ValiRx Share News (VAL)

(Sharecast News) - Clinical-stage drug development company ValiRx updated the market on its patent portfolio on Tuesday, reporting that it had continued to build its intellectual property position in the first half of the year.

The AIM-traded firm said that it was granted a new European patent on 'VAL201' in June, which extended protection for its use into metastatic cancer, following the announcement of a grant allowance in January.

In Israel, it was granted a patent for 'VAL301' in June, which extended patent coverage into the country for its use in the treatment of endometriosis, as well as other non-cancerous hormone-driven conditions.

Finally, in China, it was granted a patent for 'VAL401' in June as well - the second for it in the country - extended its use into additional adenocarcinoma types.

"I'm pleased to provide this periodic report of progress throughout our patent portfolio," said chief executive officer Dr Suzy Dilly.

"Expanding geographical and scientific protection for these programmes provides a strong commercial background to promote to potential partners.

"This incremental increase in protection of our intellectual property estate provides the foundation for company valuation growth."

At 1154 BST, shares in ValiRx were up 2.08% at 19.65p.