ACW senior management presentation at AAIC & internationally
Released
Released
Announcement PDF
Actinogen Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
1
ASX ANNOUNCEMENT
Actinogen senior management presentation to key stakeholders at the Alzheimer’s
Association International Conference and internationally
Sydney, 8 July 2026. Actinogen Medical ASX: ACW (“ACW” or “the Company”) will conduct a series of
key stakeholder meetings over the coming weeks with potential global and regional commercialization partners
in Alzheimer’s disease, key opinion leaders and international biotech experts. Many of these meetings will be
conducted at the Alzheimer’s Association International Conference (AAIC) in London, UK, from July 12-15,
2026.
The presentation focuses on the Company’s strong scientific rationale and prior clinical data supporting the
XanaMIA pivotal trial of Xanamem® (emestedastat) in patients with mild to moderate Alzheimer’s disease.
Topline final results from the trial are expected in November 2026.
A copy of the presentation is attached to this announcement.
View this announcement on our InvestorHub: https://investors.actinogen.com.au/link/eY0kLy
ENDS
Investors Media
Dr Steven Gourlay Michael Roberts George Hazim
CEO & Managing Director Communications Media & Public Affairs Australia
P: +61 2 8964 7401 M: +61 423 866 231 M: +61 417 516 262
E. steven.gourlay@actinogen.com.au E. michael.roberts@actinogen.com.au E: georgehazim@mediaaffairs.com.au
Announcement authorised by the Disclosure Committee of Actinogen Medical Limited
About Actinogen Medical
Actinogen Medical (ACW) is an ASX-listed, biotechnology company developing a novel therapy for neurological and
neuropsychiatric diseases associated with dysregulated brain cortisol. There is a strong association between cortisol and
detrimental changes in the brain, affecting cognitive function, harm to brain cells and long-term cognitive health.
Cognitive function means how a person understands, remembers and thinks clearly. Cognitive functions include memory,
attention, reasoning, awareness and decision-making.
Actinogen is currently developing its lead compound, Xanamem, as a promising new therapy for Alzheimer’s Disease. It
has also conducted a phase 2 trial in patients with cognitive impairment and depression and may study Fragile X Syndrome
and other neurological and psychiatric diseases in the future. Reducing cortisol inside brain cells could have a positive
®
Xanamem is a registered trademark of Actinogen Medical Limited
Actinogen Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
2
impact in these and many other diseases. The cognitive dysfunction, behavioural abnormalities, and neuropsychological
burden associated with these conditions is debilitating for patients, and there is a substantial unmet medical need for new
and improved treatments.
Clinical Trials
The XanaMIA Phase 2b/3 Alzheimer’s disease trial is a double-blind, 36-week treatment, placebo-controlled, parallel
group design trial in 247 patients with mild to moderate AD and progressive disease, determined by clinical criteria and
confirmed by an elevated level of the pTau181 protein biomarker in blood. Patients receive Xanamem 10 mg or placebo,
once daily, and its ability to slow progression of Alzheimer’s disease is assessed with a variety of endpoints. The primary
endpoint of the trial is the internationally-recognized CDR-SB (Clinical Dementia Rating scale – Sum of Boxes). The trial
is being conducted in Australia and the US and is now closed to participant recruitment. It has passed an independent
Data Monitoring Committee safety and efficacy futility review and final topline results are expected in November 2026.
The XanaMIA-OLE Alzheimer’s disease open-label extension is an open-label phase of up to 25 months treatment
where all participants will receive active Xanamem 10 mg once daily. The trial evaluates safety and a limited number of
efficacy endpoints such as the CDR-SB. The trial commenced in March 2026 and is open to all former and current
participants in the XanaMIA Phase 2b/3 trial.
The XanaCIDD Phase 2a depression trial was a double-blind, six-week proof-of-concept, placebo-controlled, parallel
group design trial in 167 patients with moderate, treatment-resistant depression and a degree of baseline cognitive
impairment. Participants were evenly randomized to receive Xanamem 10 mg once daily or placebo, in most cases in
addition to their existing antidepressant therapy, and effects on cognition and depression were assessed. Trial results were
reported in August 2024 and showed clinically and statistically significant benefits on depression symptoms with positive
effects on the MADRS scale (a validated scale of depression symptom measurement) and the PGI-S (a valid patient
reported assessment of depression severity). Cognition improved markedly and to a similar extent in both Xanamem and
placebo groups.
