ValiRx PLC - Nuneaton, England-based drug development company - Completes the evaluation of the impact of a peptide drug candidate against triple negative breast cancer. Evaluation concludes there is "good evidence" of biological activity and a "strong" rationale for further development. Adds that the drug candidate was investigated over nine months. Tests also demonstrate promising data on ovarian cancer cells, in addition to the targeted breast cancer cells. As a result, ValiRx has notified the academic team and intellectual property & licensing team at King's College London that it wants to proceed to full in-licensing.
Current stock price: 13.50 pence, up 26% in London on Wednesday
12-month change: down 29%
By Heather Rydings; heatherrydings@alliancenews.com
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ValiRx (VAL)