TauRx Pharmaceuticals Ltd, a clinical-stage biopharmaceutical company developing a novel treatment for Alzheimer’s disease, completed the final tranche of a US$135m equity financing that it launched in March.
The investment has been provided through a combination of new investors and existing shareholders.
The company will use the funds to support Phase 3 clinical trials program for LMTX.
Led by Professor Claude Wischik, co-founder and Executive Chairman, TauRx is a spin-out company from the University of Aberdeen, Scotland, created in Singapore in 2002 with the aim of developing new treatments and diagnostics for a range of neurodegenerative diseases.
The company’s tau aggregation inhibitor, LMTX®, is currently in global Phase 3 clinical trials for Alzheimer’s and Frontotemporal Dementia (FTD). LMTX® targets aggregates of abnormal fibres of tau protein that form inside nerve cells in the brain, giving rise to ‘tau tangles’.
TauRx’s headquarters are in Singapore and its primary research facilities are based in Aberdeen.