Member Info for ragnarr

https://www.news-medical.net/life-sciences/Liquid-Chromatography-Mass-Spectrometry-(LC-MS)-Applications.aspx

https://www.news-medical.net/life-sciences/Gas-Chromatography-Mass-Spectrometry-(GC-MS)-Applications.aspx

Gerry, if you are looking in you guys need to contact Dr Joanne Hewitt.
https://www.esr.cri.nz/our-people/our-science-team/joanne-hewitt/

I forgot, I did mean to mention that having listened quite intently to the interview - in the section asking about VAL 301 I got the distinct impression that Suzie nearly slipped up and corrected herself when she said ‘ So actually although there is ....err….if somebody does want to take it off our hands‘ .

Could simply be wishful thinking but its just my take.

Rincon Directors been buying
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02450098-6A1061988?access_token=83ff96335c2d45a094df02a206a39ff4

Well even the USA survey validate Microtox - there are 29 publications where Microtox has been fundamental in testing
https://www.usgs.gov/science-explorer-results?es=microtox

roace - this is the full transcript from the below
https://audioboom.com/posts/7973052-midweek-takeaway-with-valirx-ceo-suzy-dilly
Have you got any other link i can look into.

drshan - good to see you here back up to 50/60p once sub-licence and service agreement has been signed.IMO.

What a pointless comment.

MR: can you confirm why you are so confident that the first payment will be this year and how much are VAL likely to get in consultation fees from the company going forward…youve answered the second part already so..

SD: so the reason we put the timeframe on the RNS is because there are timeframes in the letter of intent. So there are clear timelines that say they expect their due diligence tom take x amount of time, we added a bit more time on to, in order to allow for thanksgiving and Christmas and came up with a number that still gives us a little bit of clearance before year end. So…I had a chat with our nomad, a chat with TheoremRX, and said well look I want to put a timeline in the RNS because I want people to be clear that this isn’t an open ended arrangement, This isn’t just a go away and try anything you like and maybe eventually you give us some money, this is a genuine letter of intent that says you have a set period of exclusivity where you can do due diligence and at the end of that period either you walk away or you buy it . And honestly with thanksgiving and Christmas in the way there will be a little leeway on that, and our intention is that this is defined and this is stated as such because that is what we expect to happen. Thats what is written into the agreement…thats what we have scheduled and trust me they have already started the due diligence (laugh) over the last couple of days so err.. (laugh) … see err Ive not been trying to dodge shareholders I may have been …erm not receiving all the e-mail I might have been, as quickly as I should be

MR: Is there any payment…err.. If they walk away

SD: That would depend or not on whether the service agreement is already signed. So because the service e agreement is signed separately from the letter of intent and those kind of things weve got an opportunity to get that started sooner because I am already doing some work on their behalf. So, either it will be on the service agreement side rather than any payments from licencing

SD: I am sure that the existing holders and legacy holders of the company will agree that since you have come on board you have certainly turned the fortunes o=f the company around and I am sure that they are very grateful of the position they are in, that you are in right now so CEO of Valirx Suzie Dilly…Thank you very much

MR: do they have or expressed any interest or potentially expressed in 301and 401 I think is one of the questions that we skirted around

SD: Yeah so 301 is the same peptide as 201 its in the oncology indication of endometriosis, I say obviously because we talk to them about the peptide and the science behind the peptide, and our licence from CIT cancer research UK covers both , it covers the actual of composition of (unclear) patent, so it covers anything we want to do with the peptide, and we talked about it, it was part of the negotiation so we said hey (unclear) this as well, not quite why… get one free but, its always part of the negotiations to see what else you can out in and for what extra money . in the end we decided that it would be far more interesting for us to keep it …err the conversation wasn’t going in a way that made it more valuable to us to put it in with the deal. So we decided we would carve it out separately and it is err… something that we would like to develop further, its squarely in our area of expertise, in womens health. there clearly is a need for a new treatment somewhere for endometriosis and we see that when we are talking to potential partners for that programme all the time and it is clearly in the pr-clinical space that we are trying to build our pipeline in. So actually although there is ....err….if somebody does want to take it off our hands , or does want to partner it at the moment particularly with the work we do in conjunction with the Japanese pharma company at the moment , that would be great, however we are also in development here, developing it and doing further research on it ourselves at the moment as well.

MR: Will Cenkos have a very visible presence over the next few months

SD: I think er… very visible has a different meaning to different people, so they will be more visible to retail as well as institutional investors when they start…. er writing broker notes and those sort of activities, but I believe….that they will have already made Valirx more visible to some people already, err… its just not necessarily the people who will be on this call, because its very much different audiences see different things and different audiences want to see different details. So its…quite often I … the age if the internet that there is a mass (unclear) put out for one audience is that is going to be picked up by everyone. However where Cenkos have approached people ..err… separately that wouldnt necessarily be visible to retail investors , so I have complete faith in what they are doing already not just what they are going to do in the future

MR : Ok very good so there are a couple more questions : Does the deal give us funding for the foreseeable future .

