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2 Mar 2017 07:00
ValiRx Plc
("ValiRx" or "the Company")
Director's Dealings
London, UK., 02 March 2017: ValiRx Plc (AIM: VAL), a clinical stage biotechnology company, is pleased to announce that as part of yesterday's placing to raise £1.16 million, certain directors of the Company subscribed for £30,000 through the issue of 1,200,000 new ordinary shares at a price of 2.5 pence per share ("Subscription Shares").
Dr Satu Vainikka, CEO, Dr George Morris, COO and Gerry Desler, FD have each subscribed equally and on the Subscription Shares admission to AIM, which is expected to occur on or around 15 March 2017, the above Directors will have the following interests in the Ordinary Shares of the Company:
Director | Number of shares acquired | Total number of shares held subsequent to the Placing
|
Satu Vainikka | 400,000 | 624,909 |
George Morris | 400,000 | 588,287 |
Gerry Desler | 400,000 | 541,875 |
Application will be made for the 1,200,000 new ordinary shares to be admitted to the London Stock Exchange on or around 15 March 2017. The new ordinary shares will rank pari passu with the existing ordinary shares. Following admission of the 1,200,000 new ordinary shares, the issued share capital of the Company will comprise of 133,356,114 ordinary shares.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
*** ENDS ***
For more information, please contact:
ValiRx plc | Tel: +44 (0) 20 3008 4416 www.valirx.com |
Dr Satu Vainikka, Chief Executive | Tel: +44 (0) 20 3008 4416 |
Tarquin Edwards, Head of Communications. | Tel: +44 (0) 7879 458 364 tarquin.edwards@valirx.com |
Mark Treharne, Corporate Development Manager | Tel: +44 (0) 7736 564 686 mark.treharne@valirx.com |
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray / Jo Turner | Tel: +44 (0) 20 7213 0880 |
Beaufort Securities Limited (Broker) Jon Belliss | Tel: +44 (0) 207 382 8300 |
Notes for Editors
ValiRx Plc
ValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in "precision" medicine and science, namely to engineer a breakthrough into human health and well-being, through the early detection of cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the company reduces risk considerably while increasing the potential for realising value. The group is already in licensing discussions with major players in the oncology field.
ValiRx's two classes of drugs in development, which each have the potential for meeting hitherto unmet medical needs by existing methods, have worldwide patent filings and agreed commercial rights. They originate or derive from Word class institutions, such as Cancer Research UK and Imperial College.
Until recently, cancer treatments relied on non-specific agents, such as chemotherapy. With the development of target-based agents, primed to attack cancer cells only, less toxic and more effective treatments are now possible. New drugs in this group-such as those in ValiRx's pipeline-promise to greatly improve outcomes for cancer patients.
The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.
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