New Delhi, 27th January 2023: Mankind Pharma Ltd on Monday announced that it has invested in a clinical stage specialty pharmaceutical company, Actimed Therapeutics Ltd, UK. Actimed Therapeutics is focused on bringing innovation to the treatment of cancer cachexia, an unmet medical need for cancer patients, and other muscle wasting disorders.
Mankind’s investment helped Actimed close its second and final tranche of seed financing. Actimed is developing its lead asset S-pindolol for the treatment of cancer cachexia and has successfully completed a pharmacokinetic/pharmacodynamic (PK/PD) study for the drug which met all pre-defined objectives. This is a key clinical milestone supporting its further clinical development based on which Actimed is now planning Phase 2b/3 studies in cancer cachexia which will be conducted in strategic markets. The investment will support Actimed’s planned clinical development activities including the preparation for the Phase 2b/3 programme for S-pindolol benzoate.
Following the investment, Atish Majumdar, President (Sales & Marketing) of Mankind Pharma joins Actimed Therapeutics as a member of its Board of Directors.
Atish Majumdar, President (Sales & Marketing) at Mankind Pharma commented “Mankind Pharma is proud to have led this final tranche of seed financing that will support the further advancement of Actimed Therapeutic’s pipeline. At Mankind, we believe that innovation will be a key part of our future growth strategy and this first such overseas investment represents a further step along that pathway. We have been inspired by Actimed’s novel pipeline and recognise the significant potential of S-pindolol benzoate as a new therapeutic option for cancer cachexia. We very much look forward to working with the experienced board and leadership team of Actimed to bring innovative new therapies to patients with cachexia.”
Robin Bhattacherjee, Chief Executive Officer of Actimed Therapeutics commented “We are thrilled to announce the successful closing of this financing round, which brings our total seed funding to £10 million. The financing includes support from both longstanding and new investors, notably Mankind Pharma, demonstrating confidence in our strategic goal to develop innovative globally approved treatments for cancer cachexia and other muscle wasting conditions. We are particularly pleased by the support from Mankind and warmly welcome Atish Majumdar to our Board of Directors. With these funds, we will complete feasibility activities for the clinical development programme for S-pindolol benzoate.”
Incorporated in 1991 with headquarters in New Delhi, India, Mankind Pharma is one of India’s leading pharmaceutical companies engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations across acute and chronic therapeutic areas, as well as several consumer healthcare products.
Predominantly focused on the domestic market, the Company operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices and has an established track record of building and scaling brands in-house.
As of March 31, 2022, the company employs over 21,000 employees and has 23 manufacturing facilities and 3 R&D centers. Its products are sold in 20 countries.
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 Company’s lead product, 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 survival. Actimed has licensed the global rights to develop and commercialise S-oxprenolol for cancer cachexia and any other indications outside of ALS to an US company.
*This press release is published by VOH team.*
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