Biotechnology

Acted Therapeutics raises £5 million for cancer cachexia

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Actimed Therapeutics Ltd, a UK-based clinical-stage specialty pharmaceutical company focused on bringing innovation to the treatment of cancer cachexia and other muscle wasting disorders, has raised more than £5 million ($6.4 million) in an oversubscribed Series A financing round. .

This investment will support the development of Actimed’s pipeline, including S-pindolol benzoate, with ongoing preparations for a phase 2b/3 program (IMPACT program) targeted at the treatment of cancer cachexia in non-small cell lung cancer and colorectal cancer.

The Series A round saw participation from existing investors, including India-based pharmaceutical company Mankind Pharma, as well as new non-institutional investors.

Proceeds from the financing will be used to further advance Actimed’s development portfolio, particularly its main asset S-pindolol benzoate. Actimed is currently finalizing the preparation of a regulatory filing for S-pindolol benzoate to support the initiation of the global IMPACT phase 2b/3 clinical development program.

S-pindolol has shown promising results in phase 2a, proof-of-concept trials, ACT-ONE trials, and the company has completed a pharmacokinetic/pharmacodynamic (PK/PD) study with S-pindolol benzoate that met all of the clinical standards defined previously. objective.

Earlier this year, Actimed launched a Series B financing round aimed at funding the IMPACT program through to completion. Series B financing is targeted to be completed in the second half of 2023.

Robin Bhattacherjee, chief executive officer of Actimed Therapeutics, said: “We are delighted to announce the swift and successful closing of our oversubscribed Series A financing round, which follows the £10 million seed financing we announced earlier this year. We are well positioned to advance the clinical development of S-pindolol benzoate, which has shown a very promising profile for the treatment of cancer cachexia, where there is still an unmet need.

“As we move into late-stage development, we are excited about the prospect of this important new therapy that has the potential to change the lives of patients suffering from this often fatal condition.”

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