SD: (laugh) I use the wording foreseeable future in my my interview with BRI yesterday… and I got slapped by my finance director for that because he asked me whether or not I has a crystal ball that could see more than the next milli second into the future because clearly I cant. So I have to find a way that doesn’t quite say that, but certainly we already had working capital covered until the middle of next year anyway, er.. I dont think there are many companies that have been publishing their bank balance openly, every quarter for the last year in the way that we have in order reassure people that we have broken the cycle of placings after placings purely for working capital purposes. So I can categorically state that, and again I will probably get slapped on the wrist=s tomorrow for this, errr working capital is absolutely fine, as I say we had it until the middle of next year anyway, with the money coming in hopefully from TheoremRX on top of that, that certainly expands the runway for another year or so after that. Clearly if there is something that we want to spend money on that isn’t working capital, ie if there is a… great irresistible technology platform that we need tom. Build out the company and build the larger more integrated company that we are looking for. Then that is a different question and clearly we would have to approach shareholders about that and see what you think about it, see whether or not you agree with us that that would very much be value creative ..er to the company, but it is certainly not going to be a working capital fundraise for the Christmas party.

MR: Ok we didn’t write this next question: How important will PR be going forward and will this be addressed.

SD (laugh) I think that’s your PR company that has written that question just…

MR: No…no I promise you we didn’t.

Sd: So everybody know that we are keen on shareholder communication, we want to make our shareholder communication as open and transparent as possible, making ourselves available at er… reasonably short notice ..obviously its also actually you making yourselves available at short notice. But just making sure people know we are out here, we want to talk to people…er even when we have had a day like yesterday, making sure that doesn’t mean we are going to hide from people, of course, of course its not…we want to make sure that shareholders hold us to account for everything that we do. We are proud of the deal that we have done, and that weve announce the letter of intent this week, we want people to know that, we are not going to be defensive about it. So the PR is about improving communications and there are a lot of different aspects to that. So your aspect is working great because I am here talking to you tonight. And then the (unclear laugh) I don’t want, will probably insult people on the call…er… the more institutional investors, I was going to say sophisticated, but more institutional investors are then handled by our brokers IR departments.

MR: I will ask this question bure err…Do you think yesterdays price action was justified and how do you plan to reverse it.

SD: (laugh) Well… my answer to how to make the share price go up I have definitely already answered. We are building value into the company through science and commercial arrangements. The long-term strategy in the company is to be much larger than we are at the moment and we will do this by bringing in new programmes in as well as by out licencing the legacy programmes that we have. So some of that is going to be more visible, more quickly that other bits. And second, we have also talked about our strategy of looking to potentially expand our capacity by developing some early-stage technology platforms or acquiring some early-stage technology platforms to bring in house. And expand our offering particular to make sure that we can facilitate developments for treatments for diseases for womens health and making sure that we can get women into early-stage clinical trials even where it is not necessarily womens health condition. Now we believe we can help that to happen across the board by developing technology platforms in that area. So all of this is about building a coherent company about making an integrated company that can offer services to the wider industry and bring more revenues , while developing our own in-house pipeline of drugs, which is going to create value, because it is an actual thing, its going to be in the pipe line and then of course out-licencing out those bits of pipeline, whether or not the are legacy assets we already have or the ones that we are bringing through . so long term we have a lot of plans and strategies around value creation, around building the company ...and really making this something that people will recognise as a fully functioning integrated biotech company

MR: Ok great thank you Susie. Im going to ask you some of these question that weve been given…erm because they will sound a lot more intelligent that my questions probably but .. lets give them a go and see what you come up with. So the first question: What royalties will VAL 201 attract at per indication on commercialisation…I will send you the crystal ball now

SD: (laugh) (unclear) I am afraid that will have to remain a Chrystal ball question for everyone on this call because clearly the commercially sensitive terms that…

MR: I think many investors don’t understand that when you get down to the nitty gritty of these deals you cannot put to market the… Its just all commercially sensitive information so unfortunately…nahh. we are going ...I mean it may come out in the wash as you say, just like some of these… there…revenue incentives and the consultancy charges eventually will come out in financial but…Nah… you will never find out the real deal on the commercial side of things, But ..

