ACW XanaMIA trial fully enrolled with 246th participant
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
Final, 246th participant randomized and commenced treatment in Actinogen’s XanaMIA
Alzheimer’s trial – topline results November 2026
Sydney, 18 December 2025. Actinogen Medical ASX: ACW (“ACW” or “the Company”) is pleased to
announce that due to the recent accelerated screening and enrolment in the XanaMIA phase 2b/3 Alzheimer’s
disease (AD) trial, the Company has randomized and commenced treatment of all participants. This means
that topline, final results will be available in November next year.
Key points:
• XanaMIA is a randomized trial of 36 weeks treatment with Xanamem® or placebo in patients with mild-
moderate Alzheimer’s disease followed by an open-label extension phase
• Final and total enrolment is 246 participants (originally targeted 220), accounting for the expected,
modest rate of discontinuations
• Topline, final results are confirmed for November of next year (previously mid Q4) with full analysis
completed in the months following
• Data from the 26 additional participants boosts the statistical power of the trial
• A webinar to discuss this announcement and related information will be held at 11am (Sydney time)
today – details at the end of this announcement.
The robust recent enrolment in the XanaMIA trial validates the attractiveness of Xanamem as an easy-to-use
once-daily oral therapy for AD with a novel mechanism designed to control elevated brain cortisol (aka the
“stress hormone”). The trial was designed using data from the analysis of 34 AD patients from the previous
XanADu phase 2 trial with a diagnosis confirmed by elevated pTau181 levels. This analysis showed a large
Xanamem benefit on the CDR-SB endpoint after just 12 weeks of treatment. Xanamem has also shown
benefits on depressive symptoms in a recent phase 2 trial and in trials of cognition in cognitively normal, older
volunteers.
The XanaMIA trial is a double-blind, 36-week treatment, placebo-controlled, parallel group design trial in
participants with mild to moderate AD and progressive disease, determined by clinical criteria and confirmed
by an elevated level of the pTau181 blood biomarker. Participants receive Xanamem 10 mg or placebo, once
daily, and its ability to slow progression of AD over 36 weeks of treatment 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. All past and present participants
in the trial are eligible to receive active Xanamem 10 mg treatment in the open-label extension phase
commencing in Q1 next year, even if they finished the main part of the trial in 2025.
A formal interim analysis of safety and efficacy futility from the partially completed trial will be conducted by an
independent Data Monitoring Committee (DMC) in late January 2026. The DMC comprises independent
clinical and statistical experts who are not connected to the day-to-day conduct or analysis of the trial. The
committee will review, in a highly confidential process, unblinded data for safety and efficacy futility from all
available participant visits including many who will have completed the 36-week treatment period.
®
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
Topline final safety and efficacy results for the full 36 weeks of treatment from all participants will be available
in November 2026. The final analysis will assess the difference in efficacy and safety between Xanamem and
placebo-treated participants after the “double-blind” code is opened by the trial statisticians.
Actinogen is grateful to the XanaMIA trial staff, participants with Alzheimer’s disease and their caregivers for
their significant contributions and to those who have participated in previous Xanamem trials.
Actinogen CEO and MD, Dr Steven Gourlay commented:
“We are excited to be entering the final stage of the XanaMIA randomized controlled trial with confidence in
our November 2026 timeline for topline final results. As the trial continues, the team will be busy commencing
the open-label extension phase so that all participants can receive active Xanamem treatment for a longer
period.”
“We will be conducting the formal interim analysis of the trial in January, interacting with the European
Medicines Agency on the path to approval in the EU and planning for the upcoming clinical and manufacturing
programs. Xanamem has the potential to be a game-changer for Alzheimer’s patients because of its safety,
ease-of-use and potential efficacy advantages.”
Webinar today
The Company will be holding a live webinar at 11am (Sydney time) today, 18 December 2025 to discuss this
announcement and related information for the Xanamem program. CEO, Dr Steven Gourlay, CMO, Dr Dana
Hilt, and CCO, Mr Andy Udell, will be available to answer questions from attendees.
Pre-register immediately or register and join at 11am (Sydney time) using the link below:
https://investors.actinogen.com.au/webinars/VyEXvP-december-webinar
A copy of the webinar presentation is attached to this announcement. At the conclusion of the presentation,
there will be an opportunity for questions from webinar attendees.
