Last checked at 15 Feb 2007 07:00
For release: 07:00 - 15th February 2007
VALIRX PLC ("ValiRx" or the "Company") Physiomics plc Agreement
ValiRx (AIM: VAL), the cancer therapeutics company, today announces that it has signed a new agreement with Physiomics plc ("Physiomics") (AIM: PYC), the European systems biology simulation company, to use Physiomics' In Silico simulations of cellular processes to reduce the development time and costs associated in identifying new therapeutic compounds for the treatment of cancers.
ValiRx's subsidiary, Cronos Therapeutics Limited - developers of GeneICE - will be the first ValiRx entity to use Physiomics' technology.
It is anticipated that by coupling GeneICE's ability to act on genes directly with the predictive capacity of Physiomics' modeling expertise in biological systems, it will be possible to optimise the development of possible therapies in terms of time and cost.
Dr Paul Harper, a Director of Physiomics, said:
"We look forward to deploying our simulation models to help predict and select the optimal targets for ValiRx's break-through GeneICE technology."
Dr Satu Vainikka, CEO of ValiRx, added:
"Correct target selection at the outset is critical to reducing the time spent - and often lost - in the clinical trial process. We view our relationship with Physiomics as important."
The primary concentration of the initial programme will be to investigate the process of Apoptosis (the natural process of programmed cell death and turnover) - a process that is frequently disrupted in Cancers.
Contact Details: ValiRx plc WH Ireland Physiomics plc GTH Communications Dr Satu Vainikka David Youngman Dr Paul Harper Toby Hall / Jade Mamarbachi +44 (0) 207 408 +44 (0) 161 832 +44 (0) 7747 +44 (0) 20 7153 8035 5400 2174 842446 --- ENDS ---
Information on ValiRx plc
ValiRx is a biopharmaceutical development company that is building a portfolio of complementary cancer-related therapeutic and diagnostic technologies. It currently holds stakes in Cronos Therapeutics Limited and Morphogenesis Inc:
* Cronos Therapeutics Limited holds licenses to two innovative and potentially market changing technologies, GeneICE and HyperGenomics. The Company has been informed by the European Patent Office that it is to receive the granting of a patent for its GeneICE cancer technology. * Morphogenesis Inc. is developing a portfolio of cell therapy products for the treatment of chronic disorders. Its most advanced product is ImmuneFx¢â€ž¢ for which it recently received a patent from the US patent office.
ValiRx is headquartered in London, England.
About Physiomics plc
Physiomics plc (AIM:PYC) is a computational systems biology services company applying simulations of cell behaviour to drug development to reduce the high attrition rates of clinical trials. As 80-90 per cent. of all clinical drug candidates fail to reach the market, estimates show that an overall ten per cent. improvement in success rates could reduce the cost of one drug's development by as much as $242 million, from the current estimate of around $800 million.
Physiomics is currently focused on optimising the design of cancer clinical trials as a service to major pharmaceutical companies. Physiomics has a major collaboration with Bayer Technology Services GmbH to develop globally clinical response prediction services using both companies' proprietary technologies and mathematical cell models, including the SystemCell‚® technology developed by Physiomics. In June 2005, Physiomics became a distributor of Bayer's KSim‚® product for understanding the way pharmaceuticals are distributed round the body. Physiomics, based in Oxford, UK, was founded in 2001, and floated on AIM in 2004. For further information, please visit www.physiomics-plc.com
SystemCell is a registered trademark of Physiomics plc
PHYSIOMICS PLC