Genting still banks on dementia drug

People leave the Genting Building in Kuala Lumpur, in this file picture taken May 27, 2009. Singapore gaming operator Genting said on June 8, 2012 it had taken a 234 million stake in Echo Entertainment, raising the prospect of a battle for control over the Australian casino company with billionaire rival James Packer. REUTERS/Bazuki Muhammad/Files (MALAYSIA - Tags: BUSINESS POLITICS)

PETALING JAYA: Genting Bhd’s 20.6% associate, TauRx Pharmaceuticals (TauRx) is still pinning its hopes on an Alzheimer’s disease drug called the LMTX, according to UOB Kay Hian Research.

“A few weeks earlier, TauRX announced mixed results for its first Phase three clinical trial, which showed that while LMTX as an add-on therapy showed no beneficial effect, LMTX as a monotherapy demonstrated significant reductions in disease progression in mild and moderate Alzheimer’s disease,” the research house said.