ValiRx subsidiary enters evaluation agreement with Omios Biologics

(Alliance News) - ValiRx PLC on Tuesday said subsidiary Cytolytix Ltd has entered an evaluation and material transfer agreement with California-based biotechnology firm Omios Biologics.

The Essex-based life sciences company focusing on early-stage cancer therapeutics and women's health said the deal would evaluate the ability of Cytolytix's CLX001 oncolytic peptide technology to enhance activity of Omios's next-generation oncolytic virus immunotherapies.

The agreement will focus on incorporating Cytolytix's oncolytic peptide technology into the Omios oncolytic virus platform, which is expected to take up to 12 months, for a nominal upfront payment.

Upon completion of the evaluation, Omios has the option to enter an oncolytic peptide licence agreement to continue using Cytolytix technology.

"We are pleased to announce this first Cytolytix commercial evaluation with Omios Bio and we see great synergy with their virus platform with a built-in biomarker for tumour targeting," said ValiRx Chief Executive Officer Mark Eccleston.

"We are very excited to work with Omios on the next generation of oncolytic virus leveraging Cytolytix's oncolytic peptide technology to enhance activity. Omios's innovative approach to enhancing their viruses' ability to selectively target and destroy cancer cells offers great synergy with our oncolytic peptide technology."

Shares in ValiRx were up 2.7% at 0.56 pence each in London on Tuesday afternoon. The stock is down 80% over the past year.

By Emily Parsons, Alliance News reporter

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