RNS!14 Feb 2022 07:07
Looks like few people here sold out last week thinking there will be a war and they can get in cheap! LOL!
Evaluation agreement with University of Barcelona
ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, has entered into an evaluation agreement with University of Barcelona (Spain) to investigate a drug candidate for use in oncology.
Under the agreement, the Company will carry out a defined series of preclinical tests on a lead series of peptidomimetic drug candidate molecules over the next twelve months to validate the technology and determine suitability for commercialisation. This preclinical evaluation, the cost of which will be borne by ValiRx of up to GBP100,000, will investigate the mode of action and potential utility as a treatment of KRAS (a GTPase protein made by the oncogene, Kirsten Rat Sarcoma Virus) dependent cancers including Uterine and Pancreatic Cancers.
At the conclusion of the evaluation period (February 2023), the Company has an option to license the technology on pre-agreed terms.
Dr Suzy Dilly, CEO of ValiRx commented: "The lead series of drug candidates under evaluation in this agreement have been developed towards a novel interaction with the KRAS protein important in many cancers of high unmet medical need. KRAS has been a target of interest in oncology for a number of years, and this project has potential to provide a unique method to impact this important pathway."
University of Barcelona research group's Principal Investigator: "KRAS is a known therapeutic target for several cancers, but until recently, it has been undruggable. However, we have found a way to interact with this target. The partnership between University of Barcelona and ValiRx is essential to accelerate the development of those promising results that we have achieved. This agreement will reinforce the project and provide valuable data to progress towards clinical development."
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