About Xanamem (emestedastat)
Xanamem’s novel mechanism is to control elevated levels of cortisol (aka the “stress hormone”) in the brain through the
inhibition of the cortisol synthesis enzyme, 11β-HSD1, without affecting production of cortisol by the adrenal glands which
is essential for the body’s normal functioning. Xanamem is a first-in-class, once-a-day pill designed to deliver high levels
of cortisol control in key areas of the brain related to Alzheimer’s and other diseases such as the hippocampus and frontal
cortex. To view Xanamem’s two-minute Mechanism of Action animation, click here.
Chronically elevated cortisol is associated with progression in Alzheimer’s Disease and excess cortisol is known to be
toxic to brain cells. Cortisol itself is also associated with depressive symptoms and when targeted via other mechanisms
has shown some promise in prior clinical trials. The recent XanaCIDD trial demonstrated clinically and sometimes
statistically significant benefits on depressive symptoms, further validating the cortisol control mechanism for the
Xanamem 10 mg oral daily dose.
The Company has studied 11β-HSD1 inhibition by Xanamem in more than 500 volunteers and patients in eight clinical
trials. Xanamem has a promising safety profile and has demonstrated clinical activity in patients with depression, patients
with biomarker-positive Alzheimer’s disease and cognitively normal volunteers. High levels of target engagement in the
brain with doses as low as 5 mg daily have been demonstrated in a human PET imaging study.
Xanamem is an investigational product and is not approved for use outside of a clinical trial by the FDA or by any global
regulatory authority. Xanamem® is a trademark of Actinogen Medical.
Disclaimer
This announcement and attachments may contain certain "forward-looking statements" that are not historical facts; are
based on subjective estimates, assumptions and qualifications; and relate to circumstances and events that have not taken
place and may not take place. Such forward looking statements should be considered “at-risk statements” - not to be relied
upon as they are subject to known and unknown risks, uncertainties and other factors (such as significant business,
economic and competitive uncertainties / contingencies and regulatory and clinical development risks, future outcomes
and uncertainties) that may lead to actual results being materially different from any forward looking statement or the
performance expressed or implied by such forward looking statements. You are cautioned not to place undue reliance on
these forward-looking statements that speak only as of the date hereof. Actinogen Medical does not undertake any
obligation to revise such statements to reflect events or any change in circumstances arising after the date hereof, or to
Actinogen Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
3
reflect the occurrence of or non-occurrence of any future events. Past performance is not a reliable indicator of future
performance. Actinogen Medical does not make any guarantee, representation or warranty as to the likelihood of
achievement or reasonableness of any forward-looking statements and there can be no assurance or guarantee that any
forward-looking statements will be realised.
ACTINOGEN MEDICAL ENCOURAGES ALL CURRENT INVESTORS TO GO PAPERLESS BY REGISTERING THEIR DETAILS
WITH THE DESIGNATED REGISTRY SERVICE PROVIDER, AUTOMIC GROUP.
Advancing oral Xanamem® in Alzheimer’s Disease
Fully enrolled phase 2b/3 pivotal trial | Topline data November 2026
Potentially game-changing product profile
Corporate Presentation
July 2026
® Xanamem is a registered trademark of Actinogen Medical Limited
2
This presentation is dated June 2026 and has been prepared by Actinogen Medical Limited. (“Actinogen” or the “Company”) based on information available to it as at the date of this presentation. The information in this presentation is
provided in summary form and does not contain all information necessary to make an investment decision. It should be read in conjunction with the Company’s most recent financial report and other periodic and continuous disclosure
announcements lodged with the Australian Securities Exchange (”ASX”), which are available at www.asx.com.au under the Company’s ticker code (ASX: ACW).
This presentation does NOT constitute a “Prospectus” or a “Disclosure Document” (as defined in the Corporations Act 2001 (Cth)) and has not been, and will not be, lodged with the Australian Securities and Investments Commission or any
other regulatory authority. Accordingly, it is not required to contain, and may not necessarily contain, all of the information that a Prospectus or like Disclosure Document would be required to contain pursuant to the Corporations Act 2001
(Cth). This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in Actinogen, nor does it constitute financial product advice or take into account any
individual’s investment objectives, taxation situation, financial situation or needs. This presentation is not exhaustive of all of the information a potential investor or their professional advisers would require. An investor must not act on the
basis of any matter contained in this presentation but must make its own assessment of Actinogen and conduct its own investigations. Before making an investment decision, investors should consider the appropriateness of the information
having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. Actinogen is not licensed to provide financial product advice in respect of its
securities or any other financial products. Cooling off rights do not apply to the acquisition of Actinogen securities.
Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and that the opinions expressed are fair and reasonable, no representation or warranty, express or implied, is made as to the
fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Actinogen its officers, directors, employees and agents, nor any
other person, accepts any responsibility and liability for the content of this presentation including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of or reliance on any of the information
contained in this presentation or otherwise arising in connection with it.
The information presented in this presentation is subject to change without notice and Actinogen does not have any responsibility or obligation to inform you of any matter arising or coming to their notice, after the date of this presentation,
which may affect any matter referred to in this presentation.
This presentation is not for general distribution or third party reliance or use.
The distribution of this presentation in the United States and elsewhere outside Australia may be restricted by law and you should observe any such restrictions. Any recipient of this presentation who is outside Australia must observe any
such restrictions. This presentation has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States.
The New Shares have not been, and will not be, registered under the US Securities Act of 1933 (the “US Securities Act”) and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the
registration requirements of the US Securities Act and applicable US state securities laws.
This presentation contains certain budget information, forecasts and forward looking statements that are based on the Company’s management’s beliefs, assumptions and expectations and on information currently available to management
in respect of which there is NO guarantee of future performance. Such budget information, forecasts and forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results or
performance of Actinogen to be materially different from the results or performance expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to the performance of Actinogen in its
clinical trials including whether it's technology proves to be a safe and effective treatment, market penetration, competition from any other similar products, intellectual property risks (including securing rights in technology and patents) and
global economic conditions. Furthermore, Actinogen's research, product development, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. There is
no guarantee that Actinogen will obtain the required approvals, licences and registrations from the relevant authorities in jurisdictions in which it operates. Actinogen or others could identify product and efficacy issues relating to the safety of
our technology. Accordingly, all forward looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the political and economic environment in which Actinogen will operate in
the future, which are subject to change without notice. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward
looking statements or other forecast. There is no guarantee that Actinogen will achieve its stated objectives/milestones, that any of its forecasts will be met or that forward looking statements will be realised. You are cautioned not to place
undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date
hereof, or to reflect the occurrence of or non-occurrence of any events.
Neither Actinogen nor any other entity or person in or associated with Actinogen guarantee any return (whether capital or income) or generally the performance of Actinogen or the price at which its securities may trade. Any investment in
Actinogen is subject to investment risks including the possibility of loss of capital invested and no return of income or payment of any dividends.
A number of important factors could cause the Company’s actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward looking statements, including (without limitation) the
risks and uncertainties associated with the ongoing impacts of the Australian and global economic environment and capital market conditions and the risk factors described in the slides titled "Summary of key risks", with many of these
factors are beyond the Company’s control.
To the maximum extent permitted at law, Actinogen and all of its representatives, directors, officers, partners, employees or professional advisers (Parties) exclude all direct and indirect liability arising out of or in connection with any use or
reliance of the information contained or described within this presentation. Other than to the extent required by law (and only to that extent), the Parties do not make any representation or give any assurance, guarantee or warranty (express
or implied) as to, nor assume any responsibility or liability for, the authenticity, origin, validity, accuracy, suitability or completeness of, or any errors in or omissions from, any information, statement or opinion contained in this presentation or
any accompanying, previous or subsequent material or presentation.
