LONDON (Alliance News) - ValiRx PLC said Thursday it has entered into a collaboration agreement with the German Cancer Research Center for the development of its gene inactivation through chromatin engineering technology platform, known as GeneICE.
The aim of the agreement is to develop new targeting technologies to improve the early detection and diagnosis of various cancers, and new GeneICE compounds to enhance treatment outcomes.
Under the agreement ValiRx retains all rights to GeneICE and improvements to the technology, and has a first refusal on commercial rights to other intellectual property stemming from the collaboration.
No financial details of the agreement were disclosed.
"Our scientific team is very excited to have the opportunity to enhance our GeneICE portfolio and progress it through to clinical use with the benefit of the additional support and validation provided by the [Center]. The collaboration will and already has provided significant benefits," said Chief Executive Satu Vainikka in a statement.
Shares in ValiRx are trading down 2.6% at 0.331 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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