Last checked at 29 Apr 2016 07:00
29 April 2016
ValiRx Plc
("ValiRx" or "the Company")
ValiSeek Update
"Notification of US Patent Grant for VAL401"
ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce that ValiSeek Limited ("ValiSeek"), the joint venture between ValiRx and Tangent Reprofiling Limited ("Tangent"), has received notification today from Tangent that a US patent covering the use of VAL401 as a treatment for adenocarcinoma has been allowed by the US patent office.
Adding to the earlier US patent grant covering the composition of formulation for VAL401, as announced on 14 May 2015, the directors of ValiSeek believe this announcement to be further validation of the innovative scientific foundation behind and supporting the VAL401 project just as the up coming clinical trial has been designed to provide validation of the clinical applicability.
Dr Suzanne Dilly, CEO of ValiSeek Limited, commented: "This further US patent has been allowed at an opportune moment as we progress through our clinical trial preparations. At such a late stage in our preparations of the Clinical Trial for VAL401 the fact that the compound is now in receipt of additional IP protection, adds value to shareholder funds and further endorses our joint venture."
Dr Satu Vainikka, CEO of ValiRx plc, added: "This is a powerful confirmation of the science lieing behind VAL401 and I very much look forward to following VAL401 on its clinical trial pathway."
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For further information on the Company, visit: www.valirx.com:
ValiRx plc | Tel: +44 (0) 20 3008 4416 |
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 |
Mark Treharne, Corporate Development Manager | Tel: +44 (0) 7736 564 686 mark.treharne@valirx.com |
Cairn Financial Advisers LLP (Nominated Adviser) | Tel: +44 (0) 20 7148 7900 |
Liam Murray | |
Northland Capital Partners Limited (Broker) | Tel: +44 (0) 20 7382 1100 |
Patrick Claridge / David Hignell (Corporate Finance) John Howes / Abigail Wayne (Broking) |
Notes for Editors
About ValiSeek
ValiSeek Limited ("ValiSeek") is a joint venture ("JV") company between ValiRx Plc and Tangent Reprofiling Limited, part of the SEEK Group. ValiSeek was formed to progress the drug VAL401 through its remaining preclinical development and towards Phase II trials for the treatment of lung cancer and other oncology indications
About SEEK
Founded in 2004, SEEK (previously known as PepTcell) is privately-owned and funded, with headquarters in London, UK. SEEK brings safe and low costs medicines to the patients as quickly as possible. It does this by modifying existing medicines to improve their efficacy within current label, dose and regime, by changing the indication but keeping the dose and dosing regime the same or by creating a new medicine when the previous options are unavailable.
Additional information about SEEK is available on the Company's website located at www.seekacure.com.
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 has undertaken to develop a novel and groundbreaking class of therapeutics across a number of fields in oncology and has taken its lead compound, Val201, into Phase I/II clinical trials. The Company listed on the Alternative Investment Market ("AIM") of the London Stock Exchange in October 2006.
The Company has a pipeline of other therapeutic drugs, which are currently progressing towards clinical trials. The product focus is in the targeted analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.
It actively manages projects within its portfolio as a trading company. The ValiRx business model spreads the risks of life science technology development 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:
1. ValiPharma is the therapeutics division, with two embedded technologies primarily directed at the treatment of cancers.
2. ValiFinn is the biomarkers and diagnostic development division. ValiRx acquired through its ValiFinn subsidiary, the complimentary TRAC technology later in the year to strengthen the portfolio.
3. ValiSeek is a joint venture between ValiRx and Tangent Ltd to develop Val401 in lung cancer and potentially other indications.