Faraday Pharmaceuticals

What Faraday Pharmaceuticals does

Faraday Pharmaceuticals was a Seattle-based, clinical-stage biopharmaceutical company founded in 2014 by Dr. Mark Roth of the Fred Hutchinson Cancer Center. The company operated as a virtual organization with 11–50 employees and developed elemental reducing agents targeting critical care indications, most notably ischemia-reperfusion injury (IRI) in patients suffering ST-segment elevation myocardial infarction (STEMI) who undergo percutaneous coronary intervention (PCI). IRI is estimated to contribute up to 50% of final infarct size and has no approved therapeutic intervention, leaving a defined white space that Faraday sought to address with a single-dose IV bolus administered in the cath lab workflow.

The company's lead asset, FDY-5301, is a sodium iodide formulation that catalytically destroys hydrogen peroxide produced during reperfusion, reduces neutrophil-driven cardiac inflammation, and has been shown in Phase 2 to reduce median infarct size (8.5% vs 14.9% placebo) and improve left-ventricular ejection fraction (63.2% vs 53.9% placebo). The pivotal Phase 3 Iocyte AMI-3 trial enrolled 2,300 anterior STEMI patients across 130+ sites in North America, Europe, and Israel with FDA Special Protocol Assessment alignment. Beyond FDY-5301, the pipeline included FDY-8801 for cancer cachexia and a 2021 in-license of S-oxprenolol from Actimed Therapeutics for cachexia and indications outside ALS. The company raised approximately $140M+ across rounds from ARCH Venture Partners, Polaris Partners, Osage University Partners, Washington Research Foundation, and Alexandria Equities.

Faraday had no commercial products and generated no revenue; its business model was research-and-development-driven, monetized via eventual licensing, partnership, or acquisition of its pipeline assets following regulatory approval. Following the February 2025 failure of the Phase 3 Iocyte AMI-3 trial, the company ceased operations and began winding down its business in accordance with applicable law.

Name

Faraday Pharmaceuticals

Legal name

Faraday Pharmaceuticals, Inc.

Website

https://faradaypharma.com

Company type

Private

Founded year

2014

Operating status

Closed

Headcount range

11–50 employees

Short description

Faraday Pharmaceuticals was a Seattle-based, clinical-stage biopharmaceutical company developing sodium iodide–based therapies (lead asset FDY-5301) to reduce ischemia-reperfusion injury in STEMI heart attack patients; it ceased operations in February 2025 after a Phase 3 trial failure.

Ownership category

akta.pro rank

Product category

Cardioprotective Therapeutics

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE)

akta.pro secondary industry

Cardiology & Vascular Specialty Pharmaceuticals (HLAIACAG)

Keywords

• Ischemia-reperfusion therapy
• Sodium iodide formulation
• Cardioprotective therapeutics
• STEMI treatment
• Elemental reducing agents

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Marketing channels5 records

Core offering

Faraday Pharmaceuticals developed FDY-5301, a sodium iodide (elemental reducing agent) formulation administered as a single IV bolus to reduce ischemia-reperfusion injury (IRI) during primary percutaneous coronary intervention (PCI) for ST-elevation myocardial infarction (STEMI). The company's pipeline also included FDY-8801 for cancer cachexia and a licensed S-oxprenolol program. Faraday operated as a clinical-stage biopharmaceutical company and ceased operations in February 2025 after a Phase 3 trial failure.

Product overview

Faraday Pharmaceuticals was a clinical-stage biopharmaceutical company developing elemental reducing agents for critical care medicine. The company operated as a virtual organization headquartered in Seattle, WA. Its core product portfolio centered on FDY-5301, a sodium iodide formulation targeting ischemia-reperfusion injury in acute myocardial infarction, which was being evaluated in the pivotal Phase 3 Iocyte AMI-3 trial. Additionally, FDY-8801 was in development for cancer cachexia, and the company had licensed S-oxprenolol for cachexia and ALS indications. The company ceased operations in February 2025 following a Phase 3 trial failure.

