rights to S-oxprenolol in ALS, where loss of body mass and muscle wasting may impact survival.
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SOURCE Actimed Therapeutics