Disclaimer
Corporate Presentation July 2026
3
Corporate and Xanamem highlights
Validated mechanism with differentiated oral profile
• Xanamem is a novel oral therapy targeting elevated brain cortisol, a well-
established risk factor for Alzheimer’s disease and depression
• Oral administration and favorable safety profile support broad use
Biomarker-enriched pivotal trial with independent validation
• XanaMIA phase 2b/3 pivotal trial (n=247) fully enrolled; open-label extension commenced;
topline results November 2026
• January 2026 independent Data Monitoring Committee recommended the trial continue
unchanged following unblinded interim review of safety and efficacy futility
Regulatory clarity in the US and EU
• Current pivotal trial expected to form part of registrational package for Alzheimer’s disease
• FDA and EMA guidance support a streamlined marketing approval path requiring only one
additional pivotal trial following positive XanaMIA results
Corporate Presentation July 2026
Potentially game-changing oral therapy for CNS diseases in late-stage trials
Strong capital position
• Company funded into 2027
• Resources focused on execution of the XanaMIA trial and preparation for 2027
NEXT MAJOR VALUE INFLECTION
Pivotal trial topline results
November 2026
3
4
Management Team
Board of Directors
Dr. Geoff Brooke
Chairman
MBBS; MBA
Dr. Steven Gourlay
CEO & Managing Director
MBBS; FRACP; PhD; MBA
Mr. Malcolm McComas
Non-Executive Director
BEc, LLB; FAICD; SF Fin
Dr. George Morstyn
Non-Executive Director
MBBS; PhD; FRACP CD
Dr. Nicki Vasquez
Non-Executive Director
PhD
Dr. Dana Hilt
Chief Medical Officer
MD
Will Souter
Chief Financial Officer
BComm, LLB
Andrew Udell
Chief Commercial Officer
MBA
Cheryl Townsend
VP Clinical Operations
RN, M Health Law
Fujun Li
Head of Manufacturing
PhD
Michael Roberts
Head of Comms
B.Ec (Hons), CPA, FFIN
Experienced leadership
Proven experience in clinical development, manufacturing, regulatory & commercialization
Corporate Presentation July 2026 4
5
Recent milestones
Corporate Presentation July 2026 5
Clear regulatory pathway to approval in US and EU
Regulatory guidance from FDA & EMA supports streamlined late-stage development
Current trial
• XanaMIA pivotal trial (n=247) expected to form key part of registrational package
• Open-label phase has commenced with high uptake from main trial participants
Regulatory engagement
• FDA guidance September 2025, EMA May 2026
• Both aligned on clinical, manufacturing and ancillary studies
Remaining clinical requirements
• One additional single-dose phase 3 trial (10 mg vs placebo) required1
• Open-label safety trials
• Limited number of clinical pharmacology and nonclinical studies
Corporate Presentation July 2026
1. FDA and EMA may accept a single pivotal trial plus adequate supportive evidence for approvals under certain circumstances 6
Positive interim safety, efficacy futility reviews
Independent Data Monitoring Committee chaired by expert Dr Hans Moebius
Recommendation:
• Jan 2026 “non-futile” recommendation to continue the XanaMIA trial without modification
• Jun 2026 positive safety review without futility assessment
Formal interim review process in January:
• The Committee was not authorized to recommend early stopping for efficacy in order to preserve the
trial’s statistical integrity and alpha
• The Committee confidentially reviewed treatment group data on:
✓ Safety data from all enrolled participants (n=247)
✓ Approximately 37% of the expected final dataset across scheduled timepoints including 52
participants with Week 36 (end of treatment) data
Corporate Presentation July 2026
Independent DMC reviews deliver positive continuation decisions, clearing
safety and futility criteria ahead of November 2026 topline results
7
Open-label extension commenced March 2026
Long-term safety and efficacy durability extension to Phase 2b/3
Design
• All participants offered active Xanamem 10mg after completion of double-blind phase
• Initiated March 2026 with high initial enrolment (>80% continuation from main trial)
Data contribution
• ≥14 months additional safety exposure
• Longitudinal assessment of CDR-SB, cognition, and activities of daily living
• Observational comparison of early vs delayed treatment initiation
• Potential to show durability of benefit
Strategic impact
• Expands cumulative safety database
• Supports regulatory engagement
• Informs durability of clinical effect
Corporate Presentation July 2026 8
Positioned to meet a huge unmet
medical need in Alzheimer’s disease
Corporate Presentation July 2026 9
Strong physician interest and demand for Xanamem
Global Alzheimer’s therapeutic market expected to exceed $20B by 2030
Quantitative survey of 91 U.S. neurologists treating Alzheimer’s disease (June 2025)
Respondents each manage ~250 AD patients on average
Corporate Presentation July 2026
Rapid adoption expected
~80% expect to prescribe
within 6 months
• 13% within first month
• 41% within three months
Early uptake anticipated among
high-volume AD prescribers
