ValiRx PLC Update on proposed sub-license of VAL401

RNS Number : 8786M

ValiRx PLC

20 November 2024

 

20 November 2024

 

ValiRx PLC

("ValiRx" or the "Company")

 

Update on proposed sub-license of VAL401

 

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 exclusive Option Agreement announced on 5 December 2023 between ValiSeek Limited ("ValiSeek") and Ambrose Healthcare Limited ("Ambrose Healthcare"), the Company has received notification from Ambrose Healthcare to exercise a six month extension to the option period granted to it under the original agreement (the "Extension").

Under the Extension, Ambrose Healthcare has a further 6-month period of exclusivity under which it may exercise the option to execute a global, exclusive license of Valiseek's VAL401 asset under pre-agreed terms.

All other terms remain unchanged with Ambrose Healthcare commiting to completing development and commercialisation of VAL401 at Ambrose's cost.

VAL401 is in development for Pancreatic ductal adenocarcinoma.

 

Mark Eccleston, CEO of ValiRx commented "This 6 month extension was available to Ambrose Healthcare under the terms of the initial agreement and has been exercised to give them further time to complete their funding process."

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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.

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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