Press Release
Jun 26, 2023
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 commentedWe 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.”