Last checked at 31 Jan 2019 07:00
VALIRX PLC
("ValiRx", the "Company" or the "Group")
RUSSIAN FEDERATION & CHINESE PATENT GRANT ALLOWANCES FOR THERAPEUTIC COMPOUND, VAL301
London, UK., 31 January 2019: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, announces that the Patent Offices of the Russian Federation and China have both granted a patent allowance for ValiRx's pre-clinical therapeutic compound, VAL301, subject to payment of the relevant fees.
The compound has been developed for the treatment of hormone-induced, non-oncological abnormal growth and cell proliferation conditions. These include indications for endometriosis and benign prostatic hyperplasia, for both of which there is substantial global unmet medical need.
These latest patent allowances provide protection for ValiRx for these indications in two of the world's most populous nations and they follow on from ValiRx's earlier receipt last year of a US Patent Grant (announced 17 July 2018).
Dr Satu Vainikka, CEO of ValiRx plc, commented: "The patent portfolio and trial results are the main assets and value drivers for any small biotechnology company, such as ValiRx and I am pleased that our global patent protection is now so strong."
"These patent grant allowances are a further endorsement for VAL301. The pre-clinical and clinical development of the compound will benefit considerably from the earlier strong progress seen in the Phase I/II clinical trial of our prostate cancer therapeutic, VAL201, from which VAL301 is derived".
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For more information, please contact:
ValiRx plc | Tel: +44 (0) 20 3008 4416 www.valirx.com |
Dr Satu Vainikka, Chief Executive | Tel: +44 (0) 20 3008 4416 |
Tarquin Edwards, Head of Communications. | Tel: +44 (0) 7879 458 364 tarquin.edwards@valirx.com |
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray / Jo Turner | Tel: +44 (0) 20 7213 0880 |
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Novum Securities Limited Colin Rowbury | Tel: +44 (0) 20 7399 9400 |
Notes for Editors
About ValiRx
ValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in "precision" medicine and science, namely to engineer a breakthrough into human health and well-being, through the early detection of cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the company reduces risk considerably while increasing the potential for realising value. The group is already in licensing discussions with major players in the oncology field.
ValiRx's two classes of drugs in development, which each have the potential for meeting hitherto unmet medical needs by existing methods, have worldwide patent filings and agreed commercial rights. They originate or derive from World class institutions, such as Cancer Research UK and Imperial College.
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. New drugs in this group-such as those in ValiRx's pipeline-promise to greatly improve outcomes for cancer patients.
The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.