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23 Jan 2008 07:00
For immediate release 0700hrs 23rd January 2008
VALIRX PLC ("ValiRx" or the "Company") Morphogenesis Update
ValiRx (AIM: VAL), the cancer therapeutics company, today provides an update on Morphogenesis Inc ("Morphogenesis"), the privately-held US biotechnology company in which the Company holds an 8.2% stake.
ValiRx is pleased to report that Morphogenesis is planning to accelerate the production of its US-patented cancer vaccine, ImmuneFx¢â€ž¢, for pet animals. The vaccine is currently in late stage pre-clinical trials and is expected to be ready for clinical Phase I filing within a year. The market for pet cancer vaccines in both Europe and the US is potentially significant with Morphogenesis estimating that the canine lymphosarcoma market in the US alone would be in excess of $200 million a year.
In addition, ValiRx is able to report that the Morphogenesis advanced cell separator prototype, Polymer-Antibody Cell Separation ("PACS") for the separation and purification of rare cells including stem cells and circulating tumour cells, has progressed to the testing and validation stage. An important feature of this technology is the cell separation method. Unlike existing devices on the market, the patented antibodies in PACS are coated with a polymer that has no affinity for rare cells; this is to optimise their separation from unwanted cells, making their collection a more efficient procedure. With particular relevance to the oncology and tissue and organ repair markets, PACS has a role in diagnostic, therapeutic and research applications. The cell therapy market is forecast to reach US$30 billion by 2010.
Dr Satu Vainikka, CEO of ValiRx and non-executive director of Morphogenesis, said:
"Morphogenesis has made significant progress over the last year in two of its key technology areas with both potentially leading to early revenues for the business. We look forward to updating the market on these developments as they occur."
Dr. Vainikka was re-appointed to the Board of Morphogenesis following its AGMon the 14 of January 2008. --Ends-- About ImmuneFx¢â€ž¢
The ImmuneFx¢â€ž¢ cancer vaccine capitalises on the ability of bacterial antigens to evoke a strong immune response and the ability of the patient's immune system to respond to the presence of the bacterial antigens by directing the force of the immune system specifically to the tumour. Typically, cancer cells do not normally evoke an immune response that is effective in preventing the formation of tumours.
About Morphogenesis
Founded in 1996, Morphogenesis is developing a portfolio of cell therapy products for the treatment of chronic disorders. Its most advanced product, ImmuneFx, has the potential to provide cancer vaccine solutions that target tumours in both humans and pets.
ValiRx holds 1,806,700 ordinary shares and 250,000 warrants in Morphogenesis Inc.
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 ("Cronos") 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 / Jade Mamarbachi +44 (0) 203 008 4416 +44 (0) 161 832 +44 (0) 20 7153 8035 2174
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