(Alliance News) - ValiRx PLC on Wednesday said the US has allowed a patent claim for the use of VAL201 in metastatic cancer.
Shares in ValiRx were down 7.1% at 0.21 pence in afternoon trade in London.
Granted by the US Patent & Trademark Office, ValiRx's patent applies to the use of compound VAL201 in "preventing the worsening of symptoms of a metastatic cancer, reducing the progression of a metastatic cancer, or treating a metastatic cancer". Metastatic means the cancer has spread to another part of the body.
At present, VAL201 is being developed as a treatment for advanced prostate cancer which has spread beyond the prostate, most commonly to the lymph nodes and bones, as well as other solid tumours.
VAL201 inhibits proliferation of tumour cells and has an inhibitory effect on metastases in the lunch node.
ValiRX Chief Executive Satu Vainikka said: "With previously granted worldwide rights for the use of VAL201 in prostate cancer, we are very pleased that the [US Patent & Trademark Office] has allowed claims for the use of VAL201 in the prevention and treatment of metastatic (including prostate) cancer. I believe that not only will the allowed claims complement our other intellectual property and provide the company with a more compelling package to offer when in discussions with big pharma, but I also believe that if we can reduce the symptoms and progression of metastases, as well as targeting the lesion, through the use of VAL201, we can improve prospects for patients."