ValiRx PLC Director/PDMR Shareholding (2914Y)

TIDMVAL

RNS Number : 2914Y

ValiRx PLC

02 March 2017

ValiRx Plc

("ValiRx" or "the Company")

Director's Dealings

London, UK., 02 March 2017: ValiRx Plc (AIM: VAL), a clinical stage biotechnology company, is pleased to announce that as part of yesterday's placing to raise GBP1.16 million, certain directors of the Company subscribed for GBP30,000 through the issue of 1,200,000 new ordinary shares at a price of 2.5 pence per share ("Subscription Shares").

Dr Satu Vainikka, CEO, Dr George Morris, COO and Gerry Desler, FD have each subscribed equally and on the Subscription Shares admission to AIM, which is expected to occur on or around 15 March 2017, the above Directors will have the following interests in the Ordinary Shares of the Company:

 
 Director             Number       Total number 
                   of shares          of shares 
                    acquired    held subsequent 
                                 to the Placing 
---------------  -----------  ----------------- 
 Satu Vainikka       400,000            624,909 
---------------  -----------  ----------------- 
 George 
  Morris             400,000            588,287 
---------------  -----------  ----------------- 
 Gerry Desler        400,000            541,875 
---------------  -----------  ----------------- 
 

Application will be made for the 1,200,000 new ordinary shares to be admitted to the London Stock Exchange on or around 15 March 2017. The new ordinary shares will rank pari passu with the existing ordinary shares. Following admission of the 1,200,000 new ordinary shares, the issued share capital of the Company will comprise of 133,356,114 ordinary shares.

This announcement is inside information for the purposes of Article 7 of 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 
  (Broker)                                   382 8300 
  Jon Belliss 
 

Notes for Editors

ValiRx Plc

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 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

END

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March 02, 2017 02:01 ET (07:01 GMT)