ValiRx PLC Conclusion of Evaluation Project

RNS Number : 6800F

ValiRx PLC

26 September 2024

 

26 September 2024

 

ValiRx PLC ("ValiRx" or the "Company")

 

Conclusion of Evaluation Project

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, provides the following update at the conclusion of the Evaluation project from the University of Barcelona announced on 7 June 2023.

On entering the broader collaboration agreement with Barcelona University in June 2023, the Company tested drug candidates from the series "KRAS2" in a barrage of in silico and in vitro tests.  After expanding the series of molecules through in silico study, a selection of candidates were synthesised and tested for anti-cancer activity as a monotherapy and in combination with standard chemotherapy agents within the laboratory at Inaphaea BioLabs Limited. 

Although initial results show promise, the development programme is at an early stage, and the Company has decided to return the project to the university researchers for further development, with no further financial commitment from the Company. The parties have agreed to terminate the current collaboration agreement and revert responsibility for maintaining the intellectual property to Barcelona University.

Mark Eccleston, CEO of ValiRx commented "Working alongside the University of Barcelona team on this project has been an engaging experience, and although we are not in a position to progress with this lead series of molecules at this stage, we look forward to retaining close contact with the team at Barcelona to hear further updates on these and other projects which could lead to future agreements."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company take responsibility for this announcement.

 

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For more information, please contact:

 

ValiRx plc   Dr Mark Eccleston, CEO	Tel: [phone] www.valirx.com [e-mail]
V Formation (Public Relations)   Lucy Wharton - Senior PR Executive Sue Carr - Director	[phone] www.vformation.biz   [e-mail] [e-mail]
Cairn Financial Advisers LLP (Nominated Adviser)   Liam Murray / Ludovico Lazzaretti	Tel: [phone]
Shard Capital Partners LLP (Sole Broker)   Damon Heath	Tel: [phone]

 

Notes for Editors

About ValiRx

ValiRx is a life science company focused on early-stage cancer therapeutics and women's health, accelerating the translation of innovative science into impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for enabling rapid translation of innovative science into clinical development.

Using its extensive and proven experience in research and drug development, the team at ValiRx selects and incubates promising novel drug candidates and guides them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. The team works closely with carefully selected collaborators and leverages the combined expertise required for science to advance.

Lead candidates from ValiRx's portfolio are outlicensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation. 

ValiRx listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

For further information, visit: www.valirx.com

 

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