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Ok here goes - happy reading
VALIRX 3 NOV 2021

Midweek Takeaway: So good evening and welcome to the midweek takeaway, tonight we are joined by the CEO of Valirx Suzie Dilly, how are you today Suzie

Susie Dilly: Im very good Thank you

MT: So obviously we saw the news this week of the signing of the letter of intent to sub licence VAL201 to the…its hard to pronounce …is it Theorem..RX…theres always an RX on the end of something isn’t there. So can you tell us more about the potential deal and what it actually means for the company going forward and also for investors

SD: Yeah so the deal with TheoremRX …I will make sure everyone knows how to pronounce that properly by the end of this…Its one of the biggest items of news we have had in Valirx history, certainly this year, possible forever. This is the first signature on the sub-licencing deal for VAL201, so as we say it’s the first signature, so this is a signature of a letter of intent. Now I know there has been a few questions about why announce a non-binding agreement to start with , but we wanted to be completely upfront ad transparent with all of our shareholders and the earliest possible moment .So I think when I was talking to you a couple of weeks ago I said we would be announcing the first signature, so actually that’s a bit of a exaggeration because its not just one signature o a piece of paper, it’s a signature of us, TheoremRX and also Cancer research technology who are, who we licence the programme from in the first place. So, three signatures on one piece of paper takes a bit longer to organise than just one. This is quite usual, that the letter of intent gets signed first in a deal, it allows them to go out and show their investors that they have got this lined up and that we are not going to sell it to somebody else, in the meantime and lets them coect the legal recourses to making sure the documents are in place to sign up to the full sub-licence at the appropriate time

As things are settling a litte bit and the hoards slowly moving (hopefully) on I thought I would mention that i have a transcript of the Susie Dilly interview last wednesday. If any one would like to read it let my know and i will post it here.

Paulcon
Did you also notice the post before

Delighted to moderate the Skin Trust Club panel at the Beauty Connect conference in Beverly Hills where we discussed Personalised Skincare through the lens of the microbiome. Thank you to our partners Marie Drago Aïmara Coupet Lada Rasochova, PhD MBA

Those three partners
https://www.gallinee.com/
https://beradiancebeauty.com/en
https://www.dermala.com/

Paulcon2021 - what can I say, I dont think I have ever been associated as a badass before :-) not sure it its a complement or an insult but either way
PakkaOi

Rincon released presentation yesterday
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02449276-6A1061669?access_token=83ff96335c2d45a094df02a206a39ff4

gjbrandon - appreciate the contact although in all honesty its all done for purely selfish reasons. I expect DVRG to substantially improve my wealth so dont let me down - I know where you live -lol.
Skoll

Chesh - you do yourself a disservice - you will enter the dvrg sagas along with trillsg and T.Rat … and others ….we will feast in the halls of valhalla together :-))

2/2
It is also really important to think about it because as a UK company and a relatively small UK company we wont be able to stand this up on the ground unless we partner. So, we have to get the right clinical partners that can scale this. The Indian Government also wont contract the TB screening service to a UK provider. They want to use local clinical services …as they should…and so really we have to identify the right clinical partners who will own those state level contracts on the ground and then supply our service into them. Whenever the opportunity gets particularly exciting for us in India is the scale of that, so if you are going to screen the entire population within a five year period which for TB you have to really be doing about 20 percent a year, even if you hit 15 percent of the rural population of one state, lets take Rajasthan for example, that is 7.7 million patients every year who have to screen and a two pound a head that’s actually about £15 million pounds of revenue, and that really begins to stack, now there is a broader long term opportunity linked to this which is called the national digital health commission and its another one of Modis Government initiatives that bis basically saying actually they would like every Indian citizen to have a health ID and linked to that health ID a national digital care record. Now most of the population do not have health ID at the minute and so with the TB screening programme is the perfect opportunity to engage the population, so as they attend the TB screening, they can be given a national health ID. The TB episode that we store on Carelocker can become the first part of that digital care record. Which means that actually, Carelocker could become the clinical cloud store for the Indian health care record, and that is a much, much larger and much, much longer-term opportunity that we are that we are positioning for

