Actimed regains full rights to S-oxprenolol, ends $126 million Faraday licensing deal

Actimed Therapeutics announced it has reclaimed all worldwide rights to its experimental wasting disease drug S-oxprenolol, terminating the licensing agreement it had with Faraday Pharmaceuticals.

The original 2021 deal gave Faraday an upfront payment of $550,000 and the possibility of up to $126.2 million in milestone payments, allowing Faraday to develop the drug for cancer cachexia and other indications outside ALS.

Actimed said the move restores its ability to control development, manufacturing and commercialization of S-oxprenolol across all potential indications, including ALS where preclinical data suggest benefits for survival, body mass and function.

While the company forfeits the chance to receive the milestone payments, it believes retaining strategic control will maximize the asset’s long-term value.