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LONDON (Alliance News) - Life sciences company ValiRx PLC Thursday said it has signed a contract with bioanalytical chemistry and research company Admescope Ltd for access to the TRAC Finnish gene expression and biomarker technology.
ValiRx acquired the assets and intellectual property rights of TRAC at the start of 2015. Under the agreement, on which no financial details were disclosed, Admescope will licence the TRAC technology for its toxicological testing services unit.
"The acquisition of the TRAC technology strengthens our biomarker capabilities. This contract - the first since we acquired the business, validates the fact that there is a strongly growing market and licensing opportunity for the technology and I look forward to securing future contracts and to building the biomarker platform into a potentially successful business," said ValiRx Chief Executive Satu Vainikka.
ValiRx shares were up 8.8% to 0.223 pence Thursday morning, one of the best performers in the AIM All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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