REG - ValiRx PLC - Evaluation agreement with University of Barcelona

ValiRxAnnouncement

14/02/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220214:nRSN5117Ba&default-theme=true

RNS Number : 5117B  ValiRx PLC  14 February 2022

14 February 2022

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

Evaluation agreement with University of Barcelona

 

ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer
therapeutics and women's health, has entered into an evaluation agreement with
University of Barcelona (Spain) to investigate a drug candidate for use in
oncology.

Under the agreement, the Company will carry out a defined series of
preclinical tests on a lead series of peptidomimetic drug candidate molecules
over the next twelve months to validate the technology and determine
suitability for commercialisation.  This preclinical evaluation, the cost of
which will be borne by ValiRx of up to £100,000, will investigate the mode of
action and potential utility as a treatment of KRAS (a GTPase protein made by
the oncogene, Kirsten Rat Sarcoma Virus) dependent cancers including Uterine
and Pancreatic Cancers.

At the conclusion of the evaluation period (February 2023), the Company has an
option to license the technology on pre-agreed terms.

Dr Suzy Dilly, CEO of ValiRx commented: "The lead series of drug candidates
under evaluation in this agreement have been developed towards a novel
interaction with the KRAS protein important in many cancers of high unmet
medical need.  KRAS has been a target of interest in oncology for a number of
years, and this project has potential to provide a unique method to impact
this important pathway."

University of Barcelona research group's Principal Investigator: "KRAS is a
known therapeutic target for several cancers, but until recently, it has been
undruggable. However, we have found a way to interact with this target. The
partnership between University of Barcelona and ValiRx is essential to
accelerate the development of those promising results that we have achieved.
This agreement will reinforce the project and provide valuable data to
progress towards clinical development."

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 (mailto: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 University of Barcelona

The University of Barcelona ("UB") is the largest public university in
Catalonia and one of the most prestigious higher education institutions in
Spain. According to the rankings, it is the most innovative university in
Spain in 2019. The UB is a member of the League of European Research
Universities ("LERU"), an association that gathers the most important
twenty-three research university centers of the continent. Focused on academic
excellence, the UB is committed to provide next generations -professionals,
researchers, entrepreneurs, leaders with the skills to carry out new research.

Technology transfer

The technology transfer and innovation unit of the University of Barcelona is
the Bosch i Gimpera Foundation ("FBG"). The FBG is responsible for
transferring the results of the research carried out at the UB by engaging in
contracts with companies, creating spin-offs and patent licensing to
commercialise their research. In 2020, the FBG developed 623 projects and
generated € 41.93 million in contractual revenue. During the period 2018 -
2020, 51 technologies have been licensed and 8 spin-offs created.
http://www.fbg.ub.edu/en/ (http://www.fbg.ub.edu/en/)

 

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGREAAADFFNAEAA