Last checked at 16 Sep 2021 07:00
16 September 2021
ValiRx PLC ("ValiRx" or the "Company")
Commences new Evaluation Agreement
ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, has entered an Evaluation Agreement with a leading London university to investigate a novel technology designed to treat breast cancer.
Under the agreement, the Company will carry out a defined series of preclinical tests on the drug candidate molecule over the next nine months to validate the technology and determine suitability for commercialisation. This preclinical evaluation, the cost of which will be borne by ValiRx up to £75,000, will investigate the action of the molecule against Triple Negative Breast Cancer and other indications.
At the conclusion of the evaluation period the Company has an option to license the technology on pre-agreed terms.
Dr Suzy Dilly, CEO of ValiRx commented "I'm delighted to have secured our next evaluation programme, which, if successful, will achieve the dual objective of building a pipeline in both women's health and oncology. We are also delighted that the Principal Investigator of this exciting technology is keen to remain actively involved in the next stages of development."
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").
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For more information, please contact:
ValiRx plc
Dr Suzanne Dilly, CEO
| Tel: +44 (0) 2476 796496 www.valirx.com Suzanne.Dilly@valirx.com |
Cairn Financial Advisers LLP (Nominated Adviser)
Liam Murray/Jo Turner/Ludovico Lazzaretti
| Tel: +44 (0) 20 7213 088 |
Cenkos Securities Limited (Broker)
Russell Kerr/Michael Johnson (Sales)
Callum Davidson/Giles Balleny (Corporate Finance) | Tel: +44 (0) 20 7397 8900 |
Notes for Editors
About ValiRx
ValiRx accelerates the development of treatments in oncology and women's health to improve patient lives. We provide the scientific, financial and commercial framework towards enabling rapid translation of innovative science into clinical development.
With our extensive and proven experience in research and drug development, we select and incubate promising novel drug candidates and guide them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.
Integrating science and business
We connect diverse disciplines across scientific, technical and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. We work closely with our selected collaborators and leverage the combined expertise required for science to advance.
Lead candidates from our portfolio are out-licensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation. https://www.valirx.com/
The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.
About Breast Cancer
Breast Cancer is any cancer that originates in breast tissue. Over 50,000 cases of Breast Cancer are identified in the UK every year, with over 99% of these in women.
Breast Cancer is identified by type, with the biochemical characteristics of the cancerous cells allowing doctors to assess the best course of treatment for the patient. Cells can display receptors that allow them to respond to hormones such as Estrogen, Progesterone and the HER2 protein. These receptors provide a target for treatments to work against the cancer. In triple negative breast cancer which accounts for around 15% of breast cancers, these receptors are not present on the cell, so treatment options are more limited, and prognosis poorer.
Cautionary statement
Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.