LONDON (Alliance News) - ValiRx PLC Thursday said it has established a US office in Boston, Massachusetts, and has strengthened its US advisory team following the appointment of industry specific advisers.
The life science company said the US operation has been formed to encourage and facilitate greater interaction with academic, clinical and business leaders in ValiRx's areas of oncological development.
It said the new office will be advantageous to the business as it looks to expand its co-operation with biotech and pharma players in the US market.
"ValiRx's expansion into the US is part of our strategy to strengthen our investor base and to take advantage of close proximity to the biggest biotech market in the world. With VAL201 progressing in the Phase I/II trial and VAL401 on the verge of entering a Phase IIb clinical trial, we also felt it important to support our drug development programme by strengthening the team, particularly in the US. It is an exciting time for the group and I look forward to benefiting rapidly from our US presence," Chief Executive Satu Vainikka said in a statement.
Shares in ValiRx were trading up 2.0% at 25.50 pence Thursday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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ValiRx (VAL)