ValiRx PLC Inaphaea Evaluation and Commercial Use Agreement

RNS Number : 5918E

ValiRx PLC

18 September 2024

 

ValiRx plc

 

("ValiRx" or the "Company")

 

Inaphaea Evaluation and Commercial Use 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").

Inaphaea is pleased to confirm the execution of an Evaluation and Commercial Use Agreement (the "Agreement") with Spanish contract research organisation Xenopat S.L. ("Xenopat") to provide Inaphaea's Patient Derived Cells ("PDC") for evaluation and commercial use in Xenopat's in-vivo Xenograft platform.  The contract provides access Inaphaea's 470+ PDCs which can be added at any time.

Inaphaea will be entitled to an upfront fee and a percentage of service royalties on commercialisation of the models. Both companies have also agreed to co-market their respective services and target non-dilutive funding to expand the development through European grant schemes. The Agreement is for an initial period of 12 months and may be extended in writing by mutual agreement.

Andrew Carnegie, Head of Strategic Commercial Development at Inaphaea, commented "We continue to expand our market reach and capabilities through great partnerships. This win-win approach should accelerate commercialisation of our biobank assets and expand our in-vitro service to Xenopat's clients."

Mark Eccleston, CEO of ValiRx commented "This deal marks another milestone in the commercialisation of Inaphaea's PDC bank expanding the range of in-vivo models available for commercial use. Xenopat's expertise in Xeonograft models makes them an ideal partner to further deploy our biobank of over 470 PDCs to their clients whilst broadening our commercial reach for in-vitro service contracts."

Anna Portela, CEO of Xenopat, commented "Our new partnership with Inaphaea is an important step forward for the growth of both companies. We look forward to developing new Xenograft models for our clients using the Inaphaea PDCs whilst offering our client base earlier stage, high throughput in-vitro capabilities through Inaphaea translational Research capabilities."

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.

*** ENDS ***

 

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/Jo Turner/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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