LONDON (Alliance News) - Biotechnology firm ValiRx PLC on Wednesday said it has received positive results for its VAL201 compound in treating prostate cancer and has extended the study.
The firm said it has received good results from safety and tolerability data accrued during the phase 1/2 trial on the drug and has seen evidence of "disease stabilisation" from CT imaging results, plus evidence of a reduction in progress of the disease in some patients.
ValiRx will now extend the study on VAL201 to more sites involving more patients in order to build on the findings so far.
"VAL201 has demonstrated disease stabilisation, with a lower dose than was predicted by our preclinical evaluations. ValiRx is entering a very exciting phase, which should result in the crystallisation of substantial value," said Satu Vainikka, ValiRx's chief executive.
Shares in the firm were up 11% to 5.70 pence on Wednesday following the announcement.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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ValiRx (VAL)