Last checked at 28 Nov 2019 07:00
VALIRX PLC
("ValiRx", the "Company" or the "Group")
US PATENT GRANT
FOR THE USE OF VAL201 IN THE PREVENTION AND TREATMENT
OF METASTATIC CANCER
London, UK., 28 November 2019: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, announces that the US Patent and Trademark Office has granted the US Patent No. 10,400,008 and title: "Modulators Of The SRC-Kinase Activity For Preventing Or Treating Metastatic Cancer", to the Company's lead therapeutic compound, VAL201. The grant provides patent protection for a method of preventing the worsening of symptoms of a metastatic cancer, reducing the progression of a metastatic cancer, or treating a metastatic cancer (including prostate cancer) by administration of the VAL201 peptide. This follows the Company's earlier announcement on 26 June 2019, regarding its receipt of a US Patent Notice of Allowance for the use of VAL201 in the prevention and treatment of metastatic cancer.
Metastatic cancer is classified when the disease spreads beyond the primary tumour to other parts of the body. This spread is known as metastatic disease and in prostate cancer it commonly spreads to the bones and lymph nodes. The main goals for treatment of metastatic cancer are symptom control, slowing or stopping the rate at which the cancer grows, as well as targeting the underlying cancer.
ValiRx's VAL201 compound selectively prevents tumour growth by specifically inhibiting the proliferation of tumour cells. Its inhibitory effects on lymph node metastases have been demonstrated in pre-clinical prostate cancer models. The compound is currently in a Phase I/II study primarily assessing the safety and tolerability of VAL201 and its effect in the treatment of prostate cancer and other solid tumours. The trial of VAL201 has met its endpoints very well and the Company is now able to use the peptide in demonstrating the efficacy of the compound as a therapeutic product, addressing what is currently a poorly-served, yet very substantial commercial market.
Dr Satu Vainikka, CEO of ValiRx, commented: "Since all primary cancers will metastasise and can spread anywhere around the body at some point, this US patent grant, covering one of our largest commercial markets, represents a key addition to our patent coverage and protection for this indication. I look forward to the further development of the VAL201 compound and the validation of its potential anti-cancer impact".
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 / Ludovico Lazzaretti | Tel: +44 (0) 20 7213 0880 |
Allenby Capital Limited (Joint Broker) Jeremy Porter / Alex Brearley (Corporate Finance) Kelly Gardiner (Equity Sales) | Tel: +44 (0) 20 3328 5656
|
Novum Securities Limited (Joint Broker) 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.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.