- Substantial funding of USD119 million achieved by TauRx via a warrants train triggered by the announcement of LUCIDITY leads to October, supporting HMTM regulatory submissions in UK, US and Canada, and preparation for market availability
- Shareholder dedication to TauRx represents a big success story for UK-based life sciences analysis and growth in areas of nice unmet medical want
- TauRx will current the Phase 3 findings on the Clinical Trials in Alzheimer’s Disease (CTAD) convention on Wednesday, thirtieth November 2022, in San Francisco
ABERDEEN, Scotland and SINGAPORE, Nov. 14, 2022 /PRNewswire/ — TauRx Pharmaceuticals Ltd is a worldwide chief in tau-based analysis in Alzheimer’s illness (AD). Pathological aggregation of Tau correlates with medical illness severity and mind atrophy. It is a trademark of the illness recognised as an vital potential goal for treating AD. HMTM is an oral tau aggregation inhibitor, focusing on this underlying pathology.
Glenn Corr, Chief Operating Officer and Chief Business Officer stated: “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 optimistic end result of this funding spherical, with greater than 99% of warrants exercised, was triggered by the announcement of Phase 3 LUCIDITY (NCT03446001) topline knowledge and provides to USD64 million raised in 2021 via a earlier rights problem.
TauRx, supported by its group of strategic advisors, are transferring ahead within the regulatory submission course of. This represents a monumental success for UK-based life sciences analysis and has potential to ship a much-needed further therapy choice for the thousands and thousands of folks with Alzheimer’s.
On Monday, 14 November, TauRx will current on the LSX Inv€$tival convention in London and attend the Jefferies Healthcare convention later within the week. Results from the LUCIDITY trial will probably be introduced on the Clinical Trials on Alzheimer’s Disease (CTAD) convention in San Francisco on 30 November.
ABOUT LUCIDITY
LUCIDITY is the one late-stage medical trial particularly focusing on the tau pathology of Alzheimer’s. Aggregation of irregular tau protein is one of the hallmark pathologies.
https://www.luciditytrial.com
ABOUT TAURx PHARMACEUTICALS LTD
The TauRx group of corporations was established in 2002 in Singapore, persevering with a partnership with the University of Aberdeen, with major analysis amenities and operation primarily based in Aberdeen, UK. The firm has devoted the previous twenty years to growing therapies and diagnostics for Alzheimer’s and different neurodegenerative illnesses on account of protein aggregation pathology.
TauRx plans to submit HMTM for regulatory approval within the UK, US and Canada in 2023, with different territories to observe, in keeping with its general plans to commercialise HMTM and pursue medical trials in different associated neurodegenerative illnesses.
https://www.taurx.com
LinkedIn: https://www.linkedin.com/company/taurx-therapeutics
Youtube: https://www.youtube.com/user/TauRxTherapeutics
Twitter: https://twitter.com/TauRx
View authentic content material:(*3*)
