Last checked at 6 Jul 2020 07:00
VALIRX PLC
("ValiRx", the "Company" or the "Group")
CORPORATE UPDATE
London, UK, 06 July 2020: ValiRx (AIM:VAL) announces the launch of the new corporate strategy and its newly updated corporate website - www.valirx.com
ValiRx intends to build on its existing portfolio of drug candidates and grow a pipeline of innovative, early-stage projects in the areas of oncology and women's health. The Company plans to apply both intellectual and financial resources to each project and enable acceleration through pre-clinical development.
It is intended that new projects will be held in newly formed subsidiaries ("Special Purpose Vehicles" or "SPVs") with the Company seeking external funding from partners to progress development towards clinical trials. ValiRx will provide the SPVs with corporate and project management support, being reimbursed accordingly. In the longer term, it is the objective that the incubation of early stage drug discovery projects become self-sustaining, with income from SPVs being used to support the working capital requirement of ValiRx and provide investment funding for further in-licensing.
Dr Suzy Dilly, Chief Executive Officer commented "We've shifted the development paradigm for ValiRx to earlier in the drug discovery process. This is intended to maximise the impact that our intellectual and financial contribution can make. With flexibility of thinking, small biotechnology incubator companies, supported by ValiRx, are ideally placed to perform the innovative early stage development work, and, rather than carrying out costly, time-consuming clinical trials ourselves, we will seek to have project partners prior to clinical testing.
We believe this strategy to be appropriate in the current financial and scientific environment, and invite academics, other biotechnology companies with early stage projects and any other innovators to present their early stage drug discovery projects to us for consideration."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For more information, please contact:
ValiRx plc | Tel: +44 (0) 20 7073 2628 www.valirx.com |
Suzanne Dilly | Suzanne.Dilly@valirx.com |
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray / Jo Turner / Ludovico Lazzaretti | Tel: +44 (0) 20 7213 0880 |
Peterhouse Capital Limited (Sole Broker) Duncan Vasey / Lucy Williams / Eran Zucker | Tel: +44 (0) 20 7469 0930 |
Notes for Editors
About ValiRx
ValiRx PLC accelerates the development of innovative medicines that enhance patient experience. We do this by combining intellectual and financial resources to select, progress and partner a balanced portfolio of risk-reduced, early-stage technologies for translation into clinical candidates.
The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.