LONDON (Alliance News) - ValiRx PLC on Thursday said it has been granted a patent allowance for its therapeutic compound VAL301 in both Russia and China.
The clinical stage biotechnology company said that VAL301 has been developed for the treatment of hormone-induced, non-oncological abnormal growth and cell proliferation conditions.
The product has already being patented in the US.
Chief Executive Officer Satu Vainikka said: "The patent portfolio and trial results are the main assets and value drivers for any small biotechnology company, such as ValiRx, and I am pleased that our global patent protection is now so strong."
ValiRx shares were trading up 9.2% at 0.88 pence each on Thursday.
ValiRx (VAL)