REG - ValiRx PLC - Contract Award

ValiRxAnnouncement

19/11/2024 07:00

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RNS Number : 7034M  ValiRx PLC  19 November 2024

19 November 2024

 

ValiRx PLC

("ValiRx" or the "Company")

 

Contract Award

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health, provides the following
contract award update from its wholly owned subsidiary Inaphaea BioLabs
Limited ("Inaphaea").

Inaphaea is delighted to confirm the execution of a further contract for the
provision of cell-based assays to UK biotech company, Amply Discovery Limited
("Amply"). The multiphase contract, potentially worth over £100,000 over a 8
month period, will evaluate various formulations of Amply's developmental
siRNA targets in Inaphaea's Triple Negative Breast Cancer (TNBC) Patient
Derived Cells (PDCs) as stand-alone agents and in combination with standard of
care drugs. The deal includes an upfront payment to Inaphaea of approximately
£31,000 with an additional approximately £21,000  payment on completion of
the first phase after 4 months and £10,500 on completion of the remaining
in-vitro phase after a further 6 weeks. Successful candidates have the option
to be evaluated in-vivo using selected PDCs through one of Inaphaea's
partners.

Andrew Carnegie, Head of Strategic Commercial Development at Inaphaea,
commented "It is exciting to have secured this contract, which aligns our
services with one of our strategic partners, and defines a good roadmap for
future clients."

Mark Eccleston, CEO of ValiRx commented "This is an important contract for
Inaphaea as it validates our partnered approach to offering full-service
capabilities to our clients."

Dermot Tierney, COO of Amply commented "We are happy to be working with
Inaphaea on this critical phase of Amply's development pathway. It was
important for us to find a CRO partner who could manage the whole process with
agreed milestones."

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 Mark Eccleston, CEO                            Mark.Eccleston (mailto:Mark.Eccleston@valirx.com) @valirx.com

                                                 (mailto:Mark.Eccleston@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/ 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)

 

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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