TauRx, The Genting-backed Singaporean pharmaceutical startup TauRx talks $2.5b valuation
It's quite a bold claim from a company who don't yet have any drugs on the market.
There is no doubt that TauRx, the Singapore-based pharmaceutical company, is in for a fight with their latest round of drugs. With Alzheimer's being one of the hottest topics in the pharma world at the moment, competition to produce, sell and win at the cure is at an all-time high with some of the world's largest pharmaceutical players, including Pfizer Inc. and Axovant Sciences Ltd all trying and failing to win in this market.
But that certainly isn't stopping TauRx, as they have recently announced that they believe their company value to sit at around $2.5 billion, as they prepare themselves for their latest trial, funded by shareholders including Genting Bhd. If this trial proves successful, TauRx have also announced that they will plan to apply to European and U.S regulators for approval of theAlzheimer's drug, even though it is estimated that they will need around $150 million to take it to the phase III trial, which it will need to pass such regulation.
This would be the latest round of funding for the brand with them raising more than $500 million since 2002, of which $71 million was spent on a rights issue last October to fund this current trial.
Speaking of this latest news, TauRx Deputy Chairman Tay Siew Choon said: “We have consistently seen that our theory works, and there’s no reason to give it up. Shareholders’ support and faith in us has not weakened.”