Transcript of Toms reply when asked about the numbers 1/2

well we are addressing a total available market in excess of 10 Billion globally, I think that the CDC opportunity is a total addressable market of about 93 Million, here within UK, so a sizable figure, especially considering we are now live with the exemplar site right at the front runner of that, we are … very well positioned for it, and in India with the TB opportunity is enormous, so let me take you through that in a bit of detail, so ern, at the minute TB screening studies are typically charged at about 2000- 2500 rupees per screening episode, which is about 20-25 pounds , now we can provide our technology suite into that space for £2.00 at a 80 percent EBITDA margin, so 90 percent gross plus margin, and that will allow us to essentially to really scale that technology with our partners, clinical partners on the ground in India, and this is really how we scale and adopt this, so …the thing we didn’t mention earlier is that we spent the last eleven months with the dept of international trade working out who are the right partners on the ground are to this with in India ,and so we have announced we have the partnership with Qure.ai but we are also in discussions with Talco companies who can supply the cellular network coverage, and also the Bleepa box hardware as a managed service on the ground , and also large hospital chains we have been in India who are able to provide the radiologists and the clinical specialist who can provide the clinical endpoint to this TB screening pathway. And so what that means is that we will go in this TB screening with the right clinical partners whom will hold these state level government contracts, and we are leaving 90 percent of the potential TB screening contract on the table for those clinical partners. So we are really positioning ourselves as the technology solution in to this TB screening clinical service.

Even The US Army validate Microtox :-)

Microtox Toxicity Testing of the Novel Energetics, 1,4-dinitroglycoluril (DNGU), 3,4- dinitropyrazole (DNP), 1,4,7-trinitrohexahydro-1H-imidazo[4,5-b]pyrazine-2(3H)-one (HK-56), 2,6-diamino-3,5-dinitro-2,3-dihydropyrazine 1-oxide (LLM-105), and 2,4,6- trinitro-3-bromoanisole (TNBA)

https://apps.dtic.mil/sti/pdfs/AD1054366.pdf

May this year Thames Water were fined 4 million for pollution in the Kingston area between 2016 -2019.
In their response they made this statement.
.
Thames Water’s business plan for the next five years will deliver environmental improvements to 745km of rivers across the region. The use of digital technology to create a more intelligent network and enable more proactive maintenance and repair will help drive a step change in pollution reductions.
https://www.thameswater.co.uk/about-us/newsroom/latest-news/2021/may/thames-water-response-to-hogsmill-pollution-fine

Microtox and Thames water do have links
https://www.waterworld.com/drinking-water/article/16216181/industryleading-water-technologies-used-at-london-olympic-games

NHS GIRFT Programme National Specialty Report 2020
https://www.gettingitrightfirsttime.co.uk/wp-content/uploads/2020/11/GIRFT-radiology-report.pdf
extract
Sharing images and reports within and between trusts
Swift and reliable sharing of images and reports is essential to effective working within radiology, and between radiology and other departments. It means that radiologists can easily communicate with the referring departments and clinicians, rather than requiring face-to-face discussion. It facilitates transfers of patients between sites, between trusts – for example, on a network basis – and between the public and independent sector (e.g. when an NHS trust contracts an independent sector provider to conduct some image acquisition, or for reporting).
When sharing is effective, the receiving radiology department doesn’t need to duplicate imaging and reporting that has already been done. The information contained in the images and reports also often provides the context for a referral for more specialist imaging.
But again, at all too many radiology services, the systems for sharing are not good enough. A common issue we encountered was where radiology services received a referral based on imaging that was conducted by an independent sector provider – but not the actual images or reports. The imaging then has to be undertaken again, at the hospital, to enable the patient to be examined and treated. This is a particular issue with ultrasound services.
One barrier to effective sharing of information and images is the use of older PACS platforms, which do not necessarily communicate with each other. One of the key criteria for purchasing any new system should be that it uses standardised approaches to image and report sharing. The RCR clearly articulated these in guidance published in 2011 for the implementation of new PACS/RIS solutions.33 It then provided further guidance on the need for effective image and report sharing in 2016.34 However, perhaps reflecting the difficulties trusts face in delivering IT change, there are still many trusts where the PACS solution does not adhere to these standards. This will be an important issue for imaging networks to address.

if you listen or read the interview Bleepa in the first exemplar CDC (community diagnostic centre) and over the next 6/9 months around 40 more are being launched. If the HNS has any kind of joined up logical thinking it will insist on using one communication ‘glue’ . It would simply be stupid not to. Having said that this is the NHS, so putting it another way what are the chances of none of the 40 launches using Bleepa.