SD: No ...its something that we will certainly…err… I talk to the regulators and talk TheoremRX and talk to CIT who are obviously involved as well about what…further information can be put out when the final deal is signed, but certainly at this stage anything beyond the headline numbers …if you put it out now er they might decide to...err renegotiate due the due diligence procedure. They could find something and say oh well we didn’t know about that we are going to (unclear)cut in half just because you mentioned it publicly. Its expected to be mid…er… mid to high single figures. So its a pretty standard sort of deal.

MR: Yep that’s basically the point that we were coming back to. VAL is a different animal to what it was a year or year and a half ago because ultimately these are legacy issues or legacy deals that are going to be going out and hopefully be very prosperous in terms of what comes back. So on that point the question I would ask is… you mentioned in the RNS that there is one…If one happens it is 61 million dollars, but is it likely from a medical perspective that there will be many different uses for 201.

SD: Yeah that’s quite an interesting question because as I have highlighted theoremRX is a team that has a prostate cancer specialist in it in particular, so we are very clear that it is er..95 percent likely that prostate cancer is going to be their first choice of disease indication to go into , but scientifically.. yes there is rational for this to go into other cancer types as well, and in fact we even had that in our trial protocol for the phase one and two clinical trials that we completed last year, in that we had the opportunity to go into other solid tumour types in the protocol where rational existed scientifically. So this could mean because its erm…the mechanism of action along the pathway where hormones stimulated cancer cell growth is impacted. This isn’t just androgen hormone, so testosterone, this is also oestrogen driven, so where there is oestrogen stimulated cancer cell growth, this also has an opportunity to impact those cancer types. So we are talking ovarian, endometria or breast… any of those female cancers have potential to be treated by VAL 201

So obviously it would be great if TheoremRX went for those, but actually even if they don’t, because they are looking to take this through to a further stage in clinical development, and then they will look for a partner to carry out commercialisation, and final market authorisation processes. And at that stage, that final part they may choose to broaden the scope as well and we still benefit at that point if they do. So that option is there throughout the time of the sub-licence … and that opportunity could come back and benefit us at any point. And so its very exciting, we are very pleased to have sneaked that bit in there …because it is something that looks quite innocuous but actually could have quite a major impact if it turns out to be relevant

MR: Yep… what really hit home to me yesterday when we were speaking with you briefly yesterday evening is that VAL is a company , and yes its end game is to be worth more than it was the day before or more than it is now, for the future for the shareholders , but I saw it come through and what you were saying actually its very important to you that these drugs or potential drugs actually do have an impact on people who have cancer. So… you know… there is a real human side to this, you’ve been involved in this for a long time and you even said, I think in your previous interview part of this was for stuff you did at university and your PHD and so on and so forth. There really is a human side to this so would you like to comment on that

SD: Its always a really careful balancing act because on the one hand I am a scientist at heart and I am driven by the desire to do good science to understand science to understand science better and to be able to apply that understanding into something really practical and useful so actually making drugs that are going to make people better and that’s .. erm… something…I think when we were speaking last time I explained that I went to university to do medicinal pharmaceutical chemistry, specifically because I wanted a purpose behind the study everyone wanted me to go to maths and I thought, great I ca do maths if I want ed to but doing medicinal pharmaceutical chemistry, not just our chemistry… there is a point to there is end goal.. I ca make drugs that are going to make people feel better out of this.

But the there is the…of course as a company we are here to make money for our shareholders, we are here to run the company for the shareholders and there is the balance, there is the balance between the good science but there is also the balance so… er… ethical considerations for the patients as well, ad that is long term for the patients, but also for the patients in the clinical trials and I think, ive spoken quite a lot over the last year about how I am not sure that AIM is the right place for a company to be ruing a single clinical trial because clinical trials, you have to protect the patients welfare. You cant be having constant …constant hype around it because that’s going to impact the patients who are actually on the trial at the time. So that’s why we focused on this niche of recruitment in the future, but in the meantime we have got these couple of really great assets which are already in clinical development that we can now pass on to people to do the next stage of development allowing that ..that cash from those to come back in order to fund what I think we will be really good at, which is that pre-clinical translation piece to get projects to a stage where it appropriate for somebody to take it into clinical trials

MR: Experts… I don’t think there are any experts in this room

SD: Laugh (unclear) …I think if I can science and be of value, as in bring valuable science into a company, then the company value will go up, and I BELIEVE IF I can build commercial deals into a company and show that money can come in then its should, the value of the company should go up. So ultimately hopefully that will come to bear… As we say we will have to just see where the market forces take us

spent on it…its clearly going to be showing up in our accounts quite quickly so its going to be clear to everyone when it starts coming in

MR: You could say it’s a significant revenue for working, to help working capital and keep the company…

SD; Absolutely, it will pay our salary, its that kind of level, so we are certainly not going to be losing by me spending time on it, lets put it that way.

