REG - ValiRx PLC - Directorate Changes and new Advisory Board

ValiRxAnnouncement

27/03/2025 07:15

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RNS Number : 3974C  ValiRx PLC  27 March 2025

 

ValiRx PLC

("ValiRx" or the "Company")

 

Directorate Changes and Formation of new Advisory Board

London, UK - ValiRx Plc (AIM: VAL), a life sciences company focusing on
early-stage cancer therapeutics and women's health, announces the resignation
of Adrian de Courcey from its Board of Directors and that Cathy Tralau-Stewart
has agreed with the Board to transition to a role as Non-Executive Director of
the Company. The Company also announces the formation of its new Advisory
Board which will replace its current Scientific Advisory Board.

Directorate Changes

Cathy Tralau-Stewart, Chief Scientific Officer and Director of the Company,
has agreed with the Board to transition to a role as Non-Executive Director of
the Company with immediate effect. Cathy will be appointed as Chair of the new
Advisory Board set up to deliver Scientific, Commercial and Strategic Advice
to the Company. Adrian de Courcey has informed the Board that he has resigned
as Non-Executive Director of the Company with immediate effect, to focus on
other opportunities.

During her tenure as our fractional CSO, Cathy has been instrumental in
developing ValiRx's pipeline strategy, identifying, reviewing and advising on
a series of Evaluation and In-licensing options. Cathy brings a wealth of
experience in drug development as well as industry contacts and recognition
which ValiRx wishes to retain.

During Adrian's tenure as a ValiRx Non-Executive Director, he has helped the
Company navigate a major strategic and organisational overhaul with the new
management team to achieve significant operational efficiencies and reduce
cash burn.

These changes at the Board level form part of implementing a significant
restructure and reduction in headcount across the Company As part of the
restructure, the Company has hired a new, full time, Director of Research
(non-board role), Michelle Barnard, who brings over 10 years' experience as a
Senior Scientist specialising in Oncology Biology at Cancer Research Horizons
and in Drug Discovery at the University of Graz prior. The Inaphaea team will
also be supported by a specialist technician. These changes are expected to
reduce annual costs by approximately £200,000.

New Advisory Board

ValiRx has also assembled a range of experts to establish its new Advisory
Board ("AB"). The initial members of the AB, in addition to Cathy
Tralau-Stewart as chair, will comprise:

·    Dr Heather Wilson Robles, a clinical oncologist and former President
of the Veterinary Cancer Society, specialising in veterinary medicine is based
at United Veterinary Care and Ethos Discovery based in Washington DC US.

·    Dr Simon Wheeler, a former member of Novartis Ventures tasked with
finding Veterinary medicine investments and now an Independent Animal Health
and Veterinary Consultant.

 

The AB brings a combination of scientific and commercial expertise as well as
contacts within the industry. The AB also brings a balance of human and
veterinary medicine expertise as we explore opportunities to leverage our
preclinical data for earlier access to the veterinary market in addition to
our primary focus on the human market.

 

Martin Gouldstone, Chairman of ValiRx commented "I would very much like to
extend my sincere appreciation to Cathy for her contributions whilst serving
as CSO and Executive Director for ValiRx. I am delighted that Cathy will
continue to work with ValiRx as a Non-Executive Director as well as supporting
the scientific and commercial direction of the Company by chairing our new AB.

 

"Equally I would like to thank Adrian for his contribution, helping the Board
implement significant strategic and operational changes following a difficult
transitional period during the time that both Mark Eccleston and I have been
in our respective roles.

 

"The operational efficiencies and cost reductions that ValiRx has now made
will allow us to concentrate on the Company's longer term commercial and
strategic objectives."

 

Mark Eccleston, CEO of ValiRx commented "I too would like to thank Adrian for
his invaluable guidance during the first half year of my tenure. The main
objectives when I took over as CEO were to bring more commercial and clinical
development experience, enhance operational efficiency and deliver substantial
cost savings whilst the Company builds its therapeutic pipeline.

 

"I am also very happy that Cathy is going to continue her involvement with
ValiRx by chairing our newly formed Advisory Board as well as acting as
Non-Executive Director to the Company.  To be able to continue to access her
advice alongside her role as Executive Director of the Milner Institute in
Cambridge is invaluable to ValiRx."

 

"In addition to measures to reduce costs across the Company from our external
service providers, I have made some difficult choices to improve operational
efficiency and reduce cash burn which inevitably meant fewer available
positions within the Company. I would like to thank everyone affected for
their input to the Company over their time.  The changes announced here
deliver an annual cost reduction of approximately £200,000."

 

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 ***

Engage with the ValiRx management team directly by asking questions, watching
video
summaries and seeing what other shareholders have to say. Navigate to
our Interactive Investor
hub here: https://valirx.com/s/cc8ef3

For more information, please contact:

 

 Investor questions on this announcement           https://valirx.com/link/DP4lXP

 We encourage all investors to share questions

 on this announcement via our investor hub
 ValiRx plc                                        Tel: +44 115 784 0025

                                                   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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