PR Newswire
14 Nov 2022, 12:30 GMT+10
ABERDEEN, Scotland and SINGAPORE, Nov. 14, 2022 /PRNewswire/ -- TauRx Pharmaceuticals Ltd is a global leader in tau-based research in Alzheimer's disease (AD). Pathological aggregation of Tau correlates with clinical disease severity and brain atrophy. It is a hallmark of the disease recognised as an important potential target for treating AD. HMTM is an oral tau aggregation inhibitor, targeting this underlying pathology.
Glenn Corr, Chief Operating Officer and Chief Business Officer said: "We appreciate the continued support of our shareholders as evidenced by their exercise of warrants. This represents a firm commitment to our mission - 'To discover, develop, and commercialise innovative products for the diagnosis and treatment of neurodegenerative diseases caused by protein aggregation'. Beyond funding regulatory submissions in the UK, US and Canada, this investment will also advance development plans for regulatory approval in China."
The positive outcome of this funding round, with more than 99% of warrants exercised, was triggered by the announcement of Phase 3 LUCIDITY (NCT03446001) topline data and adds to USD64 million raised in 2021 through a previous rights issue.
TauRx, supported by its group of strategic advisors, are moving forward in the regulatory submission process. This represents a monumental success for UK-based life sciences research and has potential to deliver a much-needed additional treatment option for the millions of people with Alzheimer's.
On Monday, 14 November, TauRx will present at the LSX Inv$tival conference in London and attend the Jefferies Healthcare conference later in the week. Results from the LUCIDITY trial will be presented at the Clinical Trials on Alzheimer's Disease (CTAD) conference in San Francisco on 30 November.
ABOUT LUCIDITY
LUCIDITY is the only late-stage clinical trial specifically targeting the tau pathology of Alzheimer's. Aggregation of abnormal tau protein is one of the hallmark pathologies.
https://www.luciditytrial.com
ABOUT TAURx PHARMACEUTICALS LTD
The TauRx group of companies was established in 2002 in Singapore, continuing a partnership with the University of Aberdeen, with primary research facilities and operation based in Aberdeen, UK. The company has dedicated the past two decades to developing treatments and diagnostics for Alzheimer's and other neurodegenerative diseases due to protein aggregation pathology.
TauRx plans to submit HMTM for regulatory approval in the UK, US and Canada in 2023, with other territories to follow, in line with its overall plans to commercialise HMTM and pursue clinical trials in other related neurodegenerative diseases.
https://www.taurx.com
LinkedIn: https://www.linkedin.com/company/taurx-therapeutics
Youtube: https://www.youtube.com/user/TauRxTherapeutics
Twitter: https://twitter.com/TauRx
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationEVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...