Transcript5 Jan 2022 13:56
For the investors interested here is a transcript of Suzanne Dillys interview answers - i havn’t bothered with the questions as its all self explanatory.
Now this Service agreement is a really important step for us towards setting up the sub licence of VAL 201to TheormRx. So just tp provide a little bit of a recap just in case anyone listening here today hasn’t caught up on the news from the last couple of months from ValiRx
Val 201 is our programme for Prostate cancer that we completed a clinical trial of last year, and we signed a letter of intent in November to say that we intend to sub licence VAL 201 for the use in Oncology, and just oncology, non-oncology uses stay with ValiRx, to a company called TheormRx. TheormRX are a newly incorporated company, incorporated in Delaware, in the US. This comprises a team of industry experts particularly including a patent agent Ken Sorenson who is frequently names in our RNS releases on the subject , who is executive chairman, but it also It also comprises chief scientists and a business operative. So we have been doing quite a lot of work with one of the scientists in particular since the letter of intent was signed in order to allow them to do due diligence on the programme, but also to start setting up the next clinical trial for VAL 201 which they will be sponsoring, be funding, but we are going to help them by providing some services via this consultancy agreement that enable us to make sure that our knowledge of the programme and our local knowledge, because they are hoping to run this trial in the UK, will be used to make sure this trial is set up promptly, and that it runs smoothly once it is up and running.
So this next signature is exactly as we stated in the letter of intent announcement, but there are a number of documents that go along side the actual sub-licence that allow different things to happen around the deal. So, we also announced in December the first step of the progress towards the sub-licence when we announced that we had amended our licence with CRT, who we licenced the programme from initially, and now this licence allows us to start doing that work towards setting up the first trial.
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