Dundee Corporation Portfolio Holding, TauRx Pharmaceuticals Ltd., Announces Phase 3 Study Results, LUCIDITY, and Proceeds with Regulatory Submissions
TORONTO, Oct. 06, 2022 (GLOBE NEWSWIRE) — Dundee Society (TSX: DC.A) (the “Company” or “Dundee”) today announces that TauRx Pharmaceuticals Ltd. (“TauRx”), a leader in tau-based research in Alzheimer’s disease, has released results from its Phase 3 Alzheimer’s disease (“AD”) study, LUCIDITY. For a copy of the official TauRx announcement, please visit:
https://taurx.com/news-insights/taurx-announces-results-from-phase-3-alzheimers-disease-study-lucidity-assuring-path-for-regulatory-submissions
TauRx Announcement Highlights:
-
For people with early-onset Alzheimer’s disease (MCI), HMTM treatment resulted in sustained improvement in cognition over pre-treatment baseline and normalization of brain atrophy at a rate similar to that healthy individuals;
-
For people with mild to moderate Alzheimer’s disease, HMTM stabilized cognition and function and reduced the rate of brain atrophy compared to historically matched people with Alzheimer’s disease;
-
HMTM is an oral drug with a strong safety profile, presenting no risk of amyloid-related imaging abnormalities;
-
TauRx will present Phase 3 results at the Clinical Trials in Alzheimer’s Disease (CTAD) conference on Wednesday, November 30, 2022 in San Francisco.
TauRx also announces the appointment of Dr. Richard Stefanacci as the company’s new medical director. Alongside appointed strategic regulatory advisors in the UK, US and Canada, Dr. Stefanacci will participate in regulatory submissions.
Jonathan Goodman, President and CEO of Dundee Corporation, said: “Alzheimer’s disease is a terrible disease that affects far too many people around the world, including my own family. I am personally very encouraged by this news, because from our point of view, it gives a lot of hope that we can finally turn the tide in our fight against this disease. We understand that TauRx must overcome additional hurdles to obtain the necessary regulatory approvals to bring its drug to market. It has the potential to have a significant positive impact on both the value of TauRx and Dundee Corporation. We are extremely pleased that LUCIDITY has demonstrated efficacy for people with mild to moderate Alzheimer’s disease while maintaining a strong safety profile. We are further encouraged that HMTM is administered orally without the need for costly monitoring, providing advantages over more expensive and less safe and effective approved alternatives available to patients today. This is a very exciting time for TauRx and for Dundee Corporation, as we believe this is an important milestone that will pave the way for eventual commercial success.
Dundee owns 1,015,008 shares of TauRx, representing a 3.5% undiluted stake in the company (3.2% fully diluted, with warrants exercisable over a four-week period following the release of the main results ). Dundee Corporation has determined the fair value of its investment in TauRx, as of June 30, 2022, to be $36.2 million.
ABOUT DUNDEE CORPORATION:
Dundee Corporation is an independent Canadian holding company listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is an active investor focused on creating long-term sustainable value as a trusted partner in the mining industry with over 30 years of experience in accretive mining investments.
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects Dundee Corporation’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the control of Dundee Corporation, which could cause actual results and events to differ materially from those disclosed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in Dundee Corporation’s Annual Information Form and subsequent filings with securities commissions in Canada. Dundee Corporation undertakes no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations and Media
Such. : (416) 864-3584
Email: ir@dundeecorporation.com
