RE: News...4 Mar 2021 09:04
Here you go...
15 February 2021
("ValiRx", the "Company" or the "Group")
Extension of Collaboration Agreement
London, UK - ValiRx plc (AIM:VAL), a clinical stage drug development company, announces today that it has entered into a new agreement with Physiomics plc ("Physiomics")(AIM:PYC), the oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions. The new agreement supersedes the agreement between Physiomics and the Group which was announced on 13 September 2011.
Under the terms of the new agreement, ValiRx will benefit from Physiomics' experience in modelling the effects of prostate cancer treatment, as well the use of the latest version of its Virtual Tumour⢠technology, which will be applied to derive valuable information from the additional data generated by the completed clinical trial of VAL201. Physiomics will also support ValiRx in modelling the use of the VAL201 peptide in endometriosis (VAL301) and Coronavirus (BC201).
Physiomics has developed a quantitative systems pharmacology approach that uses pre-clinical and clinical data to model the activity of a drug candidate. This data can be used to explore the mechanism of action, disease impact and optimal dosing strategies.
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. Eligibility for part of this fee will be conditional on completion of an agreed program of work by Physiomics that builds on the work already carried out under the 2011 agreement. This program of work will start on 15 February 2021 and is required to be carried out by 15 November 2021. In recognition of the collaborative nature of this new agreement, Physiomics will also be offered a seat on the ValiRx scientific advisory board.