Actinogen presents Alzheimer’s trial data and more at world’s biggest biotech event
Health & Biotech
Health & Biotech
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Special Report: Alzheimer’s pioneer Actinogen this week presented successful progress with its ground-breaking clinical trial at the world’s biggest biotech convention.
Actinogen CEO Dr Bill Ketelbey led the Actinogen team to showcase the company at the BIO International Convention 2018 in Boston.
Dr Ketelbey outlined recent excellent progress with Actinogen’s XanADu study assessing Xanamem as an innovative treatment for Alzheimer’s disease.
He also discussed broader developments plans for Xanamem, including a number of additional studies that can be initiated following a very successful placement of $15 million with three leading institutional investors in the past two weeks – BVF, Platinum and Australian Ethical.
BIO International is a key networking opportunity with 16,500 delegates from 1300 biotech companies including all the major multinational pharmaceutical companies.
Actinogen (ASX:ACW) received good news — following an interim analysis a fortnight ago — that its Phase II XanADu study got the all-clear from the Data Safety and Monitoring Board to continue XanADu without modification.
The XanADu study now has 103 of its 174 patients enrolled — with the last patient expected to be enrolled before the end of the year.
$15 million cash injection
It’s the latest in a string of good news coming out of Actinogen, which recently raised $15 million from a leading US biotech investor BVF, and two Australian institutional investors – Platimum and Australian Ethical, to further develop Xanamem.
Cornerstoneing this investment was US specialist biotech investor Biotechnology Value Fund (BVF) with a $10.5M placement. A Share Purchase Plan has also been launched to raise up to a further $2m.
Dr Ketelbey said the company had been buoyed by its recent news and was looking forward to the BIO International conference.
“Participation at BIO International provides Actinogen unparalleled networking opportunities to showcase the quality research that supports Xanamem’s development,” he said.
“We’ve been delighted by the company’s recent news, including welcoming BVF as a major institutional investor in Actinogen and the recommendation from the DSMB to continue our study without modification.
“It all helps us build our confidence and optimism in the potential of Xanamem to be an effective treatment for Alzheimer’s disease and we look forward to talking with everyone at BIO International this week.”
This special report is brought to you by Actinogen Medical.
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