Member Info for paternostpauper

Always a positive sign to see so many filtered posts. If the naysayers were so confident they wouldn’t feel the need to spend their days posting the same old drivel. Holders are more than happy to see the coming months play out. Clearly, historians can’t take that chance.

@ Ray P

I can’t be ME. ME is out working on his handicap. I’m here working through yours. ME and myself do have something in common, though - he writes the RNSs and I read them. Maybe try it sometime. 😁

It is reasonable to assume the SP will head north prior to the AGM. Mark can’t release any info in the meeting that would be considered new, price sensitive, or material unless it has first been RNSd. He will want momentum going into the meeting, making significant news entirely plausible over the next couple of weeks.

There are several potential sources of such an RNS. Limited income has been the main factor holding the SP back for years – and positive news here could be the catalyst to a major rerate. We know that grant applications are pending including six-figure and seven-figure grant opportunities. Some naïve historians claim this is an underhand source of income. 🤣

Partnering agreements and VC funding could potentially transform the company, with Val forgoing a percentage of the asset in return for the financing to take it forward. CytoLytix, Blue Ribbon and the primary ValDom repurposing asset are all candidates in this respect. Animal Health has added further momentum with the veterinary pipeline and osteosarcoma orphan route generating particularly strong interest: “Discussions with a range of external investors are underway and, in some cases, have proceeded to due diligence".

It would only take one partnering deal or significant grant to spark a major SP rerate. In turn, this inevitably brings warrant income into play, where exercised 0.28p warrants could add £1.6m and 0.5p warrants a further £1.8m. As the runway extends, so the SP will increase and passing 1.3p could see exercised warrants put another £3.15m into the pot. Val is now just one strong RNS away from the valuation catching-up with the pipeline.

IMO DYOR GLA

Porky’s hypocrisy is breathtaking – he can’t help putting his trotter in his mouth by continually contradicting himself. On 30/10/21 he laid out his guiding principle and now must cringe reading it:

"I just can't abide negativity, can't stand it at any level. I can kind of get it if it’s to put off investors to try and get a cheaper price, I don't agree with the practice, but I get it."

Big words! Followed by over 6000 posts on a crusade of Val negativity. 🤣🤣🤣

Anyone who dared criticise Porky’s own buys received the customary Porky broadside, “Bloody sick of idiots that still think it’s a great use of their time to knock biotech's such as 4D trying to find cures for some of life's most serious issues” (7/6/22) and ““My own moral compass would prevent me from shorting and trying to damage a business attempting to save lives” (26/4/22)

Apparently, his moral compass is broken as Porky has since spent half a decade desperately attempting to damage a microcap focused on oncology research! 🤣🤣🤣

Of course, maybe he’s just misunderstood - but given these are his own words verbatim, the evidence is damning and a self inflicted character reference. 🤔 🤔 🤔

His defence will undoubtedly be based on history lessons and Val’s past failings. Very commendable this concern for innocent punters, although perhaps a little self-righteous in view of his own ramping of lost causes. While Val builds a future and is arguably stronger than ever, there are no comebacks looming for two of Porky’s proudest disasters - 4D is long dead, with Harland & Wolff on life support. Porky continued to ramp them even into their death throes, costing naïve followers a fortune. A dubious moral high ground for the porcine siren who enticed punters off the cliff-edge.

Trader Nick S has previously suggested Porky is Board material in an attempt to spur a mass LT holders’ sell-off. It would be akin to employing Freddy Kruger as the babysitter. 👹 👹 👹

Porky’s extreme allergy to profit made his deals legendary among seasoned traders – many making massive gains by shorting his positions: His AIM highlights include NCYT, HE1, SNT, INSP, GDR with a strong supporting cast. Warren Buffet is alleged to have said, “This boy’s got talent. He can pick a corporate catastrophe every-time - unbelievable consistency”.

Nowadays, acknowledging his complete failure as a tipster, he no longer promotes his own gems but laughably tells others where they are going wrong - despite his own portfolio resembling a crime scene.

Porky - An ethically bankrupt hypocrite, with the moral backbone of a jellyfish in a blender,

or as Confucius might say: “A man who believes he is a pig .... is a swine” 🐷

IMO, DYOR, KMA

While the uninvested celebrate a premature victory, they overlook a significant factor. CEO Mark was well aware of the situation, both financially and commercially when he recently added another £50k to his already significant holding. In fact, he was probably drafting his comments as the accounts were being prepared.

