Mankind Pharma yesterday invested in a UK-based clinical stage specialty pharma company, Actimed Therapeutics, that is focussed on bringing innovation to the treatment of cancer cachexia, an unmet medical need for cancer patients, and other muscle-wasting disorders, the companies said in a joint statement.
The statement also mentioned that 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 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-IIb/III 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-IIb/III programme for S-pindolol benzoate.
Following the investment, Atish Majumdar, President, Sales and Marketing, Mankind Pharma, joined Actimed Therapeutics as a member of its Board of Directors.
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