TauRx Announces Additional Investment of USD119 million following announcement of Phase 3 LUCIDITY Topline Results
- 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 need
- 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
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.
Announcement of Additional Investment
Aberdeen, Scotland and Singapore [14 November 2022] – TauRx Pharmaceuticals Ltd is a global leader in tau-based research in treatments for Alzheimer’s disease (AD)