ValiRx PLC Convertible Loan Facility (8716Q)

TIDMVAL

RNS Number : 8716Q

ValiRx PLC

02 December 2016

ValiRx Plc

("ValiRx" or "the Company" or "the Group")

Convertible Loan Facility

London, UK., 02 December 2016: ValiRx Plc (AIM: VAL), a life science company, which focuses on clinical stage cancer therapeutic development, taking proprietary & novel technology for precision medicines towards commercialisation and partnering, announces that it has drawn down the Second Tranche of its Convertible Loan Facility (announced on 02 September 2016) with YA Global Master SPV Ltd ("Yorkville") for the amount of US$1,250,000.

The monies raised will be used to further progress the development of ValiRx's clinical trial programmes.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

*** ENDS ***

For more information, please contact:

 
 ValiRx plc                                 Tel: [phone] 
                                             4416 
                                             www.valirx.com 
 Dr Satu Vainikka, Chief Executive          Tel: [phone] 
                                             4416 
 Tarquin Edwards, Head of Communications.   Tel: [phone] 
                                             458 364 
                                             [e-mail] 
 Mark Treharne, Corporate Development       Tel: [phone] 
  Manager                                    564 686 
                                             [e-mail] 
 
 Cairn Financial Advisers LLP               Tel: [phone] 
  (Nominated Adviser)                        0880 
 Liam Murray / Jo Turner 
 
 Beaufort Securities Limited                Tel: +44 (0) 207 
  (Joint Broker)                             382 8300 
 Jon Belliss 
 
 Northland Capital Partners                 Tel: +44 (0) 203 
  Limited (Joint Broker)                     861 6625 
 John Howes / Abigail Wayne 
  (Broking) 
 
 

Notes for Editors

ValiRx Plc

ValiRx is a biotechnology oncology focussed 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 Word 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 02, 2016 11:15 ET (16:15 GMT)