Mark is clearly more than comfortable with how the company is progressing. ….and knows a damn site more than everyone posting on here.

GLA, DYOR

Yes, very true UXM. Pressure is now off which is why the uninvested historians are so desperate to drown out holders. The R&D tax credit is a given, and 0.28p warrants are within easy reach. In the Proactive interview, “Val was awaiting results from several major funding applications between July and year-end, including six-figure and seven-figure grant opportunities” any of which would materially strengthen the cash position further.

That’s just for starters, in the Dec webinar, Mark issued 2026 objectives & milestones: CLX - partner &/or another grant to progress into IND studies; Blue Ribbon Bio - either grant or VC funding; ValDom repurposing project - partner primary asset & progress top 10 rapidly. At the mid-year point, nothing to suggest all 3 targets won’t be hit.

Other 2026 targets have already been achieved, included CLX formulation selection & patents ✔; opportunities in vet mkt (VAH with osteosarcoma’s orphan benefits attracting VC funding discussions at due diligence stage) ✔; & pipeline expansion/SPV (McGill/VAH) ✔.

Decisions on other evaluations were another objective. Naysayers, showing their naivety, celebrated the decision not to proceed with StingRay. However, a healthy garden comes from pruning early. You don’t let every shoot grow - you remove the weaker ones so the strong ones can thrive. In this case, the ‘contingency’ clause means Val could still benefit financially despite exiting the programme. The Altus SmartCelle evaluation will almost certainly follow StingRay’s exit, with the novel liposomal formulation clearly being preferred.

Calls on 2 other evaluations are now imminent: The hemangiosarcoma VAH indication requires an oncolytic virus formulation, putting the Omios collaboration in a strong position for a cross-licensing deal, particularly as the 2 respective CEOs recently met in California for discussions. The Dundee project was “progressing well” in the webinar and early work shows the compound is doing what it should, but QM University must define how it works before licensing discussions can move forward.

Finally, Mark’ Dec comment was, “I know I’ve said this before” when anticipating Inaphaea income generation and lab break-even, acknowledging that his earlier timing was out. However, PredictRX & PDC sales plus changes to UK & International grant funding are now opening up new opportunities for the lab making Mark comfortable reiterating his breakeven prediction.

Much has already been delivered, and the next set of catalysts is lining up fast.

GLA, DYOR

@ Ripley. Porky sold out of Val to put nearly all his profits into 4D but kept some back to capitalise on Harland & Wolff and a host of other failures. Yes, I know they are both are in administration. Porky has since posted 6000+ times to tell the world how crap Val is and to be fair has called Val’s SP slide correctly. And yet….little old Val is still trading, now with a heavily invested CEO, a streamlined team, numerous assets, money in the bank and serious multi-bag potential. Meanwhile Porky, still blaming Val for his own stupidity, is totally obsessed with the company and spends his days slagging a share in which he has no holding.

While ramping 4D in its death throes, Porky became a defender of the virtuous, attacking anyone who dare oppose his viewpoint:

“My own moral compass would prevent me from shorting and trying to damage a business attempting to save lives…. perhaps use your time to do good and promote stocks you do own and want to do well (Porky - 26/4/22); “…Sang, on the other hand posted 19 times to de-ramp here and claims he doesn't hold stock. Go figure. Guy really needs a hard think about best use of his time, perhaps work in a food bank or better still go and help out at a local hospice….” (13/5/22); “Bloody sick of idiots like @Masterblast here that still think it’s a great use of their time to knock biotech's such as 4D trying to find cures for some of life's most serious issues.” (7/6/22).

Porky also has a guiding principle:

"I just can't abide negativity, can't stand it at any level. I can kind of get it if it’s to put off investors to try and get a cheaper price, I don't agree with the practice, but I get it." (posted by Porky - 30/10/21)

Porky - An ethically bankrupt hypocrite, with the moral backbone of a jellyfish in a blender.

