ValiRx PLC GeneICE & VAL101 Update (0317Q)

TIDMVAL

RNS Number : 0317Q

ValiRx PLC

07 September 2017

ValiRx Plc

("ValiRx" or the "Company")

GENEICE & VAL101 UPDATE

"Successful optimisation of VAL101 for improved commercial production"

"Acceleration of pre-clinical studies"

London, UK., 07 September 2017: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, is pleased to report on a period of continued good progress in the development of its GeneICE technology platform ("GeneICE" or "Gene inactivation by chromatin engineering"), in which "rebellious genes", which cause problems such as cancer and potentially some neurological problems, are shut down or "put on ice".

ValiRx has a world-wide exclusive license from Imperial College for the GeneICE technology and for any resulting products, in addition to newly generated intellectual property rights.

ValiRx is leading a consortium conducting the studies, with other internationally respected partners including Deutsche Krebsforschungzentrum and the Institute of Oncology in Heidelberg, Pharmatest Services Limited, a specialist CRO in Finland and with other academic and commercial associates. The consortium has been in receipt of two prestigious Eurostars Grants in the past number of years. The first grant of EUR1.4 million was to further develop the GeneICE platform. The second grant for up to EUR1.6 million was to be used to progress the pre-clinical studies of VAL101, the Company's lead candidate, which derived from the GeneICE platform and to build the associated cancer models.

Work to generate a commercially viable molecular structure for VAL101 has been ongoing and pre-clinical studies of its first generation showed that whilst the molecule worked and that Bcl-2, the gene associated with cancer, was seen to reduce and that cancer cell death occurred, the molecule's structure and manufacture however required optimisation for commercial production.

ValiRx is now pleased to report much improved technical efficacy and commercially viable efficient manufacturing and that preliminary results for the optimised second generation of the VAL101 molecule are demonstrating gene silencing levels that are similar to the original structure. As such, ValiRx will accelerate VAL101's late pre-clinical studies in preparation for the compound's entry into the clinic.

Dr Satu Vainikka, Chief Executive Officer of ValiRx, commented: "We at ValiRx along with our partners are very excited about the potential of the GeneICE platform technology and we are delighted to be able to show the successful optimisation and production of any molecule from this platform".

"We look forward to further developments and encouraging announcements in due course".

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: +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: [phone] 
                                             458 364 
                                             [e-mail] 
 
 Cairn Financial Advisers LLP               Tel: +44 (0) 20 
  (Nominated Adviser)                        7213 0880 
  Liam Murray/Jo Turner/Richard 
  Nash 
 
 Beaufort Securities Limited                Tel: +44 (0) 207 
  (Broker)                                   382 8300 
  Jon Belliss 
 

Notes for Editors

GeneICE Platform

GeneICE (Gene Inactivation by Chromatin Engineering) is a novel proprietary gene silencing platform for the efficient silencing of targeted genes. This technology is based on natural mechanisms and has the potential to halt and reverse tumour growth. ValiRx has attracted two Eurostars grants, a European grant scheme of EUR1.6m each, for further development of its GeneICE technology platform.

GeneICE mimicks a natural process in cells to silence genes. The technology acts upstream of the gene expression, potentially enabling a better inhibition compared to existing therapeutics acting at the protein or post-transcriptional levels.

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 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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September 07, 2017 02:00 ET (06:00 GMT)