REG - ValiRx PLC - Agreement with Dundee Uni and Project Initiation

ValiRxAnnouncement

12/02/2024 07:00

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RNS Number : 7315C  ValiRx PLC  12 February 2024

12 February 2024

VALIRX PLC

("ValiRx" or the "Company")

Overarching agreement with Dundee University and Initiation of Evaluation
project

ValiRx plc (the "Company") (AIM: VAL), a life sciences company focusing on
early-stage cancer therapeutics and women's health, is today pleased to
announce signature of an over-arching agreement with University of Dundee and
their Drug Discovery Unit (DDU) to access research relating to novel
therapeutic candidates. The first evaluation agreement under this agreement
has also been signed ("Evaluation Agreement").

The over-arching agreement is scheduled to be active for a period of five
years, during which time, the Company will have the opportunity to review
research projects from the DDU in areas aligned with the strategy of ValiRx
with a view to initiating additional evaluation projects on pre-defined terms.

The first Evaluation Agreement under the framework focuses on investigating a
lead series of therapeutic candidates in the increasingly important research
area of pro-senescence (selectively promoting ageing of cancer cells to cease
growth in tumours).  This exciting area of research has potential to be
effective in treating of multiple cancer types, and also many other disease
areas, including those associated with healthy aging. This work builds upon
previous ground-breaking research by Dundee and Barts Charity funded research
by Prof Cleo Bishop, Professor of Senescence and Director of the Queen Mary
University London  Phenotypic Screening Facility.

The evaluation process for this project is expected to take approximately 12
months, with the lead series scrutinised for mechanism of action and
anti-cancer activity in the Inaphaea BioLabs facility, and will draw upon the
skills of external collaborators.  At the conclusion of the evaluation, if
the target activity is met, the project will be considered for in-licensing on
pre-agreed terms.

 

Dr Suzy Dilly, CEO of ValiRx commented: "We are delighted to be able to
streamline the process of reviewing and accessing the excellent research from
University of Dundee's DDU, which will help to bring on evaluation projects
more quickly.  The strength of the DDU and research facilities at Dundee are
very impressive and, having reviewed multiple projects from teams there over
the past year, we believe that this evaluation agreement will be the first of
a series of new projects that can be brought into our pipeline."

Dr Cathy Tralau-Stewart, CSO of ValiRx explains: "The Drug Discovery Unit
(DDU) is housed within the School of Life Sciences at the University of Dundee
and is a fully integrated drug discovery centre which utilises extensive,
highly-respected industry expertise to support the development of therapeutics
originating from academic research. This multi-disciplinary expertise is
required for successful drug discovery and we look forward to working with the
DDU to progress this exciting project and other innovative approaches. This
evaluation agreement is an important step-forward in developing ValiRx's drug
discovery pipeline."

Professor David Gray, Head of Biology and innovative targets portfolio lead at
the DDU commented "We are delighted that our UKRI Impact Accelerator Award has
enabled us to translate the groundbreaking work of our collaborator Cleo
Bishop at Queen Mary University London, to the point where ValiRx see the
potential for treating patients."

 

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                                        Tel: +44 (0) 2476 796496

                                                   www.valirx.com

 Dr Suzanne Dilly, CEO                             Suzanne.Dilly@valirx.com (mailto:Suzanne.Dilly@valirx.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
 Cairn Financial Advisers LLP (Nominated Adviser)  Tel: +44 (0) 20 7213 0880

 Liam Murray/Jo Turner/Ludovico Lazzaretti

 Shard Capital Partners LLP (Sole Broker)          Tel: +44 (0) 20 7186 9000

 Damon Heath

 

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 University of Dundee

The University of Dundee is one of the world's leading centres for life
sciences research, and a recognised leader of innovation in this space being
ranked first in the Entrepreneurial Impact Ranking 2023 (Gateways to Growth:
The Entrepreneurial Impact Report) compiled by Octopus Ventures, one of
Europe's largest venture capital teams. This independent ranking was
determined by factors such as numbers of patents, spin-out companies created
and recent portfolio success, which for the University included the £2.2
billion IPO of Exscientia on the US NASDAQ, one of the largest ever UK
university exits.

The Drug Discovery Unit is supported by the University's Research &
Innovation Services (RIS), which helps to maximise the impact of research
carried out at Dundee and facilitate strategic partnering with industry.

About Queen Mary University London

Queen Mary's internationally recognised research transforms the lives of
people around the world - and is grounded in our local community. We solve
global medical problems and improve the health of millions.

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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