REG - ValiRx PLC - Inaphaea Evaluation and Commercial Use Agreement

ValiRxAnnouncement

09/09/2024 07:00

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RNS Number : 3167D  ValiRx PLC  09 September 2024

ValiRx plc

 

("ValiRx" or the "Company")

 

Inaphaea Evaluation and Commercial Use Agreement

 

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

Inaphaea is pleased to confirm the execution of an Evaluation and Commercial
Use agreement ("Agreement") with UK based DLOC Biosystems Holdings Limited
("DLOC") to provide Inaphaea's Patient Derived Cells ("PDC") for evaluation
and commercial use in DLOC's state-of-the-art organ-on-a-chip technology.
The contract initially focusses on establishment of up to four glioblastoma
and one Triple Negative Breast Cancer in-vitro 3D tumour model which will then
be offered for commercial services by DLOC and Inaphaea. Additional PDCs
across Inaphaea's range of 66 cancer types can be added at any time.

Inaphaea will be entitled to an upfront fee and a percentage of service
royalties on commercialisation of the models. DLOC have an option to buy the
commercialise rights in relating to the PDCs and support future drug
development.  Both companies have also agreed to co-market their respective
services. The Agreement is for a period of 12 months initially and may be
extended in writing by mutual agreement.

Andrew Carnegie, Head of Strategic Commercial Development at Inaphaea,
commented "Companies with exciting technology platforms like DLOC represent
the future of rapid drug development and we are excited to support the
development of more realistic tumour models to extend the applications of the
PDCs from our biobank. There is a great synergy between DLOC's non animal
based testing and Inaphaea's vision for accelerating drug candidates along the
development pipeline."

Mark Eccleston, CEO of ValiRx commented "This second deal to exploit
Inaphaea's Patient Derived Cell bank demonstrates the interest in our biobank
and we look forward to developing the next generation of in-vitro  drug
evaluation systems with DLOC."

Wadah Malaeab, CEO of DLOC, commented "DLOC is developing state-of-the-art
organ-on-a-chip technology to deliver accurate assay testing services to
pharmaceutical companies and advance drug discovery. This partnership with
Inaphaea is a perfect synergy. By combining 3D tumour models, utilising
Inaphaea's library of PDCs, with our biochips to provide an environment where
cells can grow and reorganise into tissues, provides the perfect setting for
large scale, affordable drug testing. Our technology will help to enable the
reduction and replacement of animal testing, by providing more accurate data
on safety and efficacy than current pre-clinical testing models."

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) 115 784 0026

                                                   www.valirx.com

 Dr Mark Eccleston, CEO                            info@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/Jo Turner/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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