A recording of the webinar will be made available as soon as possible after the conclusion of the event on the
Company’s InvestorHub: https://investors.actinogen.com.au/webinars/VyEXvP-december-webinar
View this announcement on our InvestorHub: https://investors.actinogen.com.au/link/eNm4Jy
ENDS
Investors Media
Dr. Steven Gourlay Michael Roberts George Hazim
CEO & Managing Director Investor Relations 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 Board 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 Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
3
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
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 220 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. The trial is now closed to recruitment, with initial results from an interim analysis
expected in late January 2026 and final topline results 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 will evaluate safety and a limited number of
efficacy endpoints such as the CDR-SB. The trial will commence in Q1 2026 and be 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 approximately 400 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
Actinogen Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
4
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
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.
Oral Xanamem®
Controlling brain cortisol to slow progression in Alzheimer’s disease
and treat depression
Webinar Presentation
Dr Steve Gourlay, CEO; Dr Dana Hilt, CMO; Mr Andy Udell, CCO
18 December 2025
® Xanamem is a registered trademark of Actinogen Medical Limited
2
This presentation 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.
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. 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.
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.
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
Webinar presentation 18 December 2025
3
Online Q&A
Webinar presentation 18 December 2025
1. Open the chat function in
the bottom right corner
2. Type your question into the
text box
3. Click “enter” or the send
button to submit your question
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Management Team
Experience & track record matters
Board of Directors
Dr. Geoff Brooke
Chairman
MBBS; MBA
Dr. Steven Gourlay
CEO & MD
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
Dr. Steven Gourlay
CEO & 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 IR & Comms
B.Ec (Hons), CPA, FFIN
Webinar presentation 18 December 2025
Alzheimer’s disease market is large and growing
5
Growing Alzheimer’s Disease market – U.S.
Large, unsatisfied and growing market
Webinar presentation 18 December 2025
Xanamem’s unique mechanism of action
6
Click here for animation video
Webinar presentation 18 December 2025
Xanamem has a clear path to Alzheimer’s approval
7
• Recent FDA agreement confirms development pathway to US marketing approval using
one additional pivotal trial of 10 mg vs. placebo and open-label safety studies
• Clear guidance on manufacturing, ancillary studies
• Ongoing XanaMIA pivotal clinical trial:
• Full enrolment in US and Australia
• Excellent safety profile maintained, positive first Data Monitoring Committee review
• Interim analysis of safety and efficacy futility in late Jan 2026 using all available data
• On-track for final results in November 2026
• Phase 3 planning commencing in parallel with discussions re potential partnerships
Phase 2b/3 trial on track, FDA agreement streamlines development, EMA meeting 2026
Webinar presentation 18 December 2025
Highlights of Alzheimer’s treatment landscape
Oral Xanamem is leading the charge with a potential game-changing new mechanism
Mechanistic Admin Comments
Older drugs - boosting acetylcholine or
glutamate
Oral Marketed since '90s/'00s, symptomatic only. Gastrointestinal side
effects.
Anti-amyloid protein immunotherapies IV/SubQ Marketed with challenges including variable reimbursement (e.g. not
Aust.). Safety concerns including infusion reactions, brain swelling /
bleeding - MRI monitoring required
Second-gen anti-amyloid with “brain shuttle” IV/SubQ Late-stage trials e.g. Roche’s trontinemab. Likely to be safer than
first-gen due to less binding to vascular wall amyloid
Xanamem (emestedastat) control of
elevated brain cortisol
Oral Mid-first pivotal, phase 2b/3 trial. Promising: n~500, can be
combined with older drugs. Once daily dosing
Blarcamesine SIGMAR1 antagonist to block
autophagy
Oral One phase 2b/3 trial, regulatory approval recently rejected by EMA.
Dizziness, increased rate serious side effects vs. placebo
Anti-amyloid formation or toxicity Oral Most failed phase 2, some on-going trials in patient subgroups.
Anti-tau protein immunotherapy IV/SubQ All trials have failed to date, more on-going
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Webinar presentation 18 December 2025
Why does the company have confidence
in a positive phase 2b/3 trial outcome?