MR: yes of course…Obviously the market reaction was very interesting yesterday ..hmmm…that you know to open, I watched it open at 65 and obviously though it is one of those… you know.. it hit the found running and then obviously to see the sudden drop and massive sell-off was a …err…obviously concerning for everybody. Do you think that the market is erring on the side of caution on the fact that due diligence still need to be completed there before anything is confirmed indefinitely.

SD: Ok…its…quite possibly that is the reason, its always quite hard to tell with these things, I know that shareholders don’t like it when I say I can never predict which way a share price is going go based on the news. I find it quite funny when we get asked by the Nomad or the regulators, have you got any inside information that could affect the share price, I say what information, I don’t know which direction its going to make the share price go in. So yes, its possible, and I guess we will see wont we…in a few weeks time, and those final contract are signed and the due diligence is complete, if everything does go to plan, and everything gets signed on schedule then clearly we will announce that as well… ad we will have to see whether or not that reassures everyone and puts us back to or higher than where we were.
Clearly as Ive just said I can never make a share price prediction, because its…ere… well, its er gripping in the air for me, I leave it to you experts at predicting share prices.

MR: And what sort of audience do they have in terms of funders and backers for funding these operations.

SD: Well being US based they have a whole different world of (laugh) funding opportunities to ours, so I think they, certainly when I was first starting out in the biotech world fifteen years ago people always said if you go the us you can add a zero to everything, and I always used to think that was a bit of a joke , and I think maybe its not quite as true as it used to be , but certainly they, the world of financing and early stage biotech finance is very different to over here. So they are talking to private funding groups, family assets or private equity, they certainly have quite a lot of ideas of where to get the money from. We will be carrying out due diligence on them, the potential investors as well as them carrying out due diligence on us over this next period.

WR: Ok, As part of the RNS it was stated that Valirx would perform consulting services to TheoremRX in the form of a technology etc so can you talk us through what that means in terms of revenues or income to Valirx going forward

SD: Yeah so normally when you approach a deal of this sort, you would have a period of technology transfer in order to make sure that that all of the history, all of the techniques that are known about, of the project transfer across smoothly and there are no hick-ups when you transfer across. Ow this is a little bit more than that, because this actually provides for us to actively provide services for around two years in order to support their further development of the programme. So this is just making sure they do the science right, this is them recognising that we have some skills and we can provide some years on to the UK clinical site, for example…in order to make sure everything runs in the best possible way, so we are looking for that to be a very active part of the deal, I almost said collaborating there but it is (laugh) is a sub-licencing deal and not a joint venture or collaboration . We are going to be under a serviced agreement which will be a standard consultancy agreement for my time and the time of any of our staff or advisors that we wat to look into it, in exchange for cold hard cash. Now, and that will be cash coming in on a monthly basis , we hope for that to start before year end and certainly I have already been working with the scientists in quite a lot of details about exactly what we are going to do for that , so although we are not going to put a number on exactly the money that is going to be coming in because that is probably going to vary from month to month depending on how much time needs to be

MT: So do you want to tell us a little bit more about TheoremRX I terms of who they are, I mean I know there have been a few web sleeves, who have been trying to search down, having a look on google saying they are a one man band outfit, can you give us a bit more about their credentials please.

SD: Yeah so actually I have to admit I have been watching the Google thing, that’s kept me chuckling for a while, One person has actually found the correct Ken Sorensen so congratulations, I am not going to name who it is, but I think I saw them on Zoom, if he uses the same Zoom name as LSE. But yea, so Ken Sorensen was obviously named in the RNS, he is, as somebody has found through power of people, he is Patent attorney in the US, he has been a research scientist in the past, ne has been involved in a number of bio tech deals before and he is the guy for finance for TheoremRX , there is also a scientist, actually two scientists, one of whom is a prostate cancer specialist, the other one is a peptide specialist, so I think that they (laugh) are really a rather good team to take VAL 201 forwards, particularly for the Prostate cancer side , they have all worked in various places around the world, In the UK as well as in the US and at the moment they are half USA and half Canada based, and the fourth member of the team there that we have met so far is more of the operations guy , he is the person that does the commercial and the legal work. So it looks like a very coherent team, they have some very detailed science plans, they have certainly asked all the right scientific questions , and done quite a lot of digging and quite a lot of interrogating about us over the say… I was going to say six months but it has gone o longer than that now, probably about 9 months since we first spoke to them. So, most of this year we have been back and forth with pretty much weekly calls with them… first of all negotiating the science, linking exactly what we have done, why we have done it, what the real details of the science are and what the opportunity is ad what the potential markets are. And then leading on from potential markets to what the potential deals are around it, so this is highly negotiated on both the science and the commercial side, and we know exactly what their plans are going forwards as well, so that’s what is really exciting about this .