KP: It’s a horrible thought

GB : I know it’s a horrible thought, but, you know it has to be managed and we have to look ahead and look into how to resolve it or at least manage it better than we currently have.

KP: and for the manufacturers, do you not think that they are responsible for the sustainable disposal of these.

GB: Well yes, er you know …the manufacturers have been sued on many occasions and its one of those unfortunate situations where, you know if you are turning £6 or 7 billion of turnover and you get sued and you lose £140 million….Er, I am not having a go at any specific individual within an organisation, it is just the way that the system works . So there needs to be more regulatory, stricter regulatory maintenance to ensure that the quality of our products, what is getting thrown out. A lot of the actual risk came from the waste from these factories so when Dupont was actually, they were sued…I think it was £163 million but they were actually sued for animals and people around the factory of where it was actually manufactured … contaminated the water, contaminated ground and it is exactly the same pretty much everywhere that they are manufactured now. And they are manufactured all over the world, so we have to take that into consideration

KP: Gerry Brandon thank you so much indeed from Deepverge on proactive London

KP: And what are these forever chemicals that you talk about

Gb: They are not something that has been here forever, I mean they have really only been developed since about 1938, actually it is 1938 when Dupont were originally looking to test refrigerant chemicals and came across by accident the ability of a certain type of refrigerant that was the slipperiest that has ever seen and that it could actually contain…be preserved at very high heat, and we all know that in 1954, we don’t know the particular date, but we do know that around about that time Teflon was actually brought to the market, you know, you had your massive Teflon pots, pans everything was non-sticky. And unfortunately what happens is these chemicals are, they don’t fall, eventually the pan will become sticky and you will have to replace the pan. The reason why is because the chemicals come away, and they come away in foods that are cooked, they come away in…like for instance…the biggest issue was, you remember plastics, you could not put plastics into microwave, well with a coating of this all manufactured from these kind of long chain chemicals, its possible to have plastic in microwaves. Although that seems great, but the reality is, that transfers some of the chemicals onto your food. And 99 percent, unfortunately we are at that point, 99 percent of the population of the world actually has forever chemicals in them. I mean thats how prolific it has actually become and some of them are actually dangerous, cancerous chemicals, and in drinking water, they are pretty much pervasive at the moment and there is a move to realise, by the environmental protection agencies around the world that forever chemicals have to be managed a little bit better, and therefore they are looking at ways that they can reduce the potential of risk for forever chemicals, and again detection of those, you know sadly there are as many as…6000, ive seen 2800, 2900 but there is a database of nearly 6000 forever chemicals… and they are just everywhere (stutter) yeah..

KP: And these new pathogens that you will be monitoring, can you explain why this is important

GB: Well… I think you know, as I referred a little earlier, everything up to this time has been analogue, you know physically tested and brought back to the laboratory, and then tested for the viruses there and whether the variant is of concern or not. I think whats critical for…er…the Public health services is to know whats coming down the line, I don’t only mean the next.. pandemic or the next epidemic or whatever. Its basically to be able to identify normal things, normal things like E.coli in water.. that means there is going to be an outbreak of diarrhoea, vomiting from, and a risk to senior citizens. And because we are actually able to get these now…..now we have them , not mass manufactured, because we are able to get them to small enough size and a low cost enough size. We are looking at being able to put them into hospital outlets, put them into nursing homes, schools, offices and large areas where there is a large footfall…of people, which brings them closer and closer to the diagnostic side, so for instance, again referring back to the NHS…er document this morning, they had previously announced £2.3billion going into diagnostic centres, so centre of excellence again, at least a hundred of them across the UK. So if you are moving to a point where the referrals are not at A and E, but from diagnostic centres, what we are looking at is the ability to be able to drop in useful diagnostic pieces of equipment to identify er… not just in the wastewater…but above ground…in the clinicians er…section, and again using exactly the same technology that we do for detecting in wastewater, it’s the same in the breath test, it’s the same in …err saliva samples as well. So its, it’s a .. this is really what we are seeing at government level, the determination to move to a digital means of diagnostics as opposed to, go to the GP, you know say arrgh (laugh) yeh youve got this or got that, or try this and come back in two weeks. Here you have a situation where the move has to be, to limit A & Es pressure so that they can actually deal with some of the actual serious issues rather than dealing with might be virus, might not be a virus.. that’s pretty much it.

