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 Malaysia Sun 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 Malaysia Sun.
More InformationNEW DELHI, India: Google is preparing to open its first physical retail stores outside the U.S., with locations in India likely to...
BANGKOK, Thailand: Vietnam's government has introduced new social media regulations that significantly tighten its control over online...
Islamabad [Pakistan] February 25 (ANI): Lawyers and Journalists in Pakistan have called on their federal government to repeal the recently...
Dubai [UAE], February 25 (ANI): After India's clash against Pakistan at the Dubai International Cricket Stadium, legendary Pakistani...
Bhopal (Madhya Pradesh) [India], February 25 (ANI): The Madhya Pradesh Tourism Department is gearing up for a significant investment...
Guwahati (Assam) [India], February 25 (ANI): Prime Minister Narendra Modi is set to inaugurate the highly anticipated Advantage Assam...
TOKYO, Japan: The Bank of Japan is expected to raise interest rates at least once more this year, likely in the third quarter, bringing...
NEW YORK, New York - U.S. stock markets closed lower on Monday, with the major indexes showing mixed performances as investors digested...
BLAGNAC, France: Airbus has set a target of delivering around 820 commercial jets in 2025, marking a seven percent increase from the...
NEW DELHI, India: Google is preparing to open its first physical retail stores outside the U.S., with locations in India likely to...
WASHINGTON, D.C.: One in five Americans say they are buying more than usual because they are worried about President Donald Trump's...
NEWPORT BEACH, California: Chipotle Mexican Grill is ramping up hiring efforts ahead of its busiest time of the year, known as burrito...