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19 May 2020 14:00
VALIRX PLC
("ValiRx", the "Company" or the "Group")
GROUP PROJECTS SUMMARY PUBLISHED ON WEBSITE
BOARD EXPANSION PLANS
London, UK, 19 May 2020: Following the recent substantial changes to the board, ValiRx (AIM:VAL) are reviewing all corporate functions, including the scientific programs, strategic direction of the Company and composition of the Board.
The review of scientific programs is available to download at:
https://www.valirx.com/wp-content/uploads/2020/05/Valirx-Scientific-Program-Review-19th-May-2020.pdf
This review presents a summary statement of each project, with the headlines as detailed below:
· CLINICAL PROJECT: VAL201 headline results anticipated by end Q3 2020.
The full Clinical Study Report is required to be submitted to the regulators by January 2021 (one year after trial closure), with headline results currently expected to be available for public release by the end of Q3 2020. Prior to release of results, data must be verified at source from hospital records - therefore, lockdown restrictions due to the current pandemic may further impact these timings.
· CLINICAL PROJECT: VAL401 as announced on 14 January 2020, VAL401 is the subject of a LOI with Black Cat Bio Limited for future funding. It is anticipated that this funding and associated licensing will be completed by end of Q3 2020.
· PRECLINICAL PROJECT: VAL301 scientific evaluation by a Japanese pharmaceutical company announced on 1 May 2020.
· NON-CORE PRECLINCIAL PROJECTS: under consideration for joint venture or similar arrangement, as announced on 29 April 2020.
A process to appoint a new non-executive Chairman of the Board is underway. Subject to regulatory background checks, it is anticipated that a new Chairman will be in place prior to the 2020 AGM.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
*** ENDS ***
For more information, please contact:
ValiRx plc | Tel: +44 (0) 20 7073 2628 www.valirx.com |
Kevin Alexander |
|
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 is a biotechnology oncology focused company specialising in developing novel treatments for cancer.
The Company's business model focuses on identifying and in-licensing early stage projects, adding value through scientific development and then out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the Company reduces risk while increasing the potential for realising value.
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.
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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