The neurodegenerative disease treatment spinout from University of Aberdeen has disclosed it raised $71m through a rights issue in October.
TauRx Pharmaceuticals, a Singapore-based Alzheimer’s disease treatment developer spun out from University of Aberdeen, has revealed it secured $71m through a rights issue in October 2017, Bloomberg has reported.
Founded in 2002, TauRx is developing therapies to treat neurodegenerative diseases and is initially focusing its efforts on Alzheimer’s disease.
TauRx is based on research by co-founder Claude Wischik, professor of old age psychiatry at Aberdeen, who now acts as chairman and chief executive.
The company’s lead drug candidate, LMTX, failed…
