REG - ValiRx PLC - Amends License for VAL201 with CRT

ValiRxAnnouncement

20/12/2021 07:00

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RNS Number : 1183W  ValiRx PLC  20 December 2021

20 December 2021

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

Amends License for VAL201 with Cancer Research Technology (CRT)

 

ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer
therapeutics and women's health and Cancer Research Technology ("CRT") have
amended and restated the license for the VAL201 peptide held by the Company
from CRT to enable a range of sub-licensing options.

The license of VAL201 from CRT was the subject of RNS announcements on 9 July
2008 and 12 August 2010.  The restated license updates the terms of this
agreement, including the payment schedule and terms for milestones, the
expected development plan and provides additional flexibility to a
sub-licensee for onward development.

The agreed amendments will enable the recently announced Letter of Intent
between ValiRx and TheoremRx Inc. ("TheoremRx") (announced on 2 November 2021)
to proceed to full license without further CRT involvement.

Under the terms of the license, CRT is required to formally approve any
sub-license which ValiRx enters into relating to VAL201.  CRT has also now
approved the terms of the sub-license between TheoremRx and ValiRx and
consented for the transaction to proceed in due course.

 

Dr Suzy Dilly, CEO of ValiRx commented "This amendment updates the VAL201
license terms in a manner that aligns the license with of the proposed terms
of the sub-license between ValiRx and TheoremRx.  This is an important step
in the process of confirming the licensing documentation for the sub-license,
and will enable the proposed transaction to progress without delay.  The
approval by CRT of the sub-license is also a step-wise progression towards
full execution of the agreements."

 

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 ***

 

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

 Cairn Financial Advisers LLP (Nominated Adviser)    Tel: +44 (0) 20 7213 088

 Liam Murray/Jo Turner/Ludovico Lazzaretti

 Cenkos Securities Limited (Broker)                  Tel: +44 (0) 20 7397 8900

 Russell Kerr/Michael Johnson (Sales)

 Callum Davidson/Giles Balleny (Corporate Finance)

 

 

Notes for Editors

About ValiRx

ValiRx accelerates the development of treatments in oncology and women's
health to improve patient lives. We provide the scientific, financial and
commercial framework towards enabling rapid translation of innovative science
into clinical development.

With our extensive and proven experience in research and drug development, we
select and incubate promising novel drug candidates and guide them through an
optimised process of development, from pre-clinical studies to clinic and
investor-ready assets.

Integrating science and business

We connect diverse disciplines across scientific, technical and commercial
domains, with the aim of achieving a more streamlined, less costly, drug
development process.  We work closely with our selected collaborators and
leverage the combined expertise required for science to advance.

Lead candidates from our portfolio are out-licensed or partnered with
investors through ValiRx subsidiary companies for further clinical development
and commercialisation.

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

The Company listed on the AIM Market of the London Stock Exchange in October
2006 and trades under the ticker symbol: VAL.

 

About Cancer Research Technology

Cancer Research Technology Limited (CRT) is a specialist commercialisation and
development company, which aims to develop new discoveries in cancer research
for the benefit of cancer patients. CRT works closely with leading
international cancer scientists and their institutes to protect intellectual
property arising from their research and to establish links with commercial
partners. CRT facilitates the discovery, development and marketing of new
cancer therapeutics, vaccines, diagnostics and enabling technologies. CRT is
wholly owned by Cancer Research UK, the largest independent funder of cancer
research in the world.

CRT's discovery laboratories build on exploratory research to create
attractive commercial opportunities through collaboration with research
institutes worldwide. Therapeutic programmes are then out-licensed for further
development following identification of a suitable partner.

For more information visit www.cancertechnology.co.uk

 

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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