Significant market share potential
~50% projected peak share
• 43% estimate 31–50% peak share
• 14% estimate >50% peak share
Broad eligibility supports substantial
utilization
Expected role in management
92% anticipate leading / definite role
• 30% expect top-two agent
• 0% indicate no role
Oral profile and safety drive enthusiasm
10
-3
-2.5
-2
-1.5
-1
-0.5
0
0.5
donanemab all placebo all halt progression
Worsening of
CDR-SB
over 18 months
Modest benefit
of donanemab
(Kisunla) over
18 months
Anti-amyloid therapies only modestly slow decline
Disease stabilization represents an important therapeutic aspiration
Worse
performance
Ideal trajectory
with disease
stabilization
Unmet need
despite amyloid
therapy
Corporate Presentation July 2026
Additional therapeutic mechanisms remain an important area of investigation
11
-3
-2.5
-2
-1.5
-1
-0.5
0
0.5
donanemab all placebo all
Potential for greater magnitude of effect on CDR-SB
Xanamem phase 2a p-
tau–positive patients
showed near-
stabilization
Worsening of
CDR-SB
over 18 months
Worse
performance
Modest benefit
of donanemab
(Kisunla) over
18 months1
1. Sims et al. JAMA 2023 336(6):512-527 Corporate Presentation July 2026
Xanamem may stabilize or slow CDR-SB progression more than other therapies
SIMULATED PHASE 2B/3 DATA
12
Summary: commercial and partnering implications
Structural Limitations
of Anti-Amyloid
Infusion burden, ARIA risk,
and cost limit broad
adoption
Differentiated Oral
Profile
Xanamem is positioned with
a favorable risk-benefit and
ease-of-use profile
XanaMIA as a Value
Catalyst
Phase 2b/3 readout is
positioned to accelerate
commercial and strategic
partnering activity
Corporate Presentation July 2026
Potential for Meaningful
Stabilization
Targeting elevated brain
cortisol may enable functional
impact beyond modest
slowing
13
Positioned for clinical success
Corporate Presentation July 2026 14
Watch MOA
animation
Targeting elevated brain cortisol in Alzheimer’s disease
Xanamem selectively inhibits brain 11β-HSD1 while preserving adrenal cortisol function
Elevated brain cortisol is associated with cognitive decline and neurodegeneration
Corporate Presentation July 2026 15
Elevated brain cortisol and Alzheimer’s progression
Human observational and biomarker data support cortisol as a disease driver
• Higher plasma cortisol associated with increased
AD risk (AIBL study)
• Cortisol accelerates cognitive decline and interacts
with Aβ pathology
• APOE-ε4 carriers exhibit higher CSF cortisol levels
• Elevated CSF cortisol correlates with more rapid
clinical worsening
Corporate Presentation July 2026
[1] Pietrzak et al., 2017, Biol Psychiatry: Cognitive Neuroscience and Neuroimagery, [2] Lupien et al., 1998, Nat Neurosci 1:69–73; [3] Geerlings et al., 2015, Neurology 85: 1-8; [4] Lehallier et al., 2016, JAMA
Neurology 73(2), 203-212; [5] Popp et al., 2015, Neurobiol. Aging 36:601–607; [6] Ennis et al., 2017, Neurology 88(4):371-378; 2:45-52; [6] Lupien et al., 2009, Nat Rev Neurosci 10:434–445; [7] Hinterberger et al., J
Am Ger Soc 2013 61(4):648-651; [8] Cernansky et al., 2006, Am J Psychiatry 163:2164-2169; [9] Kornhuber & Jensen, 2015, Neurobiol Aging 36:601-607;
Popp et al, 2015
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
Cognitive Normal MCI Other MCI AD AD dementia
CSF
cortisol
(μg/dl)
p<0.001
MEAN CSF CORTISOL LEVELS
16
Xanamem achieves high brain target occupancy
Human PET imaging confirms brain 11β-HSD1 engagement
SUVRcarotid
5 mg Xanamem
Baseline After 7 days of daily dosing
10 mg Xanamem 20 mg Xanamem
Journal of Alzheimer’s Disease 97 (2024) 1463–1475
Brain 11-Hydroxysteroid Dehydrogenase Type 1 Occupancy by Xanamem Assessed by PET in Alzheimer’s Disease and Cognitively Normal Individuals
Victor L. Villemagne, Vincent Dor, Lee Chong, Michael Kassiou, Rachel Mulligan, Azadeh Feizpour, Jack Taylor, Miriam Roesner, Tamara Miller and Christopher C. Rowe
Corporate Presentation July 2026
Reduction in tracer signal (loss of color) indicates high 11β-HSD1 occupancy -
Strong occupancy observed across evaluated clinical doses
17
CDR-SB slowed in pTau-positive Alzheimer’s
Phase 2a trial showed slowing of decline over 12 weeks (n=34)
Corporate Presentation July 2026
0.36
0.98
0
0.2
0.4
0.6
0.8
1
1.2
1.4
Baseline Week 12
Xanamem Placebo
0.6-point benefit @12 weeks
Xanamem vs. Placebo
• Mean 0.6 units
• Median 0.8 units
• p = 0.09
• Cohen’s d = 0.4
CDR-SB units
Change from
Baseline (SE)
Worse
performance
Journal of Alzheimer’s Disease 100 (2024) 139–150
Plasma pTau181 Predicts Clinical Progression in a Phase 2 Randomized Controlled Trial of the 11-HSD1 Inhibitor Xanamem® for Mild Alzheimer’s Disease
Jack Taylor, Mark Jaros, Christopher Chen, John Harrison and Dana Hilt
18
Durable activity in phase 2 depression trial
10 mg demonstrated separation from placebo overall and on background SSRI therapy
Corporate Presentation July 2026
EOT 2.6-point difference
Cohen’s d = 0.38
p = 0.15
PT 4.2-point difference
Cohen’s d = 0.64
p = 0.03
Abbreviations: SSRI, selective serotonin reuptake inhibitor.