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1. Very strong cortisol scientific rationale in Alzheimer’s
2. Human PET study showing high brain target engagement (n = 40)
3. Large clinical benefit in pTau biomarker-positive Alzheimer’s patients (n = 34)
4. Clinically important activity of Xanamem on depression in phase 2 (n = 165)
5. Evidenced-based trial design & patient selection (n=246)
Webinar presentation 18 December 2025
1. Very strong cortisol scientific rationale in Alzheimer’s
✓ Compelling evidence provided by the Australian Imaging,
Biomarker & Lifestyle Study of Ageing (AIBL) study (2017)1
• Higher plasma cortisol leads to a much greater risk of
developing AD
• Accelerated effect of Αβ+ on decline in global cognition,
episodic memory, and attention
✓ Individuals with the APOE-ε4 allele have higher CSF cortisol2
✓ Multiple other studies support the association between cortisol
and AD development and progression3-6
✓ High cortisol and low folate predict probable Alzheimer’s
disease after age 757
✓ Higher CSF cortisol levels in AD patients are associated with
more rapid clinical worsening and cognitive impairment8,9
10
[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
Webinar presentation 18 December 2025
Other 11β-HSD1 enzyme inhibitors have not achieved adequate brain levels
Xanamem extensively binds
to the 11β-HSD1 enzyme
throughout the brain, with
high post-treatment effects
(absence of color) after
7 days at all doses, slightly
less at a 5 mg dose.
This is consistent with full
hormonal pharmacodynamic
activity seen in clinical trials
with doses as low as 5 mg.
SUVRcarotid
5 mg Xanamem
Baseline After 7 days of daily dosing
10 mg Xanamem 20 mg Xanamem
2. Human PET study shows full target engagement
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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
Webinar presentation 18 December 2025
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3. Large Xanamem benefit in high pTau181 patients
Phase 2a biomarker study: major slowing of CDR-SB decline over 12 weeks (n=34)
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
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
Webinar presentation 18 December 2025
Interim XanaMIA phase 2b/3 results in late Jan 2026, topline final results Nov 2026
13
NIA-AA=National Institute of Aging - Alzheimer’s Association; CDR-SB Clinical Dementia Rating Scale – Sum of Boxes
40 Weeks
-4 0 36 Weeks
10mg Xanamem
Placebo
Screening
Double-blind, randomised treatment period (N = 246)
Follow-up &
open label
Key Inclusion Criteria Primary Endpoint Key Secondary Endpoints Implementation
• Blood pTau biomarker positive
• Mild-moderate Alzheimer’s by
NIA-AA criteria
• CDR-SB (functional and
cognitive measure) @36 weeks
• Cognitive Test Battery
(7 cognitive measures well-
validated in the Alzheimer’s field)
• Amsterdam Activity of Daily Living
(functional measure)
• Full enrolment at 15 Australian &
20 US sites of participants
• Interim analysis late Jan 2026
(efficacy futility & safety on all
available data)
• Final topline results Nov 2026
5. Evidence-based trial design & patient selection
Webinar presentation 18 December 2025
XanaMIA interim analysis and open-label phase detail
Interim analysis late January 2026, open-label phase commences Q1 2026
Interim analysis of safety and efficacy futility
• Independent Data Monitoring Committee made up of experienced clinical and statistics experts
• Conducted in a highly confidential manner so that the company, investigators and trial personnel are kept
“blinded” to patient treatment assignment (active Xanamem vs. placebo)
• Uses data from all available participants and all completed visits at the time
• Outcome will be a binary recommendation to continue (trial not futile) or stop (trial is futile or there is
safety issue)
Open-label phase starting in Q1 2026
• Active Xanamem 10 mg offered to all current and prior XanaMIA phase 2b/3 trial participants
• No placebo control group
• Provides longer term safety data for at least 12 months and observational data on key efficacy endpoints
such as the CDR-SB, cognition and activities of daily living
14
Webinar presentation 18 December 2025
Strategic insights about commercialization
and partnering in AD
15
1. Anti-amyloid infusions have a borderline risk-benefit profile and are expensive
2. Xanamem is being developed with a better risk-benefit and ease-of-use profile
aimed at stabilizing the disease safely
3. Desired Xanamem benefits include multiple aspects of cognition and life
functioning – ideally to halt Alzheimer’s decline completely
4. XanaMIA trial is a catalyst for commercial and partnering interest
Webinar presentation 18 December 2025
-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
16
Worse
performance
Ideal trajectory
with disease
stabilization
Drugs targeting other mechanisms like Xanamem are needed
Unmet need
despite amyloid
therapy
1. Anti-amyloid drugs only modestly slow disease
Ideally patients with AD would not worsen on treatment at all
Webinar presentation 18 December 2025
-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
17
Worse
performance
If results are good, Xanamem could be many times more effective than other drugs
2. Potential for Xanamem to beat existing approved
treatments on CDR-SB primary endpoint
Webinar presentation 18 December 2025
e.g. Xanamem
approaches full
disease
stabilization over
18 months
18
Safety
• Well-tolerated
• No serious adverse events
related to Xanamem in whole
program to date (n ~ 500)1
3. Well-established safety and potential to see
consistent benefit on key secondary efficacy measures
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
https://actinogen.com.au/xanamem
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