ValiRx PLC Inaphaea Co-Marketing Agreement

RNS Number : 3310F

ValiRx PLC

24 September 2024

 

ValiRx plc

 

("ValiRx" or the "Company")

 

Inaphaea Co-Marketing Agreement

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, provides the following update from its wholly owned subsidiary Inaphaea BioLabs Limited ("Inaphaea").

ValiRx is pleased to confirm the execution of a Memorandum of Understanding (the "Agreement") with emerging UK drug turnaround biotech Ignota Labs Limited ("Ignota Labs"), to collaborate on the exchange of data from Inaphaea's Biobank to generate insights, co-develop new assets, and explore joint business opportunities, including grant funding.

Ignota Labs will be entitled to analyse Inaphaea's Biobank data to develop or improve in-silico models which will support sourcing of new onocology assets with the intention of co-developing these assets using Inaphaea's tCRO® services and Ignota Labs' in-silico platform. The in-silico models will also be used for future services offered by Ignota Labs. Any revenues generated from the co-developed assets or servies will be shared between Ignota Labs and ValiRx, subject to a further revenue-sharing agreement to be agreed upon.

 

Mark Eccleston, CEO of ValiRx commented "ValiRx has utilised Ignota Labs' in-silico tox screening services for its in house evaluation projects and was impressed with the performance. This agreement leverages the data sets from Inaphaea's biobank to further develop Ignota Labs' in-silico capabilities which will benefit our early stage evaluation as well as providing an exciting new AI approach to asset discovery."

Sam Windsor CEO of Ignota Labs, commented "Ignota Labs has successfully developed a proprietary AI model, SAFEPATH, which applies a deep learning approach combined bioinformatics and cheminformatics datasets to solve drug safety issues. Inaphaea's data sets will be used to develop the next iteration of SAFEPATH and improve identification of the mechanisms of drug toxicity, predict effects on the human body, and balance that with therapeutic effectiveness. We can apply this approach to clinical candidates that have failed do to toxicity issues, stratify those which can be addressed and potentially identify new candidates, all based on in-silico modelling."

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

Cautionary statement

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

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