TauRx Pharmaceuticals receives $111.8m commitment from Genting to prepare for Market Leadership in Alzheimer's

TauRx Pharmaceuticals receives $111.8m commitment from Genting to prepare for 
Market Leadership in Alzheimer's 
SINGAPORE and KUALA LUMPUR, Malaysia, Nov. 20, 2012 /CNW/ - TauRx 
Pharmaceuticals Ltd. ("TauRx") announced today the receipt of a further equity 
investment of US$31.5m from Genting Management (Singapore) Pte. Ltd. ("GMS"), 
a wholly owned subsidiary of Genting Berhad. The amount represents the first 
tranche of a total investment of US$111.8m by GMS in TauRx in exchange for a 
20% equity stake in the pioneering pharmaceutical company. The completion of 
the remaining US$80.3m investment by GMS is expected before the year end.  
TauRx also announced today the appointment to its Board of Directors of Tan 
Sri Lim Kok Thay, Chairman & Chief Executive Officer of Genting Berhad and Mr 
Tan Kong Han, President & Chief Operating Officer of Genting Berhad. 
Professor Claude Wischik, Executive Chairman and Co-Founder of TauRx, said: 
"This investment by GMS affirms Genting's confidence in TauRx and will be 
directed to the conduct of our pivotal global Phase 3 clinical trials in mild 
to moderate Alzheimer's disease with LMTX™, TauRx's Tau Aggregation 
Inhibitor (TAI)."  The drug is the first TAI to be tested in late stage 
clinical trials. The Phase 2 trial in over 300 patients with an earlier 
version of the drug showed a 90% reduction in the rate of disease progression 
over two years, a result also supported by functional brain imaging. 
According to Professor Wischik, "These Phase 3 studies, which have already 
started enrolling in the US, are aimed at confirming the disease-modifying 
effects seen in the Phase 2 trial in mild to moderate patients." The first 
study in the Phase 3 program will involve 833 people with mild to moderate 
Alzheimer's disease over 12 months, while the second study will include 500 
people with mild Alzheimer's disease over 18 months.  A third smaller study 
will aim to confirm treatment benefit in FrontoTemporal Dementia in 180 
subjects over 12 months. The clinical trials will be conducted in parallel and 
on a global basis including sites in Australia, Belgium, Canada, Finland, 
France, Germany, Italy, Russia, Spain, Netherlands, Singapore, Malaysia, 
Taiwan, US and UK. Professor Wischik points out:  "These landmark studies 
could provide the first definitive data on a Tau-based approach to 
disease-modifying and preventive treatment of Alzheimer's and FTD, with no 
Tau-based alternatives generating such data for at least the next 5-7 years." 
As for the new investment by GMS, Professor Wischik adds: "This is the most 
significant fund-raising event in TauRx's history; it brings the total equity 
raised by the group to almost US$300m since the initial company was formed in 
2002."  Prof Wischik also points out that the Genting relationship brings 
substantial operational support to TauRx's global clinical development 
program. As part of the share subscription by GMS, which will see GMS becoming 
the largest shareholder of TauRx, TauRx and GMS will form a joint venture 
which will leverage on the Genting Group's network and presence in Asia and 
which will focus on redefining healthcare delivery for Alzheimer's and early 
cognitive impairment in Asia.  Professor Wischik elaborates: "The joint 
venture's business model would redefine healthcare delivery for one of the 
most costly medical conditions of our time – Alzheimer's Disease, as it 
integrates each step in the continuum of healthcare delivery from the 
development of clinics specializing in early detection, through the management 
of cognitive impairment with innovative diagnostic tools to the early 
intervention with LMTX™".  LMTX™ is a second-generation TAI that targets 
the Tau tangles and their precursors, dissolving them in order to halt harmful 
effects on memory. The joint venture would have the potential to create a 
clinic-based assessment and treatment capability that does not impact on 
TauRx's ability to offer distribution and marketing rights to conventional 
pharmaceutical partners active in Asia. "Such an innovative and practical 
approach to partnering and to addressing a major societal concern is typical 
of the fresh commercial thinking to be found within South East Asia," says 
Professor Wischik. 
About TauRx Therapeutics:  TauRx Therapeutics Ltd was established in Singapore 
in 2002 with the aim of developing new treatments and diagnostics for a range 
of neurodegenerative diseases based on an entirely new approach which targets 
aggregates of abnormal fibres of Tau protein that form inside nerve cells in 
the brain. The TauRx team have since discovered that LMTX™ could also have 
beneficial effects in several other neurodegenerative diseases associated with 
Tau pathology, as well as other protein aggregation disorders including 
Parkinson's, Huntington's and Frontotemporal Dementia (Pick's Disease). While 
TauRx headquarters are in Singapore, its primary research facilities are in 
Aberdeen, Scotland. 
About Genting Berhad: Genting Berhad, its subsidiaries and affiliates operate 
under the "Genting" name. It is recognised as one of Asia's leading and best 
managed multinationals. There are 5 public companies listed in 3 jurisdictions 
operating under the "Genting" name, namely Genting Berhad, its subsidiaries 
Genting Malaysia Berhad, Genting Plantations Berhad and Genting Singapore PLC 
as well as its affiliate, Genting Hong Kong Limited, with a combined market 
capitalisation of about US$35 billion as at 9 November 2012. Collectively, 
they have over 52,000 employees, 4,500 hectares of prime resort land and about 
166,000 hectares of plantation land. 
In healthcare, Genting Berhad has invested in Synthetic Genomics Vaccines, 
Inc, a company founded by Synthetic Genomics, Inc. and the J.Craig Venter 
Institute to develop next generation human vaccines using genomic sequencing 
and synthetic genomic technologies. Synthetic Genomics, Inc is a company 
founded by world-renowned scientists, J. Craig Venter, Ph.D. and Nobel 
Prize-winner Hamilton O. Smith, M.D.  Genting Berhad is also a major 
shareholder of  London based DNA Electronics Limited ("DNAe") which  owns 
rights to patents and know-how in the design and fabrication of a point of 
care handheld device for real-time detection of any target nucleic acid (DNA 
and RNA) sequence. 
TauRx: U.S. media contacts: Liz Moench + 1-610-659-5093, or Outside the U.S. 
media contacts: Sylvie Berrebi, +44 (0)7795 197271 /+44 (0)7973 950376, or 
Elizabeth Puller, +44 (0)208 834 1447, or press@taurx.com; or Genting Berhad: 
Woon Yoke Sun +603 2333 3026, yokesun.woon@genting.com, or Chuah Jia Wen + 603 
2333 3046, jiawen.chuah@genting.com 
SOURCE: TauRx Pharmaceuticals Ltd. 
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-0- Nov/20/2012 14:01 GMT
 
 
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