ValiRx Share News (VAL)

(ShareCast News) - Life science company focused on clinical stage cancer therapeutic development, ValiRx, updated the market on the clinical development of its novel cancer treatment drug, VAL401.The AIM-traded firm said ValiSeek, the joint venture between ValiRx and Tangent Reprofiling, was formed to progress VAL401 into clinical trials for the treatment of lung cancer and other oncology indications.Following its announcement on 11 August that all regulatory approvals had been received for the VAL401-001 clinical trial in Tbilisi, Georgia, ValiSeek reported back from the clinical team meeting held in Tbilisi earlier in the week on Thursday.It said Dr Suzy Dilly, Dr George Morris and Dr Victoria D'Aquino attended the meeting on behalf of ValiSeek, with the Tbilisi-based team at Clinical Accelerator joining the Investigators and clinical support staff at the Medulla Immunotherapy and Chemotherapy Clinic.The Clinic reported that as the first patient has proceeded sufficiently through the dosing phase of the protocol, the second patient is now approved to also commence dosing.Additionally, the screening procedure for further enrolment remains underway. As dictated by the agreed protocol, the patients have undergone biochemical and safety testing prior to dosing and the dosed patient has continued to be monitored following the first dose of VAL401.The close monitoring will continue until the patients are adjusted to the effects of the medication, after which the patients maintain dosing for six months, with routine monitoring and testing at regular intervals, the board said."Our trip to Tbilisi has been very useful in increasing our understanding of the position of VAL401 in the treatment environment," ValiSeek CEO Dr Dilly said."To see the enthusiasm of the clinical team and in particular to learn about the equal enthusiasm of the patients, provided a welcome reassurance that both the trial and the treatment have been designed appropriately and with the correct ethical influence in mind and that our goal to improve patients' quality of life is achievable."Dr Morris, COO of ValiRx, added that he was delighted to see VAL401 progressing into the clinic satisfactorily."This excellent news continues our joint momentum towards new clinical developmental milestones and I look forward to VAL401's continuing and exciting progress."