ValiRx Regulatory News (VAL)

11 Dec 2007 07:00

For immediate release: 11th December 2007

VALIRX PLC ("ValiRx" or the "Company") ValiBIO Update

Following the announcment on 19 July 2007, ValiRx Plc (AIM: VAL), the cancer therapeutics company, is pleased to announce that the founders' shareholder agreement ("the Agreement") for ValiBIO S.A ("ValiBIO"), the research and commercialisation company focused on the epigenomics sector, has been signed between the Company and BIO.be ("BIO"), the commercial outlet of the Institute of Pathology and Genetics ("IPG"), a leading pathology centre in Belgium.

Through the Agreement, ValiBIO will benefit from an initial cash investment commitment from BIO; the appointment of key BIO personnel including IPG/BIO's highly regarded Dr Jean-Michel Debry as Chief Scientific Officer; and use of state-of-the-art laboratory and equipment, ValiBIO's offices being located within IPG.

Under the Agreement, ValiRx retains a 77% holding in ValiBIO.

Dr Satu Vainikka, CEO of ValiRx, commented:

"We are delighted to have signed this Agreement as it allows the further development and commercialisation activity of two key technologies that ValiRx holds licenses on - HyperGenomicsTM and NucleosomicsTM - to take place in an environment of acknowledged excellence. We are also encouraged by the additional regional grant support that is potentially available to R&D companies in the Walloon Region"

Patrick J. Rousseau, CEO of ValiBIO, added:

"This joint-venture will dramatically benefit from IPG/BIO end user's expertise and for diagnostics tools development and validation. Additionally, the setting of our R&D laboratory within the IPG facility in Gosselies will significantly contribute reaching high quality standards."

Mr Bernard Morelle head of the IPG / BIO group, said:

"We are delighted progressing in the extension of our partnership with ValiRx in this exciting opportunity and look forward to implementing our collaboration through R&D projects and commercial development."

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About ValiRx plc

ValiRx is a biopharmaceutical development company that is building a portfolio of complementary cancer-related therapeutic and diagnostic technologies. It currently holds a worldwide exclusive license for Nucleosomics, the early stage oncology diagnostics technology, and has majority stakes in Cronos Ltd and ValiBIO SA:

* Cronos holds worldwide exclusive licenses to two innovative and potentially market changing technologies, GeneICE and HyperGenomicsTM, and is developing further novel cancer therapies; * ValiBIO SA is a Belgium joint venture between ValiRx and BIO.be focusing on the development and commercialisation of products in the epigenomics sector, the first products to be put into development being HyperGenomics and Nucleosomics. ValiRx has a 77% majority holding in the company.

ValiRx is headquartered in London, England. Further information can be found at www.valirx.com

Information on IPG

Started in 1958 by Dr Claude Fievez, IPG has grown into a renowned institute specialising in media diagnosis relating to pathology, cytogenetics, molecular biology and molecular microbiology. BIO.be is a limited member of the IPG group.

There are over 200 people that work at IPG, providing almost 300,000 specialised analyses every year.

For further information, please visit www.ipg.be

Contact Details: ValiRx Plc GTH Communications Satu Vainikka Toby Hall / Jade Mamarbachi +44 (0) 203 008 4416 +44 (0) 20 7153 8035