ValiRx Regulatory News (VAL)

14 May 2007 07:00

Embargoed: 07:00 - 14th May 2007

VALIRX PLC ("ValiRx" or the "Company") Cancer Research Technology & Cronos Therapeutics - extends scope of agreement -

ValiRx (AIM: VAL), the cancer therapeutics company, today announces the extension of the scope of the agreement between its subsidiary, Cronos Therapeutics Ltd ("Cronos"), and Cancer Research Technology Limited ("CRT"), the specialist oncology development and commercialisation company owned by Cancer Research UK. The extended agreement allows for three new potential GeneICE compounds to be added to the collaboration with CRT in addition to the original compound. The GeneICE compounds under review by CRT could be relevant to the treatment of five cancers: ovarian, prostate, testicular, breast and pancreatic.

The collaboration is investigating the potential of GeneICE compounds to halt the development and growth of cancerous cells by preventing the transcription of specific genes involved in tumourigenesis.

The three new compounds are novel experimental GeneICE molecules. Under the terms of the agreement, key cellular experiments to explore the therapeutic potential of the new GeneICE molecules will be conducted in parallel with the existing GeneICE programme at the Cancer Research UK Clinical Centre at St Bartholomew's Hospital and The Royal London Hospital.

Dr Satu Vainikka, CEO of ValiRx, commented:

"This represents a significant development in our relationship with CRT - and whilst further significant research needs to be done, we clearly recognise the commercial opportunities that could arise given that the Company holds the worldwide exclusive licence for the development and commercialisation of GeneICE compounds."

Dr Phil L'Huillier, CRT's Director of Business Management, added:

"We are delighted to be extending the scope of our GeneICE research activity and facilitating a better understanding of the potential role GeneICE compounds can play in the treatment of a broad range of cancers."

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Notes to Editors:

Cronos' GeneICE technology enables the selective silencing of specific genes in humans and animals by targeted histone deacetylation leading to chromatin condensation.

Information on Cancer Research Technology Limited

CRT is a specialist technology transfer company which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world. CRT works closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners. CRT facilitates the discovery, development and marketing of new cancer therapeutics, vaccines, diagnostics and enabling technologies. Further information about CRT can be found at www.cancertechnology.com

Information on Cancer Research UK

Together with its partners and supporters, Cancer Research UK's vision is to beat cancer. The charity carries out world-class research to improve understanding of the disease and find out how to prevent, diagnose and treat different kinds of cancer. It ensures that its findings are used to improve the lives of all cancer patients. Cancer Research UK helps people to understand cancer, the progress that is being made and the choices each person can make. The charity works in partnership with others to achieve the greatest impact in the global fight against cancer. For further information about Cancer Research UK's work or to find out how to support the charity, please call +44 (0)20 7009 8820 or visit www.cancerresearchuk.org

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 and Morphogenesis Inc;

* Cronos holds licenses to two innovative and potentially market changing technologies, GeneICE and HyperGenomics; * Morphogenesis Inc. is developing a portfolio of cell therapy products for the treatment of chronic disorders. Its most advanced product, being ImmuneFx¢â€ž¢ for which it recently received a patent from the US patent office.

ValiRx is headquartered in London, England.

Contact Details: ValiRx Plc WH Ireland GTH Communications Dr Satu Vainikka David Youngman Toby Hall / Jade Mamarbachi +44 (0) 203 008 4416 +44 (0) 161 832 +44 (0) 20 7153 8035 2174