REG - ValiRx PLC - Ambrose Exercise Option on VAL401

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RNS Number : 6174N  ValiRx PLC  20 June 2025

20 June 2025

ValiRx PLC

("ValiRx" or the "Company")

 

Ambrose Healthcare Exercise Option on VAL 401 Out License Agreement for £16
Million plus Royalties

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health is pleased to announce
that, further to the extension to the Letter of Intent ("LOI") with Ambrose
Healthcare Ltd ("Ambrose") announced on 20 November 2024, Ambrose has now
served notice to ValiSeek Limited ("Valiseek") to exercise their option
("Option") to licence Valiseek's VAL401 asset under the pre-agreed terms of
the Option Agreement announced on 5 December 2023.

Under the terms of the Option Agreement and following exercise of the Option,
ValiRx and Ambrose have entered into an Intellectual Property Licence
Agreement for VAL401 under which ValiRx will receive 576,000 ordinary shares
in Ambrose with clinical and commercial milestone payments to be made to
Valiseek totalling a value of up to £16 million plus royalties.

Ambrose is a private UK specialist pharmaceutical company, incorporated in
October 2022 and focussed on developing new treatments for rare diseases and
patients managed in hospitals and specialist care. The initial £6 million
milestones are payable in cash or the equivalent value in new ordinary shares
in Ambrose with the issue price determined by the latest issue of shares in
Ambrose, at the discretion of Ambrose. Payment of milestones in cash is
subject to Ambrose raising capital in due course.

ValiSeek is a 54.14% subsidiary joint venture of ValiRx alongside Tangent
Reprofiling (a member of the SEEK Group), its sole asset is VAL 401 which is
the repurposed Risperidone asset which in a novel lipid formulation is seen to
have anticancer effect across a number of indications.

Under the License Agreement, Ambrose Healthcare will meet all future patent
costs and commits to completing development and commercialisation of VAL401 at
Ambrose's cost.

Mark Eccleston, CEO of ValiRx commented "We are pleased to be able to complete
this technology license for VAL401 with Ambrose and we have been working to
identify multiple funding partners to progress VAL401 through the various
clinical stages with several options under discussion. In addition, we are
also exploring short term opportunities to support a funded preclinical
validation for VAL401 through our wholly owned subsidiary, Inaphaea Biolabs
Limited, which has 19 pancreatic Patient Derived Cell models. These models can
be applied in 3D systems as New Approach Methods which are receiving growing
support from the FDA in support for IND submissions."

Toby Wilson Waterworth, CEO of Ambrose Healthcare commented "Ambrose
Healthcare is excited to announce the exercise of the option and enter a
licensing agreement to develop and commercialise for VAL401 globally. This
strategic partnership underscores Ambrose Healthcare's commitment to
pioneering innovative rare disease therapies that enhance patient outcomes.
This licensing deal marks an important step in our mission to accelerate safe
and effective treatment to rare disease populations, including Oncology. For
example, pancreatic cancer, one of the deadliest is considered a rare disease.

VAL401 has demonstrated potential therapeutic benefits in a late-stage
non-small cell lung cancer clinical trial. Broadening the potential for
VAL401, Ambrose intends to work with ValiRx's Inaphaea to generate
pre-clinical evidence in multiple other cancer indications, starting with
pancreatic models. We are eager to accelerate its development, with expanded
clinical trials and expedited regulatory submissions, to broaden the impact of
this innovative therapy to patients worldwide."

 

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 ***

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For more information, please contact:

 Investor questions on this announcement           https://valirx.com/link/peg6vy

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 on this announcement via our investor hub
 ValiRx plc                                        Tel: +44 115 784 0026

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

 Dr Mark Eccleston, CEO                            Mark.Eccleston@valirx.com

 Cairn Financial Advisers LLP (Nominated Adviser)  Tel: +44 (0) 20 7213 0880

 Liam Murray / Ludovico Lazzaretti

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

 Damon Heath

 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

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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)

 

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