RE: 40122 Jul 2019 09:07
Courtesy of Bossman. ADVFN
A poster over on lse.co.uk wanted this info..
Fto Stumbler
ValiRx Plc
("ValiRx" or the "Company")
VALIRX AND MYSTIC PHARMACEUTICALS SIGN LICENCE AGREEMENT
London, UK., 28 July 2017: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, is pleased to announce that ValiRx has signed a licensing agreement with Mystic Pharmaceuticals Limited ("Mystic") of Dhaka, Bangladesh, under which Mystic has acquired a licence and access to certain patents and products owned by ValiRx.
Under the terms of the license, Mystic gains immediate access to ValiRx's patented technology for its further development by Mystic for the benefit of ValiRx, for a period of five years. This access is inclusive of the Company's pipeline of pre-clinical products for the development of various treatments in Bangladesh and certain other markets. This is the first of a number of such transaction under negotiation in various territories for various indications and applications, directed at supressing cancer progression, cancer reduction and preventative therapies.
Upon market authorisation, ValiRx will receive up to a 50 per cent. royalty from the sale of product.
In particular, ValiRx's GeneICE products could have a significant role to play - especially those GeneICE products against various cancers and metabolic conditions that may be of particular relevance and use in the relevant territories.
Dr Satu Vainikka, Chief Executive Officer of ValiRx, commented: "This is the first of what I hope will be a number of such licencing agreements for several of our products. We at ValiRx are delighted to be working with an impressive Mystic team and collaborating with them on projects to our mutual advantage and a 50/50 split on revenues if the collaboration makes money. We also benefit through the use of additional production facilities for newer products not yet in the clinical pipeline."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.