AIMO, DYOR, KMA

No great surprise here - in my last post 3 days ago:

“Decision points on current evaluations. In the Alex Stella podcast, Mark gave his key advice “Don’t hesitate - make necessary decisions ASAP”. Following evaluation, some projects will inevitably be sidelined, as were Barcelona and Imperial. The latest patent RNS suggests the novel liposomal formulation is now the lead systemic formulation, implying both the Agility liposome and Altus SmartCelle may have been deprioritised for a stronger IP position. A STINGRAY update is overdue but even if Val opts not to in license, the agreement retains a strong financial upside so need not equate to lost value.”

Today’s announcement simply underlines that point. Val is now highly selective, only progressing assets with credible, near term monetisation potential. The StingRay termination fits that discipline: it’s a decision made early, cleanly, and in line with the “don’t hesitate” approach. Crucially, as with StingRay, a terminated or shelved programme can now still retain financial upside.

The obvious conclusion is that the programmes continuing to receive resource and attention are those where Val sees genuine, near term commercial prospects. The portfolio is being actively filtered with focus on those assets Mark is confident will deliver.

GLA, DYOR

With the cash runway issue laid to rest until 2027 at least, time to relax and enjoy the glut of imminent news. The Dec webinar set out 6 clear objectives and milestone targets for this year:

• Additional Inaphaea income (PredictRx/PDC revenue and lab breakeven)

• ValDom repurposing project (partner primary asset / fast track top 10 candidates with key patents)

• VAL201 validation and patent filings with rebuilt constructs now progressing (external funded via grant or VC)

• CLX formulation selection (now patented) with financing by either partner and/or grant. Noticeably, the new liposome patent includes manufacturing and stability considerations, strengthening Val’s position in Big Pharma discussions.

• Pipeline expansion. Mark has described the McGill evaluation as “probably the best asset we’ve ever had in house” because it aligns perfectly with VAH’s comparative oncology strategy and delivers a rare dual pathway opportunity: canine and human osteosarcoma. This indication provides a direct route into the orphan drug arena, is already attracting VC interest, and the 9 month McGill/IRICoR programme is running ahead of schedule with clear monetisation potential.

• Decision points on current evaluations. In the Alex Stella podcast, Mark gave his key advice “Don’t hesitate - make necessary decisions ASAP”. Following evaluation, some projects will inevitably be sidelined, as were Barcelona and Imperial. The latest patent RNS suggests the novel liposomal formulation is now the lead systemic formulation, implying both the Agility liposome and Altus SmartCelle may have been deprioritised for a stronger IP position. A StingRay update is overdue but even if Val opts not to in license, the agreement retains a strong financial upside so need not equate to lost value.

The Dundee senescence project is “progressing well” as per the webinar. Healthy cells naturally age and stop dividing but cancer cells may avoid this process to keep multiplying. The Dundee treatment prevents this, which may permit pairing with senolytics to clear out the “aged” tumour cells. Queen Mary University is now using specialist equipment to find WHY it works, as regulators require evidence of clinical pathways before authorising IND studies. If successful, negotiation may lead to a licence and promotion to Val’s in house pipeline.

Last June, Val agreed a 12 month evaluation allowing Omios Bio to assess whether CLX001 can enhance their oncolytic virus. The virus replicates only in specific cancer environments, particularly prevalent in Hemangiosarcoma, a common but highly malignant canine cancer and one of the 3 indications in the Animal Health RNS. Both CEOs recently had pre-arranged meetings at JPM suggesting alignment and increasing the likelihood of a licensing outcome.

Runway extended, patents secured, updates imminent, deals brewing – the next 7 months promise to be very productive for holders.

GLA, DYOR, AIMO

An inevitable RNS and just one of several updates Val will release over the coming months - but likely to be one of the most significant. CLX patent news was an essential step before any early partnering deal. A granted patent signals to partners that the IP is legally protected, technically validated, and commercially viable – giving partners confidence in exclusivity and freedom to operate. Today’s patent confirms Cytolytix is both novel and inventive, and the new filing on Val’s own second generation formulation shows the programme is expanding beyond the original King’s College licence. It also allows Val to discuss this next generation work more openly with partners.

We already know that “ValiRx is in discussions with several potential partners to progress Cytolytix, including a major pharma”. With pan-cancer optionality and so many variables in play, it is increasingly likely that Val is being marketed for multi-partnering. This may include geographic splits (eg US/ rest of the world rights), indication rights (eg TNBC only/ Ovarian only), or even species (human/veterinary). Today’s update strengthens every one of those potential deal structures by broadening the IP base and giving partners more optionality. The addition of wholly owned IP also improves Val’s negotiating leverage.

