RCS - ValiRx PLC - Inaphaea BioLabs secures first external contract

ValiRxAnnouncement

19/07/2023 07:00

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RNS Number : 4380G  ValiRx PLC  19 July 2023

ValiRx PLC

("ValiRx" or the "Company")

Operational Update - Inaphaea BioLabs secures first external contract

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health, is pleased to announce an
operational update on the Company's wholly owned subsidiary, Inaphaea BioLabs
Limited ("Inaphaea").

Inaphaea has signed a Master Services Agreement and Project Statement of Work
with a UK based biotech company.  The first invoice has been issued relating
to the work, with subsequent invoices anticipated at milestones during the
project period.

This defined work programme involves a multi-stage project and is expected to
complete at the end of September 2023.  The project is investigating possible
anti-cancer properties of a range of novel molecules using a phenotypic assay
and will benefit from the use of patient-derived cells ("PDCs") from
Inaphaea's biobank, recently acquired from the liquidated assets of Imagen.
The Directors believe that ready access to in-house PDCs will simplify access
to suitable in vitro cancer disease models.

In addition, Inaphaea has commenced studies on internal ValiRx assets VAL301
and Cytolytix CLX001, thereby reducing third party testing costs and reducing
potential for delays.

Dr Suzy Dilly, CEO at ValiRx explains "It is gratifying that the first
external client secured by Inaphaea is benefiting from the PDCs we recently
acquired. We are looking forward to working closely with this client, and hope
for this to be the first contract in a substantial working relationship.
 With the first revenues now being generated by Inaphaea, we are delighted
that our service offering is being well received and welcomed by our intended
client base."

 

The Directors of the Company take responsibility for this announcement.

 

For more information, please contact:

 

 ValiRx plc                                                     Tel: +44 (0) 2476 796496

                                                                www.valirx.com (http://www.valirx.com)

 Dr Suzanne Dilly, CEO                                          Suzanne.Dilly@valirx.com (mailto:Suzanne.Dilly@valirx.com)

 Inaphaea BioLabs Limited                                       www.inaphaea.com (http://www.inaphaea.com/)

 Dr Andrew Carnegie, Head of Strategic Commercial Development   Andrew.Carnegie@inaphaea.com (mailto:Andrew.Carnegie@inaphaea.com)

 V Formation (Public Relations)                                 +44 (0) 115 787 0206

                                                                www.vformation.biz (http://www.vformation.biz)

 Lucy Wharton - Senior PR Executive

 Sue Carr - Director                                            lucy@vformation.biz

                                                                sue@vformation.biz
 Cenkos Securities plc (Joint Broker)                           Tel: +44 (0) 20 7397 8900

 Dale Bellis/Michael Johnson (Sales)

 Callum Davidson/Giles Balleny (Corporate Finance)
 Turner Pope Investments (Joint Broker)                         Tel: +44 (0) 20 3657 0050

 James Pope / Andy Thacker

 

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 (http://www.valirx.com)

About Inaphaea BioLabs

Inaphaea BioLabs is a new pharmaceutical services company, based in Nottingham
(UK), offering cell-based assays specialising in oncology and women's
health.  Our aim is to improve the translation of early drug discovery
projects towards the clinic. Driven by a desire to generate deeper biological
understanding of drug candidates in discovery and preclinical phases of
development, Inaphaea will provide testing services that generate the
necessary data, analysis and insights to aid decision making in translational
drug development.

Spun out from ValiRx PLC, the core team within Inaphaea have a strong
background of preclinical and clinical drug development, and of understanding
both the commercial and scientific needs of the service users from both sides
of the table.

 

Inaphaea will offer a range of services across all areas of cell-based assays,
including phenotypic assays to assess efficacy and selectivity of activity
against patient-derived cancer cells; mechanistic and binding assays; and
measurements of production of cell markers and hormones.  Inaphaea's services
will evolve over time to incorporate new techniques and technologies with the
ambition to improve biological understanding and translatability of early
discovery in drug development.

For further information, visit www.inaphaea.com (http://www.inaphaea.com)

About Patient-derived Cells

Long-established immortalised cancer cells, although used frequently in early
stage cancer research, are known to have limitations when considering the
translation of research from preclinical to clinical studies.
Patient-derived cells enable the research to be a step closer to studying a
human clinical system, by more closely resembling the cells within the
patient.  The patient-derived cells are maintained at a low passage number,
that it they have not been replicated excessively, to minimise mutations.
Typically these cells will be grown as 2D monolayers for study, however, they
may also be developed into spheroids, to enable 3D study.

Known characteristics of the patient from which the cells are derived are
whether the patient had received cancer treatment, the type of cancer the
patient was suffering and a broad demographic group.

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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