Mankind Pharma invests in Actimed Therapeutics for cancer cachexia treatment
Following the investment, Atish Majumdar, President (Sales & Marketing) of Mankind Pharma joins Actimed Therapeutics as a member of its Board of Directors.
New Delhi: Mankind Pharma Ltd has announced that the company has invested in a clinical-stage specialty pharmaceutical company, Actimed Therapeutics Ltd, UK.
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/
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.”
Read also: Mankind Pharma buys majority stake in Upakarma Ayurveda
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.