TauRx completes $135 million financing to aid Phase III trials for key products

8 October 2015

Singapore-based TauRx Pharmaceuticals on Thursday said it has completed the final tranche of a $135 million equity financing launched in March to aid late-stage trials for its drugs to treat Alzheimer's and frontotemporal dementia.

The clinical stage pharma company, which is a spin-out for Scotland’s University of Aberdeen, is currently in trails for its lead product Lmtx, a drug candidate to treat Alzheimer's disease.

Professor Claude Wischik, co-founder and executive chairman of TauRx, said: "The additional investment has been provided through a combination of new investors and existing shareholders and will support our Phase III clinical trials program. This new investment was raised at successively higher share prices during the course of 2015, reflecting the confidence investors have in our tau aggregation inhibition technology and in the promise of our lead product, Lmtx."

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