Actimed Therapeutics and Faraday Pharmaceuticals Announce License Agreement for S-oxprenolol

- Faraday to make upfront payment and equity investment in Actimed

- Actimed is eligible to receive up to $123.5 million in milestone payments plus royalties on future sales

- Upfront cash and equity payments received will further support the ongoing development plans of Actimed for ACM-001 (S-pindolol) in cancer cachexia and S-oxprenolol in amyotrophic lateral sclerosis (ALS)

- S-oxprenolol adds an important second compound to the Faraday portfolio in addition to FDY-5301

LONDON and SEATTLE, April 13, 2021 /PRNewswire/ -- Actimed Therapeutics Ltd., a clinical stage company focused on bringing innovation to the treatment of muscle wasting disorders, with a focus on cachexia, today announced a license agreement for S-oxprenolol to Faraday Pharmaceuticals, Inc., a biopharmaceutical company focused on improving outcomes of critical illnesses by reducing the loss of cardiac and skeletal muscle function. S-oxprenolol is one of a new class of anabolic-catabolic transforming agents (ACTAs) under development by Actimed. Using a similar mode of action as ACM-001 (S-pindolol), the lead asset of Actimed, S-oxprenolol exhibits a multi-modal pharmacology that specifically targets the underlying pathophysiology of cachexia, and has demonstrated significant beneficial effects on survival, body mass and functional parameters in pre-clinical models of cancer cachexia.

Under the terms of the agreement, Actimed will receive an upfront payment of $550,000 in equity investment and cash and is also eligible to receive a near-term milestone payment of $2.7m and up to $123.5m in total potential milestone payments. Actimed is also eligible to receive royalties on any future sales of S-oxprenolol. Faraday gains global rights to develop and commercialize S-oxprenolol for cancer cachexia and any other indications outside of amyotrophic lateral sclerosis (ALS). Actimed retains global rights to S-oxprenolol in ALS, where loss of body mass and muscle wasting can impact survival.

Robin Bhattacherjee, Actimed CEO, commented: "I am delighted with our agreement with Faraday for S-oxprenolol which is an important and mutually beneficial agreement for both companies. As well as providing a strong partner to continue the development of S-oxprenolol, this deal enhances our ability to speed up and further advance the development of our lead candidate ACM-001 (S-pindolol) towards Phase 2 clinical studies for cancer cachexia in patients with non-small cell lung cancer and colorectal cancer. We are also pleased to retain rights to S-oxprenolol for ALS, an indication where patients suffer similar life-threatening muscle-wasting effects."

Steve Hill, Faraday CEO, added: "We are pleased to partner with Actimed on S-oxprenolol as we are committed to developing and advancing therapies that will prevent and treat cardiac and skeletal muscle loss associated with multiple morbidities. S-oxprenolol is highly complementary to our existing portfolio and will further strengthen our product pipeline."

About S-oxprenolol

S-oxprenolol is one of a new class of anabolic-catabolic transforming agents (ACTAs) under development by Actimed. With a similar mode of action to ACM-001 (S-pindolol), S-oxprenolol exhibits a multi-modal pharmacology that specifically targets the underlying pathophysiology of cachexia. S-oxprenolol has been shown to exert significant beneficial effects on survival, body mass and functional parameters in pre-clinical models of cancer cachexia.

Actimed was recently awarded a new US patent covering rights to S-oxprenolol for the treatment of cancer cachexia, broadening and strengthening the global patent estate around this molecule.

About Cancer Cachexia

Cachexia is a wasting disease that accompanies cancer and other serious chronic illnesses and is associated with significant morbidity and mortality. Despite its prevalence and devastating clinical effects, there is no approved drug for the treatment or prevention of cancer-related cachexia.

It has been estimated that cachexia affects 50–80% of cancer patients and accounts for up to 20% of cancer deaths. Treating cancer cachexia successfully may increase both the length and quality of life for cancer patients.

About Actimed Therapeutics

Actimed Therapeutics is a UK clinical stage biopharmaceutical 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 world leading physicians in muscle wasting research.

The lead product of Actimed, ACM-001 (S-pindolol), specifically targets multiple biological pathways that drive cachexia and has generated promising proof of concept data in a Phase II clinical trial in patients with non-small cell lung cancer (NSCLC) and colorectal cancer (CRC). Actimed is currently preparing for further clinical studies of cachexia in these two cancer types. For more information visit www.actimedtherapeutics.com

About Faraday Pharmaceuticals

Faraday Pharmaceuticals is a biopharmaceutical company focused on improving outcomes of critical care illnesses by reducing the loss of cardiac and skeletal muscle function. The company is headquartered in Seattle, WA. For more information, visit www.faradaypharma.com.

FOR MORE INFORMATION
Actimed Therapeutics
Frazer Hall, Nathaniel Dahan, David Dible
Citigate Dewe Rogerson
Tel: +44 (0)20 7638 9571
Email: actimed@citigatedewerogerson.com

Faraday Pharmaceuticals
Xuan Yang
Solebury Trout
xyang@soleburytrout.com 
(415) 971-9412