The Genting-backed neurodegenerative disease treatment developer has disclosed it raised $71m through a rights issue in October.
TauRx Pharmaceuticals, a Singapore-based Alzheimer’s disease treatment developer backed by conglomerate Genting, has revealed it secured $71m through a rights issue in October 2017, Bloomberg has reported.
Spun out from University of Aberdeen in 2002, TauRx is developing therapies to treat neurodegenerative diseases and is initially focusing its efforts on Alzheimer’s disease.
The company’s lead drug candidate, LMTX, failed to deliver positive results in 2016 when studies showed it did not slow disease progression in patients also taking other medication.
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