Discussions with major pharma would certainly include that party’s input into the final package. No-one pays top price for an off-the-peg suit – likewise, a multinational is not going to pay many millions for a licensing deal unless it is tailored to their needs. In licensing negotiations, a Confidential Disclosure Agreement is more common than an NDA. Under a CDA, partners can review internal data while protecting Val’s position. Today’s filing provides the clarity they expect before committing to terms.

CLX will be partnered before it reaches clinical trial readiness and is currently being wrapped so all interested parties receive the package ideally suited to their individual requirements. With patents securing the IP position, financial stability and multiple partnering discussions ongoing, Val’s flagship asset is about to justify all Mark’s “golf jollies” at international events 🤣 and finally reward the perseverance of LT holders. Today’s RNS is the clearest indication yet that CLX is transitioning from development asset to commercial opportunity.

GLA, DYOR

If the doom-merchants were right that past performance dictates future outcome, half of human history simply wouldn’t have happened:

Arteta’s Arsenal would never have won the Prem after a 22-year drought; neither would Blackburn (1995) or Leicester (2016); Wigan would never beat Man C in FA Cup final (2013) or Soton beat Man U (1976); Denmark would never win Euros (1992) or Greece (2004); a 100/1 outside would never win the Grand National as did Foinavon (1967) or Mon Mome (2009); Buster Douglas would never knock out Mike Tyson (1990); players who would never win Men’s Wimbledon include P Cash (1987) & Krajcek (1996); women winners would never include M Bartoli (2013) or Vondrousova (2023); amateur J Cahill would never beat No.1 Ronnie O’Sulliivan in snooker’s World Champs (2019); heavily outnumbered England would never defeat the French at Agincourt (1415); 150 British troops would never defend against 3500 Zulus at Rorke’s Drift (1879); there would never be a black USA President- B Obama (2009); a woman would never become British PM, as did M Thatcher (1979); and Immupharma would never rise over 1200% in less than a month because apparently a small peptide focused biopharma can’t possibly do that - except when it does!

Every single one of those improbabilities were destined to fail according to Val’s historians. Man would certainly never have walked on the moon if NASA scientists had listened to the sceptics.

Apple, Lego, Starbucks, etc all rose from the brink of bankruptcy. Netflix would never compete with Blockbuster; Tesla was a vanity project that would never actually reach production; Amazon was a loss making online bookshop with no business plan; and in 1923 Walt Disney was fired by the Kansas City Star for “lacking imagination”.

Underdogs overachieve constantly - not because of luck, but because someone, somewhere refused to accept the script. Determination, commitment, ability and team spirit all shape outcomes. Mark E has spent the last 18 months building HIS team, bought in heavily to prove his commitment, and his work ethic combined with both scientific skills and business acumen are why he WILL make Val a success. History doesn’t guarantee destiny; leadership determines whether the pattern continues or breaks.

FOOTNOTE: I’m seeing more green bars than on a Dublin pub crawl. Any uninvested naysayers responding, please ensure to fully detail why Val’s history is a guarantee of the company’s destiny. Obviously, I’ll be sure to spend hours analysing every comment by reinstating all 9 posters currently being filtered. To be fair, I recently did so with Porky but his disgust at a minor 17% discounted raise saw his tears drip onto the PC making all the ink smudged and unreadable. 🤣 🤣 🤣

IMHO, GLA, DYOR, KMA, etc.

Val’s new CLX formulation patent RNS is imminent, covering improved manufacturability and stability whilst retaining potency. Already in discussions with ‘big pharma’ where patent-life and scalable production are central to any deal

StingRay’s 12 mth eval (RNS 5/8/25) is now overdue - Mark expected c.6 mths. Val funds £56k max, co owns all data and can license into an SPV rising to 75% post IND, retaining strong upside even if Val opts not to in license

The Qn Mary Univ pro-senescence eval ended 9/2/26 so an update is also overdue. “Progressing well” in the Dec webinar

The updated VAL201 peptide is fully rebuilt and under eval, with new patents due this quarter. Blue Ribbon talks with external funders are already underway with more due following the RNS release

An SP above 1.4p would trigger 0.5p and 1.3p warrants, adding up to £5m to Val’s bank with runway to 2029

