ValiRx shares jump as Cytolytix gets Knowledge Transfer Voucher grant

(Alliance News) - ValiRx PLC on Monday noted that the peptide nanoparticle formation Cytolytix received a Knowledge Transfer Voucher grant in conjunction with The Open University.

The life sciences company focused on early-stage cancer therapeutics and women's health highlighted that the assessment of formulation options for the triple negative breast cancer project CLX001 has progressed during the first quarter of 2024.

Cytolytix Ltd is a partially-owned ValiRx subsidiary established to progress CLX001.

"This initial grant is being used in a pilot study to assess the effectiveness of Cytolytix's cancer-specific lytic peptides in neuroendocrine prostate cancer," ValiRx said.

Meanwhile, ValiRx noted that the number of prospective clients for Inaphaea BioLabs's services is continuing to grow, with 11 at an advanced stage of discussion.

ValiRx shares jumped 31% to 2.88 pence each on Monday afternoon in London.

By Tom Budszus, Alliance News slot editor

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