LONDON (Alliance News) - ValiRx PLC on Thursday said pre-clinical studies showed that its VAL101 compund has a potential to prevent cancer growth at cellular biochemical and genomic levels.
VAL101 molecule is ValiRx's lead therapeutic candidate which is derived from GeneICE technology platform, based on an world-wide exclusive license from Imperial College London.
VAL101 compound was designed against a gene expressing Bcl-2 protein, which has been implicated and associated with various cancers.
The biotechnology company said the compound will be taken forward for preparation and use in clinical trials.
ValiRx added that it progressing the project in a commercial and academic partnership with undisclosed collaborators in Finland, Germany and Denmark. Also, it intends to add commercial partners in the US and China in order to support manufacturing and clinical development.
"I am extremely pleased about these developmental results that the collaboration has produced," said Chief Executive Satu Vainikka. "I look forward to the future development of this exciting field and to the development of VAL101 and further related GeneICE compounds."
Shares in ValiRx were trading 13% higher at 3.11 pence per share on Thursday. Earlier, it hit a high of 3.94p.
ValiRx (VAL)