RE: Funding1 Nov 2023 11:29
Hello Island PYC and VAL worked together from 2019-2021 on a new prostate treatment, VAL have been awaiting 18tmtjs for their partner to secure NASDAQ funding to then pay VAL and PYC. This funding is expected in the next week or so (see VAL discussion group and recent RNS
Feb 2021 original PYC and VAL deal
Physiomics will receive a fee (capped at £6m) of 6% of any future net revenues that may be received by ValiRx relating to its commercialisation of VAL201 and its derivatives in any indication, including prostate cancer, endometriosis and treatment for Coronavirus infection.
Val CEO Q and A October 2023
"We have every indication we will be able to put out a substantial update beofe the end of the year - if that wasn't the case then clearly we would have already announced that wasn't the case.. we have a good degree of certainty."
"When the sublicense is signed, we will then be able to invoice them (TheoremRX) for the time that has been spent under the service agreement.. along with the upfront payments and the early milestone payments"