CEO Mark E is Val’s largest S/H with c.60m shares, recently adding to over 8%. He is an inventor on 26 patents, with a strong track record of securing major grant-funding

Val’s SP was over 55p in 2021 with minimal assets and little Board stake. Inaphaea currently has 40 active lab projects

The VAL401 deal unlocks up to £16m in milestones plus royalties and Ambrose have a 4-year timeline to monetisation

Animal Health launched in Feb and already in discussions with specialist vet venture funds re independent funding

Canine osteosarcoma (OS) mirrors paediatric OS, giving Val a unique shortcut to the human mrkt

OS also gives VAH access to faster orphan regulatory routes, reduced trial sizes, PRV opportunities and mrkt exclusivity

The vet oncology mrkt is forecast to triple to $4.86bn by 2034. Mark: “We see a significant short-term opportunity”

The McGill/IRICoR eval is only for 9 months and ahead of schedule, with early objectives already met. Val’s first involving global players, it is for a later-stage asset and Val owns all eval results from the project - a strong IP position

The McGill RNA Helicase inhibitor is orally available - a major comm advantage, especially in the vet mrkt

Inaphaea’s biobank holds 470+ PDCs. Val gets £10k per commercialised line, plus comm-rights and has an ongoing MTA with Nott’m NHS Trust for continuous supply & comm use consent

TwinEdge & Val presented at AACR, the world’s largest oncology event – the first peer reviewed showing of the digital twin work

Inaphaea was invited to write an editorial for Drug Discovery World - rare recognition for a microcap biotech

The ValDom repurposing screen identified 200 hits – all FDA approved non-onco drugs showing anti-cancer activity

A key milestone is to partner the lead repurposing candidate this year – “teaching an old drug new tricks”

The top 10 candidates are now being fast-tracked into dose response and digital twin modelling

The 2024 Dundee deal is for 5 years so Val can cherry pick projects from the Univ’s Drug Discovery Unit

Last Aug/Sept, IMM - another peptide specialist - surged 1028% in 24 days following a major patent RNS. CLX’s new patent RNS is due this month so is now on a 6-day countdown.

The RNS covers formulation and CEO Mark has confirmed patent details include improved manufacturability and stability whilst retaining potency. These are later-stage factors essential to drug production at scale and strongly suggest CLX is entering the phase where major pharma partnering becomes commercially realistic.

The 1/9/25 RNS confirmed “ValiRx is in discussions with several potential partners to progress Cytolytix”. Any negotiations would certainly include external input into the final package. No-one pays top price for an off-the-peg suit – likewise, a multinational is not going to pay many millions for a licensing deal unless it is tailored to their requirements. A CDA in licensing negotiations gives ‘buyers’ the opportunity to examine internal preclinical or mechanistic data while ensuring Val’s interests are protected and allows the third party to influence development of the drug.

Patent security is an essential step before any early partnering deal. A granted patent signals to partners that the IP is legally protected, technically validated, and commercially viable – giving partners confidence in exclusivity and freedom to operate. The countdown to this RNS isn’t just about IP; it’s about unlocking the point where commercial negotiations move from exploratory to concrete.

Exciting times. GLA

Desperation stakes for the Val historians. 6 filtered posts on the trot. Love it!

I’ve always appreciated green bands: The Dubliners, U2 or my all-time favourite, Thin Lizzy. Quite appropriate to the naysayers on here, “Don’t believe a word”. 👩🏾‍🎤 🤣

Last time out, third favourite, SPV from the Animal Health stable romped home at 7/5. Looking ahead, CLX patent news remains odd on but a new second favourite has emerged following heavy betting on significant grant awards landing. Revised odds for next Val RNS:

CLX patents - 8/11 on, major grant funding - evens, VAH/ValDom repurposing link-up - 7/5, StingRay update - 6/4, VAL201 patents - 5/2, VAH Osteosarcoma VC funding - 3/1, Inaphaea income - 7/2, ValDom lead asset partner - 4/1, new evaluation - 9/2, Omios/CLX licence confirmation - 5/1, Val subject of major takeover/merger bid - 6/1, CLX early partnership - 8/1, Dundee pro-senescence update - 10/1, Ambrose/401 news - 14/1, Nick S. TR1 - 16/1, acquisition announcement - 25/1, Porky new CFO - 50000/1

# Porky bets are currently suspended pending dope test.

Actually Nick, that is where you show your naivety. A good CEO should use every means available to build shareholder value. If that means upgrading the way the company operates to capitalise on (significant) grants available, then full credit to Mark. Last year, he had the foresight to enter into several NAM collaborations in anticipation of the market’s movement away from animal testing and this year, Val will reap the benefits.

