Country for PR: United Kingdom
Contributor: PR Newswire Europe
Monday, November 14 2022 - 18:00
TauRx Announces Additional Investment of USD119 million following announcement of Phase 3 LUCIDITY Topline Results
ABERDEEN, Scotland and SINGAPORE, Nov. 14, 2022 /PRNewswire-AsiaNet/ --

- Substantial investment of USD119 million achieved by TauRx through a warrants 
exercise triggered by the announcement of LUCIDITY results in October, 
supporting HMTM regulatory submissions in UK, US and Canada, and preparation 
for market availability
- Shareholder commitment to TauRx represents a significant success story for 
UK-based life sciences research and development in areas of great unmet medical 
- TauRx will present the Phase 3 findings at the Clinical Trials in Alzheimer's 
Disease (CTAD) conference on Wednesday, 30th November 2022, in San Francisco

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 

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 Investival 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.

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. 

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. 


Source: TauRx Pharmaceuticals Ltd