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ValiRx PLC - clinical stage drug development company - Enters an evaluation agreement with an unnamed London university to investigate a novel technology designed to treat breast cancer. Under the agreement, ValiRx will carry out a defined series of preclinical tests on the drug candidate molecule over the next nine months to validate the technology and determine suitability for commercialisation. This preclinical evaluation will investigate the action of the molecule against triple negative breast cancer and other indications.
At the conclusion of the evaluation period ValiRx has an option to license the technology on pre-agreed terms, it adds.
Chief Executive Officer Suzy Dilly says: "I'm delighted to have secured our next evaluation programme, which, if successful, will achieve the dual objective of building a pipeline in both women's health and oncology. We are also delighted that the Principal Investigator of this exciting technology is keen to remain actively involved in the next stages of development."
Current stock price: 24.00 pence, up 12% on Thursday
Year-to-date change: up 14%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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