01 June 2022

Why Genting Berhad’s associate --- TauRx Pharmaceuticals Ltd --- looks so Promising?

While the company was incorporated in 1968 and listed in 1971, the Genting Group was founded in 1965 when its founder, the late Tan Sri Lim Goh Tong started the journey to realise his vision of building a mountaintop resort in Malaysia.

Since then, the group is involved in leisure and hospitality, oil palm plantations, power generation, oil and gas, and property development.

A new breath of life is coming...

Let's welcome to the new era led by his son Tan Sri Lim Kok Thay, who steers the group forays into new industries such as life sciences and biotechnology. And, the new ventures are beginning to yield positive results now.

New drug to treat Alzheimer’s ???

Genting Berhad today announced that its associate, TauRx Pharmaceuticals Ltd. (“TauRx”), a leader in tau-based research in Alzheimer’s, had on 31 May 2022 unveiled initial data from the completion of the randomised portion of their pivotal Phase 3 clinical trial, LUCIDITY (NCT03446001).

Highlights of the TauRx announcement:
  • LUCIDITY data suggest that participants receiving hydromethylthionine mesylate (“HMTM”) decline at a rate substantially less than is typical in Alzheimer’s based on published research
  • TauRx’s lead investigative oral drug, HMTM, has been tested in 598 people with Alzheimer’s
  • The safety profile is favourable and consistent with previous HMTM studies
  • TauRx will now pursue regulatory submission and coverage for HMTM

What to do with Genting Berhad?

As at 31 March 2022, Genting Berhad holds about 20.3% of the equity in TauRx. 💝💝💝

Genting TauRx Diagnostic Centre Sdn Bhd, a company established in Malaysia, and its wholly owned subsidiary GT Diagnostics (UK) Limited (collectively, “GT Diagnostics”) was founded as a collaboration between Genting Berhad and TauRx Pharmaceuticals Ltd Group and is currently developing new tau biomarker and psychometric tools for people with Alzheimer’s, caregivers and clinicians for early detection of Alzheimer’s.

GT Diagnostics currently develops readily deployable e-platform tools for home use as well-being apps, alongside professional tools for expert use to aid diagnosis and monitoring of dementias. Company website: https://www.gtdiag.com/

How big is the potential market?

It is estimated that there are 50 million people worldwide with Alzheimer’s currently. 💢💢💢

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