REG - ValiRx PLC - Expanded agreement with University of Barcelona

ValiRxAnnouncement

07/06/2023 07:00

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RNS Number : 8714B  ValiRx PLC  07 June 2023

ValiRx PLC

("ValiRx" or the "Company")

Expanded Evaluation agreement with University of Barcelona

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health, is today pleased to
announce that the evaluation agreement announced on 14 February 2022 from
Barcelona University has been expanded to a broader collaboration including
additional molecules targeting KRAS (Kirsten RAt Sarcoma) as possible drugs
for treating cancer.

Under the previous agreement, ValiRx had been conducting a range of
experiments on the initial project from Barcelona University over a period of
twelve months.  A lead series of peptidomimetic therapeutic candidates was
assessed initially in silico, with the top four molecules selected for
synthesis and in vitro testing.  These cell-based in vitro studies
investigated the activity of the four molecules against pancreatic cancer,
uterine sarcoma and ovarian cancer cells.  Three of the four molecules
selected demonstrated good activity and one of them was then selected for
further study in vivo.

Whilst the in vivo study did not achieve the desired level of anti-cancer
activity, it demonstrated no adverse toxicity leading to the conclusion that
further research around this molecular series would be beneficial.

The University of Barcelona has an active research group working in this area
and has been awarded a grant to further study the effects of the same lead
series.  ValiRx has entered into an expansion of the initial evaluation
agreement ("Expanded Evaluation Agreement") to continue to work alongside the
recently funded Barcelona research team to build a broader understanding of
the biological activity of the drug candidates.

The Expanded Evaluation Agreement includes research on an additional series of
molecules for a different, yet equally novel, binding pocket of KRAS which are
within the University of Barcelona's research program; and the ability to
consider further compounds that may be developed at the University of
Barcelona under the format this agreement.

The Expanded Evaluation Agreement is scheduled to be active for up to four
years, with the potential to extend by a further four years, with each project
being subject to a standard set of legal conditions, and each lead series
undergoing a separate evaluation process.  Each evaluation process is
expected to last up to 12 months, with success potentially leading to the
set-up of a ValiRx subsidiary to further progress the project.

Dr Suzy Dilly, CEO of ValiRx commented: "We are delighted to be able to
provide a letter of industrial support for the grant application by the
University of Barcelona and we very much look forward to reviewing the
additional data generated by the team.  The capability of this team in
generating leads for assessment is truly impressive, and we're pleased that we
have set up this broader framework to allow us to assess new molecules
efficiently if they emerge as suitable candidates for further development."

University of Barcelona research group's Principal Investigator commented: "We
appreciate the work conducted by ValiRx to expand on the evaluation agreement
with more of our projects giving us an opportunity to advance our research in
such an important area of science. The support ValiRx brings us is extremely
valuable for our research and we anticipate the complimentary experiments and
data will reinforce our projects."

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

 Cenkos 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 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 centres of the continent. Focused on academic
excellence, the UB is committed to provide the next generation of
-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
("UB") is the Bosch i Gimpera Foundation ("FBG"). The FBG is responsible for
transferring the results of the research carried out at the UB to society
through the creation of spin-offs, patent licensing, and contracts with
companies and institutions, thus contributing to the competitiveness of the
business framework and the improvement of social welfare. In 2021, UB
developed 564 projects and generated € 24.31 million in contractual revenue.
The UB has 132 transfer patents and 22 active spin-offs. The FBG works towards
the Sustainable Development Goals ("SDGs") through transfer activities that
are in-line with the 17 SDGs.

 

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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