ValiRx Regulatory News (VAL)

13 Feb 2008 07:55

For immediate release: 13.02.2008

VALIRX PLC ("ValiRx" or the "Company") ValiRx and Clarity Imaging International Inc Sign Letter of Intent

ValiRx (AIM: VAL), the cancer therapeutics company, is pleased to announce that it has signed a Letter of Intent with Clarity Imaging International Inc. ("Clarity"), the medical diagnostic and imaging technology company, to secure the distribution rights Clarity holds for the human papillomavirus (HPV) Geneotype Diagnostic Test Kit for the European Economic Area and Switzerland.

HPV infection is associated with nearly all cases of cervical cancer, the second most common cancer in women after breast cancer, affecting more than 400,000 women worldwide each year.

According to information published in USA Today (13.10.07), HPV screening has already been shown to be a superior method to current PAP smear tests for identifying cervical pre-cancers. Cervical cancer is commonly caused by "high-risk" types of the human papillomavirus.

The HPV Geneotype Diagnostic Test Kit over which ValiRx is to secure EEA and Swiss distribution rights, currently tests for 39 subtypes of HPV.

Dr Satu Vainikka, CEO of ValiRx, commented:

"We are delighted to have entered this agreement. The HPV Test Kit is a proven piece of technology that provides a preventive, predictive, and prognostic test that can be rapidly introduced to the market. We believe the market demand will be significant."

According to Leerink Swann & Co, Boston, the HPV diagnostic market is set to become a billion dollar market in the coming years and is currently estimated to be worth USD150 million.

--Ends-- About ValiRx plc

ValiRx is a biopharmaceutical development company that is building a portfolio of complementary cancer-related therapeutic and diagnostic technologies. It currently holds a worldwide exclusive license for Nucleosomics, the early stage oncology diagnostics technology, and has majority stakes in Cronos Therapeutics Ltd and ValiBIO SA:

* Cronos holds worldwide exclusive licenses to two innovative and potentially market changing technologies, GeneICE and HyperGenomicsTM, and is developing further novel cancer therapies; * ValiBIO SA is a Belgium joint venture between ValiRx and BIO.be focusing on the development and commercialisation of products in the epigenomics sector, the first products to be put into development being HyperGenomics and Nucleosomics. ValiRx has a 77% majority holding in the company. ValiRx is headquartered in London, England. Further information can be found atwww.valirx.comContact Details: ValiRx Plc WH Ireland GTH Communications Dr Satu Vainikka David Youngman Toby Hall / Brooke Paul +44 (0) 203 008 4416 +44 (0) 161 832 +44 (0) 20 7153 8035 2174