ValiRx PLC Update on proposed sub-license of VAL201

RNS Number : 1320K

ValiRx PLC

30 October 2024

 

30 October 2024

 

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

 

Update on proposed sub-license of VAL201

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health announces that, further to the 2024 interim results announced on 27 September 2024, the Company has signed an amendment to the Letter of Intent ("LOI") with TheoremRx Inc ("TheoremRx"). The exclusivity provided has been extended for a limited time period until 31 December 2024 in exchange for a 0.5% equity interest in TheoremRx following the potential reversal into a US listed shell.

The LOI and proposed Licence Agreement (as referred to in the announcement of 2 November 2021) remain non-binding and there is no guarantee that this Licence Agreement will be executed or that it will generate material revenues within the expected timeframe or at all.

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.

 

Mark Eccleston, CEO of ValiRx commented "This time limited extension has been granted  to allow TheoremRx to continue the progression of their financing, which on completion will enable execution of the sub-license of VAL201 to TheoremRx.  We remain supportive of the TheoremRx team and continue to closely monitor their progress."

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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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