Differentiator

Problem solved

Functional benefit

Products and services

• FDY-5301 Investigational sodium iodide (elemental reducing agent) formulation administered as a single IV bolus prior to primary PCI to catalytically neutralize hydrogen peroxide and reduce ischemia-reperfusion injury, infarct size, inflammation, and downstream heart failure / cardiovascular death in anterior STEMI patients.
• FDY-8801 Investigational therapeutic candidate in development for cachexia, a muscle-wasting disease associated with cancer and other chronic conditions affecting millions of patients with no FDA-approved treatments available.
• Iocyte AMI Phase 2 Clinical Trial Phase 2 randomized, double-blind, placebo-controlled trial of FDY-5301 in 120 STEMI patients undergoing PCI, demonstrating safety, reduction in cardiac biomarkers, and encouraging efficacy signals including reduced infarct size (median 8.5% at 2 mg/kg vs 14.9% placebo) and preserved ejection fraction (median LVEF 63.2% vs 53.9% placebo).
• Iocyte AMI-3 Phase 3 Clinical Trial Pivotal Phase 3 randomized, double-blind, placebo-controlled trial of FDY-5301 targeting approximately 2,300 anterior STEMI patients across 150 centers globally, with primary endpoint of reduction in cardiovascular death and heart failure events within one year following STEMI, designed with 90% power to detect a 30% reduction in CV death and heart failure.

Quantifiable outcome

• Phase 2 results: Median infarct size 8.5% (2mg/kg FDY-5301) vs 14.9% placebo; Median LVEF 63.2% vs 53.9% placebo
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Actimed TherapeuticsminorOEM/ Whitelabel/ Licensing Partner · 13 April 2021License agreement for S-oxprenolol, an anabolic-catabolic transforming agent (ACTA) for cancer cachexia. Actimed received upfront payment of $550,000 in equity and cash, with potential milestones up to $123.5 million plus royalties. Faraday gained global rights to develop and commercialize S-oxprenolol for cancer cachexia and other indications outside of ALS.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Merck & Co. Diversified biopharma with historical cardiovascular franchise (ZOCOR) and acute-care commercial infrastructure. Comparable as a developer and commercializer of cardiovascular therapeutics and as a prior employer of several members of Faraday's leadership team.
• Bristol-Myers Squibb: Major cardiovascular pharmaceutical incumbent with established STEMI/ACS franchises (e.g., antiplatelets, Eliquis). Comparable as a developer of cardiovascular therapeutics targeting large STEMI populations, though operating at vastly greater scale across many therapy areas.
• AstraZeneca: Global cardiovascular and cardiometabolic pharmaceutical leader (e.g., Brilinta in ACS/STEMI, Farxiga in cardiometabolic). Comparable as a developer of therapies used in the acute and chronic management of STEMI and post-PCI care, though with a much broader portfolio.
• Novartis: Large-cap cardiovascular pharmaceutical company with Entresto (sacubitril/valsartan) and broader heart failure portfolio. Comparable as a developer of cardiovascular therapeutics addressing STEMI-related heart failure, the same downstream endpoint targeted by Faraday's Phase 3 trial.

Emerging players

• Tenaya Therapeutics: Clinical-stage biotech developing gene therapies for heart disease, including therapies aimed at reducing cardiac injury and improving function after ischemic events. Comparable as a small-cap cardiac therapeutics developer pursuing novel mechanisms in cardiovascular indications.
• Lexeo Therapeutics: Clinical-stage gene therapy company targeting cardiovascular diseases including cardiomyopathies and post-MI cardiac injury. Comparable as a small, focused developer of novel therapeutics for underserved cardiac indications.
• Capricor Therapeutics: Clinical-stage biotech developing cell therapy (dermacell) for cardiac indications including Duchenne muscular dystrophy-associated cardiomyopathy. Comparable as a small-cap clinical developer of innovative therapeutics for cardiac and muscle-wasting conditions.
• BioCardia: Clinical-stage cell therapy company developing autologous and allogeneic cell therapies for heart failure and ischemic cardiac injury. Comparable as a developer of adjunctive therapies intended to limit cardiac damage following ischemic events.
• Renovacor (acquired by BMS): Pre-revenue gene therapy company focused on cardiovascular diseases that was acquired by Bristol-Myers Squibb in 2023. Comparable as a small-cap cardiac biotech whose trajectory illustrates both the strategic interest and ultimate consolidation risk in this space.

Direct peers

• Actimed Therapeutics: Clinical-stage pharmaceutical company focused on cachexia, sarcopenia, and muscle-wasting conditions. Direct comparable for Faraday's FDY-8801 cancer cachexia program and the S-oxprenolol program that was in-licensed from Actimed.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/faradaypharma

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds5 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Faraday Pharmaceuticals