Mankind Pharma invests in Actimed Therapeutics, a UK based mostly scientific stage specialty pharma firm

New Delhi, twenty third January 2023: Mankind Pharma Ltd on Monday introduced that it has invested in a clinical-stage specialty pharmaceutical firm, Actimed Therapeutics Ltd, UK. Actimed Therapeutics is targeted on bringing innovation to the remedy of most cancers cachexia, an unmet medical want for most cancers sufferers, and different muscle-wasting issues.

Mankind’s funding helped Actimed shut its second and closing tranche of seed financing. Actimed is creating its lead asset S-pindolol for the remedy of most cancers cachexia and has efficiently accomplished a pharmacokinetic/pharmacodynamic (PK/PD) examine for the drug which met all pre-defined goals. This can be a key scientific milestone supporting its additional scientific growth based mostly on which Actimed is now planning Part 2b/3 research in most cancers cachexia which shall be performed in strategic markets. The funding will assist Actimed’s deliberate scientific growth actions together with the preparation for the Part 2b/3 program for S-pindolol benzoate.

Following the funding, Atish Majumdar, President (Gross sales & Advertising and marketing) of Mankind Pharma joins Actimed Therapeutics as a member of its Board of Administrators.

Atish Majumdar, President (Gross sales & Advertising and marketing) at Mankind Pharma commented “Mankind Pharma is proud to have led this closing tranche of seed financing that may assist the additional development of Actimed Therapeutic’s pipeline. At Mankind, we consider that innovation shall be a key a part of our future progress technique and this primary such abroad funding represents an additional step alongside that pathway. We’ve been impressed by Actimed’s novel pipeline and recognise the numerous potential of S-pindolol benzoate as a brand new therapeutic choice for most cancers cachexia. We very a lot sit up for working with the skilled board and management workforce of Actimed to carry revolutionary new therapies to sufferers with cachexia.”

Robin Bhattacherjee, Chief Government Officer of Actimed Therapeutics commented “We’re thrilled to announce the profitable closing of this financing spherical, which brings our complete seed funding to £10 million. The financing contains assist from each longstanding and new buyers, notably Mankind Pharma, demonstrating confidence in our strategic purpose to develop revolutionary globally authorized remedies for most cancers cachexia and different muscle losing situations. We’re significantly happy by the assist from Mankind and warmly welcome Atish Majumdar to our Board of Administrators. With these funds, we are going to full feasibility actions for the scientific growth program for S-pindolol benzoate.”