*Planned phase 3 population
MADRS
LS
mean
change
from
baseline
(±
SE)
Xanamem (n=37) Placebo (n=39)
ON TREATMENT AND BACKGROUND SSRI THERAPY (n=76)* FOLLOW
UP
-12
-10
-8
-6
-4
-2
0
Baseline Week 2 Week 4 Week 6 Week 10
19
Better
Performance
Rigorous pivotal trial positioned for success
Fully enrolled (n=247) across U.S. and Australia; topline results November 2026
40 Weeks
-4 0
36 Weeks
10mg Xanamem
Placebo
Screening
Double-blind, randomized treatment period (N = 247)
Follow-up &
open label
Population Primary Endpoint Key Secondary Endpoints Execution
• Blood pTau biomarker positive
• Mild-moderate AD (NIA-AA criteria)
• CDR-SB at 36 weeks (functional
and cognitive measure)
• Cognitive Test Battery
• Amsterdam Activity of Daily Living
• Fully enrolled (n=247)
• Independent DMC interim review
recommended trial continuation
• Open-label ext. commenced
• Topline results November 2026
NIA-AA=National Institute of Aging - Alzheimer’s Association; CDR-SB Clinical Dementia Rating Scale – Sum of Boxes
Corporate Presentation July 2026 20
Well-established safety, industry-standard endpoints
being used in current pivotal trial
1. No serious adverse events related to Xanamem have been reported across all clinical trials to date; various other safety data are reported in peer reviewed publications
(see Actinogen – Xanamem® (emestedastat)/)
Corporate Presentation July 2026
Safety
• Well-tolerated across clinical program
• No serious adverse events related to
Xanamem reported to date (n ~ 500)1
• No ARIA signal observed
Robust XanaMIA endpoints
• CDR-SB at 36 weeks is primary endpoint
• Cognition (validated cognitive measures)
• “Amsterdam” activities of daily living
instrument (functional measures)
21
Summary: positioned for phase 2b/3 success
Clear Biological
Rationale
Elevated brain
cortisol implicated in
cognitive decline and
neuronal injury
Demonstrated
Brain Target
Engagement
High 11β-HSD1
occupancy confirmed
by human PET
imaging
Consistent CNS
Activity Across
Indications
Durable separation
from placebo in
Phase 2 depression
trial
Rigorous, Fully
Enrolled Pivotal
Trial
247 patients; interim
continuation;
November 2026
readout
Corporate Presentation July 2026
Clinical Signal in
Enriched
Alzheimer’s
Population
CDR-SB slowing in
pTau positive patients
over 12 weeks
22
Summary
Corporate Presentation July 2026 23
XanaMIA trial positioned as a game-changer
Operational execution and regulatory alignment ahead of pivotal Alzheimer’s data
Corporate Presentation July 2026
• On-track with XanaMIA pivotal trial in patients with mild-to-moderate AD
✓ Full enrolment of 247 participants achieved
✓ Positive interim analysis Jan 2026 followed by positive June safety review
✓ Topline results expected Nov 2026
✓ Structured as a registrational trial aligned with FDA & EMA guidance
• Executing on streamlined development path for Alzheimer’s disease
✓ Open-label extension XanaMIA trial phase opened in March 2026
✓ N
Share your feedback
Discover