(Sharecast News) - ValiRx announced the signing of a significant agreement with the University of Dundee and its Drug Discovery Unit (DDU) on Monday.
The AIM-traded firm said the overarching agreement, set to span five years, would enable ValiRx to access research related to innovative therapeutic candidates.
Within the framework, ValiRx would have the opportunity to evaluate research projects from the DDU aligned with its strategic objectives, potentially leading to additional evaluation projects under pre-defined terms.
The inaugural evaluation agreement under the collaboration would be focussed on the exploration of a lead series of therapeutic candidates in the emerging field of pro-senescence.
ValiRx said pro-senescence involves selectively promoting ageing in cancer cells to halt their growth within tumours.
The research held promise for treating various cancer types as well as other disease areas linked to healthy ageing.
It said the initiative would build on pioneering research previously supported by Dundee and Barts Charity, led by Cleo Bishop, professor of senescence and director of the Queen Mary University London Phenotypic Screening Facility.
The evaluation process for the initial project was expected to last about 12 months, involving a comprehensive examination of the lead series for its mechanism of action and anti-cancer activity at the Inaphaea BioLabs facility, leveraging the expertise of external collaborators.
On completion of the evaluation, should the project meet the specified criteria, it would be considered for in-licensing based on pre-agreed terms.
"We are delighted to be able to streamline the process of reviewing and accessing the excellent research from University of Dundee's DDU, which will help to bring on evaluation projects more quickly," said chief executive officer Dr Suzy Dilly.
"The strength of the DDU and research facilities at Dundee are very impressive and, having reviewed multiple projects from teams there over the past year, we believe that this evaluation agreement will be the first of a series of new projects that can be brought into our pipeline."
At 1556 GMT, shares in ValiRx were up 1.06% at 4.75p.
Reporting by Josh White for Sharecast.com.
ValiRx (VAL)