Last checked at 12 Aug 2010 07:00
ValiRx Plc
("ValiRx" or "the Company")
ValiRx SIGNS LICENSING DEAL WITH CANCER RESEARCH TECHNOLOGY
TO DEVELOP PROSTATE CANCER TREATMENT
ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce that it has concluded a licensing agreement with Cancer Research Technology ("CRT") for the global commercial rights to the promising compound VAL 201 and to develop the compound into a treatment against hormone-resistant prostate cancer.
VAL 201 has been shown in prostate cancer models to stop the growth of tumours which have been unresponsive to hormone treatments. VAL 201 blocks the activity of another compound which can cause prostate cancer to develop. VAL 201 is now progressing towards the first clinical trials in patients.
Under the terms of the deal, ValiRx has exclusive development and commercialisation rights to VAL 201 in the diagnosis, treatment and prevention of cancer and other diseases. On completing an out-licensing deal for the compound, CRT will receive milestone payments and royalties on sales
Currently, prostate cancer is the most common cancer amongst men with 10,000 deaths each year in the UK alone. This cancer is diagnosed in 35,000 men each year in the UK; for those with an advanced stage of the disease, hormone therapy will work in 80%-90% of cases, although the effect of hormone therapy will reduce as patients become resistant to the treatment at some stage. This resistance does not appear to be related to the length of time a patient is receiving treatment.
The prostate cancer market was estimated to be worth $5.2 billion in 2008 and is projected to grow to $7.7 billion by 2015. Significant market opportunities exist for novel targeted treatment strategies that prolong survival, such as therapies for hormone refractory prostate cancer.
Under the terms of the licence with CRT, ValiRx will be responsible for performing the pre-clinical development and obtaining regulatory approval to take the compound into clinical trials in patients. ValiRx will manage the commercialisation and development of potential treatments .
Dr Satu Vainikka, CEO Valirx commented:
"This is a significant and exciting opportunity for ValiRx and we look forward to working with CRT in taking VAL 201 forward in its next stage of development as a potentially exciting treatment against prostate cancer."
Dr Phil L'Huillier, Cancer Research Technology's director of business management, said:
"This partnership demonstrates CRT's ability to maximise its broad network, having identified and licensed this project from Naples, and then in turn partnered it for further preclinical and clinical development with ValiRx. We will follow further trials to test its suitability as a new treatment to potentially increase survival from this disease with great interest."
Enquiries:
| ValiRx plc |
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| Dr. Satu Vainikka | Tel: +44 (0) 20 3008 4416 |
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| www.ValiRx.com |
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| WH Ireland Limited - Nominated Adviser |
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| Robin Gwyn | Tel: +44 (0) 161 832 2174 |
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| Hybridan LLP - Broker |
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| Claire Noyce | Tel: +44 (0) 207 947 4350 |
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| Peckwater PR
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| Tarquin Edwards | Tel: +44 (0)7879 458 364 |
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| tarquin.edwards@peckwaterpr.co.uk |
Notes for Editors
ValiRx Plc
ValiRx Plc is a biopharmaceutical company developing novel technologies and products in oncology therapeutics and diagnostics. The product focus is in the epigenomic analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.
The Company listed on AIM in October 2006 and is creating a portfolio of innovative products through investment in specific development projects. It actively manages projects within this portfolio as a trading company and is not an investment vehicle. The ValiRx business model spreads the risks of life science technology developments by minimising financial exposure and running a set of projects to defined commercial endpoints. This maximises returns to shareholders by adding value at the earlier stages where value increases per investment unit are the greatest.
The Company operates through the following divisional companies:
·; ValiMedix is the sales and distribution division of ValiRx
·; ValiBio is the diagnostic research and development division of ValiRx
·; ValiPharma is the therapeutics division with two embedded technologies primarily directed at the treatment of cancers. Of particular note is GeneICE, ValiRx's technology for controlling rebellious genes, which was awarded a Eurostars grant to the value of €1.2 million to fund the development of the GeneICE products through preclinical stages in cancer treatments
About Cancer Research Technology
Cancer Research Technology Limited (CRT) is a specialist commercialisation and development company, which aims to develop new discoveries in cancer research for the benefit of cancer patients. 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. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world.
CRT's discovery laboratories build on exploratory research to create attractive commercial opportunities through collaboration with research institutes worldwide. Therapeutic programmes are then out-licensed for further development following identification of a suitable partner.
For more information visit www.cancertechnology.co.uk
About Cancer Research UK
·; Cancer Research UK is the world's leading charity dedicated to beating cancer through research.
·; The charity's groundbreaking work into the prevention, diagnosis and treatment of cancer has helped save millions of lives. This work is funded entirely by the public.
·; Cancer Research UK has been at the heart of the progress that has already seen survival rates double in the last forty years.
·; Cancer Research UK supports research into all aspects of cancer through the work of more than 4,800 scientists, doctors and nurses.
·; Together with its partners and supporters, Cancer Research UK's vision is to beat cancer.