Last checked at 13 Jul 2022 14:15
13 July 2022
ValiRx PLC ("ValiRx" or the "Company")
Successful evaluation of triple negative breast cancer programme
London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, is pleased to announce that the project subject to the Evaluation Agreement announced on 16 September 2021 has been successfully completed and the Company has notified the academic team and IP & Licensing team at King's College London ("King's"), that it wishes to proceed to full in-licensing.
The project was evaluated to confirm the impact of a peptide drug candidate against triple negative breast cancer. Over the past nine months, the candidate peptide was investigated with a battery of in vitro and in vivo tests by the Company, it has been concluded that there is good evidence of biological activity and a strong rationale for further development. In addition to triple negative breast cancer, the tests illustrated promising data against ovarian cancer cells. The novel mechanism of action may allow further expansion into additional hard to treat cancer types.
Commercial terms for progression have been pre-negotiated with King's such that the project will be placed into a subsidiary of ValiRx for the next stage of development. Documentation to support this is now under preparation.
Dr Suzy Dilly, CEO of ValiRx, commented:
"It's a really exciting step to confirm the first of our projects progressing from evaluation stage to full in-licensing. It has been a pleasure to work with both the scientific and IP & Licensing teams during this evaluation period, and we look forward to the relationship strengthening further during the preclinical development period."
The King's research is led by Professor Martin Ulmschneider, Professor of Computational Chemistry and the incoming Head of the Department of Chemistry who commented:
"Working together with ValiRx has been an incredible experience, and highlights the importance of finding great commercial partners that believe in translating new approaches from the laboratory towards clinical application for patient benefit. I am very excited about the journey forward with ValiRx."
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"). The Directors of the Company take responsibility for this announcement.
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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 (Joint Broker)
Russell Kerr/Michael Johnson (Sales)
Callum Davidson/Giles Balleny (Corporate Finance) | Tel: +44 (0) 20 7397 8900 |
Turner Pope Investments (Joint Broker) James Pope / Andy Thacker | Tel: +44 (0) 20 3657 0050
|
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 King's College London
Ranked as one of the top 10 UK universities in the world*, King's provides students with a place in one of the most connected and dynamic cities in the world. King's is London's most central university, with five campuses in the heart of the capital: a location which allows us to form and lead international conversations.
Our faculties, institutes and schools deliver world-leading research and have been enabling ground-breaking discoveries throughout our history. This research continues to underpin all of King's teaching so that we can help students realise their potential and work to make the world a better place.
*QS World University Rankings 2021
www.kcl.ac.uk
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.