KP: Ad do you have customers already lines up

GB: Yes (laugh)…Yes we do….I mean one of the actual major issues that we have is … we have already been working, and are working with a number of State entities .. erm ..and… Governments themselves…and the issue is not so much the treasury side of things, its actually….our ability to be able to supply eh...products in volume to sufficiently satisfy the demand. You know there is no point in no more than 5 or 6 at a time as we do at a time… that’s because of our limitations of mass production. Once we get to mass production level…we are quite satisfied that we will be able to roll them out very, very quickly to the parties that we are working with RIGHT NOW.

KP: And where will this mass production, where will it take place and when will they be ready for sale as well

GB: Ok, we have already actually indicated to the market back in August that our plan is to be able to have mass production level of at least 200 a month by April or May of 2022, and that is still well on track to enable us to do that, we are already passed the second iteration of this unit, for full automation , and …the components that we actually have, with Microsaic, its an existing component, and we have existing components that we bring in. Most of the actual existing components will be manufactured in China where they are already manufactured, and we will be assembling them in the South of Ireland in Fermoy in our facility, and also in an associates facility ….erm… which we will be announcing fairly soon. Erm… and again … its all got to do with the fact that (pause) we are maintaining the capability of actually having a Centre of excellence of the.. the manufacture of this very specific capability in Europe… and for …erm distribution in the US as well as distribution across Asia, certainly working with our Chinese partners

KP: And you already work with Aptamar and Microsaic so how does this expand that partnership exactly.

GB: Well back in February of last year we pulled together the ECO Water OS, the consortia of very large companies with footprints around the world for distribution of technology that we built within the small more scientific side of the consortia. And the Aptamar Group, and we have worked and still do continue to work with Avacta, the Aptamar group have been instrumental in helping us to expand quite rapidly, the range of pathogens that we can detect for our Microtox PD, and we, you know, are delighted to actually be able to expand upon that as part of this project.

Microsaic…The wonderful part about Microsaic is that they spent 19 years miniaturising base technology or detection technology, and most of that time they actually spent, you know after they has actually got this technology out trying to sell this, so they were selling a piece of kit into a specific market, where there were bigger pieces of kit. And a lot more marketing going into that. What we have done is actually take the technology that they have, and we…it has helped us to add and extra dimension…to include forever chemicals erm… and… other chemical contaminants in the water and in the soil that we are actually working with. And that has allowed us to miniaturise some of our technology equipment, and again this forms part of further development to get this to a design size, no more than the size of a... a small speaker on the side of your PC.

KP: Plenty to break down together, I mentioned it just then, so what I wanted to ask really is what this 0.75 million Euros cover, what will it be funding exactly and what will be happening with the rest of the 1.8million, how will it work exactly

GB: Yeah, so this is actually a 1.8million Euro project, umm, we opened the Centre of excellence back in may this year, in County Cork. That has now expanded and continues to expand, and with the demand that we actually have for the technology relating to the wastewater detection of pathogens. So we have bee working with …erm…the State funded enterprise, Enterprise Ireland for many, many months to assist us in accelerating…urm…the project itself, which is fast tracking what we had previously done, which was the first generation and the recent second generation of our wastewater Microtox PD units. Now, this gives us a greater scope, you know one of the actual great benefits that we actually do have…urm…within this organisation is access , and access to different…urm…arh..you know, State entities and the fact that the Irish government itself actually validates and its ..you know undertaken substantial due diligence to review the technology, that has actually seen and bvisit sites where the actual technology currently is, and , you know its great…I think if you see this morning, the UK Government actually has initiated a £243 million digitisation of diagnostics in the NHS, and that is where the world is actually moving to. There is a digitalisation that is actually the move from analogue to digital in diagnostics, because more and more people you can see, flood in to, A and E and the reality is that it cant cope, the system cat cope. And I am not talking about just the NHS, Im talking about od a global situation. You know that the population is growing and everything must move to an automated process in order for us to maintain this…this growth. And that is where this money is actually going to, digitalisation of diagnostics for wastewater detection of Covid, detection of viruses, detection of pepper mottle virus, which is actually a major crop destroying virus and again if you look at where we are with water, I mean, again in the UK (laugh) this..er this…sewage outpouring has been going on for decades, you its not something new, its just been more obvious of late, and the fear is that people actually have now, is that they want to know where and when and how they can avoid potential contaminant in water. That’s what this is about, that’s where this money is going.