If Mark sees value in diluting an asset and using VC funds or partners to progress SPV projects to IND stage then that shows initiative. 5% of a £500m asset being regulatory approved is worth infinitely more than 100% of a promising asset that sits on a shelf due to being too expensive to develop to market readiness. Commercial rights alone can bring in many millions each year.

Likewise, maximising R&D tax credits is not a black mark, it is income Val is entitled to. I doubt if Mark feels any shame adding a guaranteed £150k or so to top up the runway. You refer to warrants as if they are to be frowned on, yet last year you were arguing the benefit of having warrants. You do get confused, don’t you.

The recent expansion into animal health and comparative oncology gives a much quicker route to early monetisation as does the recent McGill/IRICoR collaboration which was for a shorter 9-month period and is already ahead of schedule. As regards generating revenue, Mark has already confirmed a runway into H2 and admitted to initially overestimating on the timeline to Inaphaea breakeven, but has included that as a milestone for this year.

It seems you want it both ways. You constantly refer to a history of dilution yet when we have a CEO who is commercial-savvy and uses every source of income at his disposal, you still aren’t happy.

Your main gripe appears to be based on your eagerness for a discounted placing to facilitate your trading. Mark’s position as CEO and main shareholder means he will use every non-dilutive funding available. I very much doubt if upsetting an uninvested trader ranks highly on his concerns. Ain’t life a b*tch.

Val has an abundance of science - but over the coming months it is major grant awards that will dominate the headlines. The regulatory and funding landscape has shifted decisively toward NAMs, academic/industry collaboration and oncology innovation. Val’s revised model now sits precisely at this intersection.

Recent UK and international reforms explicitly prioritise NAM enabled platforms, in silico modelling, organ on chip systems, and PDC models. Inaphaea, through its capability partners, now has NAM technology woven into its DNA. The MHRA’s upcoming framework further accelerates this shift, embedding NAMs and streamlined clinical pathways into policy from 2026. On 18/3/26, the FDA released its draft guidance on alternatives to animal testing, confirming NAMs data will be acceptable when the methodology demonstrates reliability and scientific validity.

Mark’s track record, which includes securing nearly €3m in Eurostars funding, illustrates that the company’s positioning is not by chance. He placed Val ahead of the curve as the industry plays catch-up and moves toward AI aided modelling and away from animal dependent testing. This strategy is already being validated, with Val and TwinEdge presenting their first Digital Twin data at AACR - clear evidence of growing international recognition.

Val’s academic integration is another major advantage. Every recent grant award has flowed through university partnerships, and the company now has programmes with King’s, Open U, Nottingham, Dundee, Sussex, and McGill/IRICoR. These collaborations directly match the SME focused criteria of Innovate UK, UKRI, CRUK, NIHR and Cancer Research Horizons — all of which now prioritise oncology, NAMs and demonstrable patient relevance. This has opened funding routes that previously excluded early stage biopharmas.

Although welcome, the recent awards - even the £250k in October - rank as petty cash compared to those available. Should the anticipated major grants materialise, Val’s runway will extend significantly. The resulting SP surge will see warrants put up to £1.8m into Val’s coffers, allowing Mark the time to finally enjoy all the golfing getaways he deserves! 😂

AIMO

Nick, finally we agree on something. In your last post “As I’ve said, LSE posts are vanity, profit is sanity”.

I’m heavily invested in Val yet have posted 10 times in the last month. You, on the other hand, have posted 19 times just to see your name in print.

It’s a big step forward to concede your vanity issues. It will be a long road to recovery and tough. There will be times when you feel like giving up but, with Porky’s help, you CAN get there. We’re all rooting for you. 🤣🤣🤣

Val has reduced costs, expanded its pipeline, secured two new grants, progressed multiple patents, and launched a veterinary SPV with genuine near term commercial potential - but today’s RNS reveals something far more significant.

