REG - ValiRx PLC - Evaluation Agreement with StingRay Bio

ValiRxAnnouncement

10/11/2023 07:00

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RNS Number : 0139T  ValiRx PLC  10 November 2023

ValiRx PLC

("ValiRx" or the "Company")

Evaluation Agreement with StingRay Bio

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health, has entered into an
agreement with StingRay Bio Limited ("StingRay") to investigate a lead series
of drug candidates for use in oncology.

The lead series of molecules has been developed by StingRay using a
target-based drug design approach, to create novel candidate drugs for kinases
with well-validated links to cancer.  Under the agreement, the Company will
carry out a defined series of preclinical tests on the molecules over the next
twelve months to validate the technology and determine suitability for
commercialisation.

This preclinical evaluation will investigate the action of the molecules
against a range of cancer types.  Research conducted at Inaphaea BioLabs and
collaborative partners will progress lead optimisation of the lead series
molecules and ascertain activity, utilising patient derived cells from the
recently acquired Imagen biobank; as well as assessing safety profiles of lead
candidates nominated from within the series.

The cost of the work will be borne by ValiRx and will be capped at £100,000
over the twelve month period.  At the conclusion of the evaluation period the
Company has an option to license the technology on pre-agreed terms.

Dr Suzy Dilly, CEO of ValiRx commented "It is hugely exciting to have another
evaluation agreement commencing, particularly one such as this which has a
high pedigree of medicinal chemistry behind it to build the lead series of
molecules for us to continue its optimisation.  I'm looking forward to
working closely with the team at StingRay to continue the project."

Jeff Roix, CEO of Stingray Bio says, "We look forward to further progress in
our evaluation agreement with ValiRx. With great innovation provided by its
Inaphaea team and novel Imagen assets, we believe ValiRx's efforts can help
realise the commercial potential of StingRay's founding contributions in new
cancer therapeutics."

 

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 (http://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

 Cavendish Securities plc (Joint Broker)             Tel: +44 (0) 20 7397 8900

 Dale Bellis/Michael Johnson (Sales)

 Callum Davidson/Giles Balleny (Corporate Finance)
 Turner Pope Investments (Joint Broker)              Tel: +44 (0) 20 3657 0050

 James Pope / Andy Thacker

 

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 StingRay Bio

StingRay Bio is a UK biotech incorporated in 2021 to develop novel cancer
therapeutics. Founded in collaboration with Professor John Spencer and
Professor Georgios Giamas at the University of Sussex, StingRay Bio has
created an intellectual property estate of highly specific kinase inhibitors
for cancer therapy. With indications for treating breast and other cancers
that are common in women, Stingray Bio continues its mission to deliver
impactful, differentiated therapies to cancer patients with high unmet needs.

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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