“In parallel, ValiRx, IRICoR and McGill have engaged with potential VC funders with a fast-track program targeting a specific orphan disease indication as the primary route to market.” The Jan IRICoR / McGill RNS stated” NewCo will seek external non-dilutive and dilutive funding”. Today’s update shows that interest is already active, with VC discussions even “targeting a specific orphan disease indication”. Orphan (rare) classification brings multiple benefits including reduced trial sizes, tax incentives (US), and exclusivity - stopping rivals from progressing a similar asset.

“The Company is exploring a cross license from McGill/IRICoR for Val Animal Health. VAH has initiated discussions with independent, venture funding specialising in the veterinary medicine sector.” The Animal Health RNS stated: “Several specialist Veterinary VC funds have been identified and initial approaches made with the intention that ValiRX Vet will be independently funded”. So, we can even deduce the indication in question – osteosarcoma.

The vet RNS continued: “osteosarcoma in dogs… closely resembles human paediatric osteosarcoma… rare but deadly condition in children.” These latter factors meet the prevalence threshold for orphan designation in the US, UK and EU. It has high unmet medical need and limited effective treatment options. As a pediatric drug, in the US it may also qualify for FDA transferrable Priority Review Vouchers. A recent award sold for around $200m.

Although there is no definitive osteosarcoma market size (other than behind paywalls), it is one of the 4 most common canine cancers with the total global veterinary oncology market projected to reach $3.1 bn by 2030 (Grand View). Osteosarcoma accounts for approx 10–15% of vet oncology spend, so a reasonable estimation would be $310m - $465m by 2030. The human osteosarcoma drug market estimation varies depending on the source: $1.8bn by 2030 (Data Bridge) or $2.3bn by 2032 (Dataintelo). Even a 1% share of this equates to multi million dollar annual revenues for Val - from one orphan aligned indication alone.

The RNS then covers patents for both CLX (due April) and 201 (Q2). Both require the protection from patents before any partnering can be finalised. Mark has already confirmed ongoing CLX discussions with ‘Big Pharma’ and today’s RNS confirmed re 201, “The Company has also initiated initial discussions with external funders. Follow on discussions are pending the new data set and will be announced in due course.”

With April only days away, Q2 promises to be a period of significant progress for Val.

@ Viera (16.05, today)

Mark made two PROMISES when he was appointed CEO: “to do a 201 deal & to get the lab into profit.”

Sorry Nick, wrong on both counts!

Mark was appointed CEO on 12/8/24. In the 21/10/24 webinar (14 mins) Mark stated: “Our objective is to draw a line under the open ended LOI, so putting a clock on this deal.”

On 30/10/24 he issued a 201 update following a TRx extension:” The exclusivity provided has been extended for a limited time period until 31 Dec”. On 31/12/24 a further extension was granted: “The exclusivity provided has been extended for a final time period until 31/5/25, following developments announced by TRx regarding a transaction with a NASDAQ listed company which the board at ValiRx believe may lead to a positive conclusion…”.

Both updates included this clause: “The LOI and proposed Licence remain non-binding and there is no guarantee that this Licence Agreement will be executed or that it will generate material revenues within the expected timeframe or at all.”

Mark remained “supportive”, and gave TRx every opportunity to deliver, but to say Mark “promised to do a 201 deal” is simply untrue and misleading. 👎

Secondly, Mark’s first documented reference to Inaphaea was in the Oct ’24 webinar (27 mins) where he said, “the lab has not broken even yet. My prediction is that will happen in H1 next year”. A prediction – not a promise!

Admittedly, Mark got it wrong. He even said so in both the June ’25 webinar (39 mins) “objective is to breakeven” and the Dec ’25 webinar (7 mins): “ I know I’ve said this B4… but the milestone is to achieve breakeven in 2026”.

At NO point has he referred to “getting the lab into profit”. Hopefully, we will get there shortly but I’m surprised you thought ‘breakeven point’ meant ‘profit’. 👎

Mark made ONE promise: “to buy more shares”. He is now the main S/H, on 8%. 👍(He also cut costs by £200k pa).

I could follow up with a dozen more positives to show how Val has been transformed under Mark’s leadership but they obviously won’t fit your agenda so I won’t ruin your night. However, please have the decency to support future allegations with just an element of truth.

Pleasant dreams.