REG - ValiRx PLC - KTH222 Evaluation Agreement Concluded

ValiRxAnnouncement

27/05/2021 07:00

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RNS Number : 9600Z  ValiRx PLC  27 May 2021

27 May 2021

VALIRX PLC

 

("ValiRx", the "Company" or the "Group")

 

KTH222 Evaluation Agreement Concluded

 

London, UK - ValiRx plc (AIM:VAL), a clinical stage drug development company
announces that further to the notification made on 10 November 2020 it has
concluded its agreement in relation to the evaluation of the KTH222 peptide as
a drug candidate announced on 10 November 2020 for treating patients with
ovarian cancer.

 

ValiRx announced on 10 November 2020 that it had entered into an agreement
with Kalos Therapeutics ("Kalos"), whereby ValiRx would perform a range of
preclinical evaluation experiments to determine whether to enter a full
licensing agreement for the therapeutic candidate.

 

At the conclusion of the estimated six-month evaluation schedule, ValiRx has
elected to terminate the agreement and has returned all data generated to
Kalos.

 

Dr Suzy Dilly, Chief Executive Officer commented:

 

"The agreement with Kalos is a good example of our new strategy to perform a
considered yet straightforward assessment of best-fit between scientific
programmes and the Company. By identifying early in this process that KTH222
is not a good strategic fit for our pipeline, we have been able to return the
asset to the originators and continue our efforts to seek new science to bring
into the Company.  We look forward to presenting the next new project to the
pipeline in due course."

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

 

Ends

 

For further information please contact:

 

 ValiRx plc                                         Tel: +44 (0) 2476 796496

                                                    www.valirx.com (http://www.valirx.com/)
 Suzanne Dilly, CEO                                 Suzanne.Dilly@valirx.com

 Cairn Financial Advisers LLP (Nominated Adviser)   Tel: +44 (0) 20 7213 0880

 Liam Murray / Jo Turner / Ludovico Lazzaretti

 Peterhouse Capital Limited (Sole Broker)           Tel: +44 (0) 20 7469 0930

 Duncan Vasey / Lucy Williams / Eran Zucker

 Optimum Strategic Communications                   Tel: +44 (0) 20 8148 3040

 Supriya Mathur/ Shabnam Bashir                     valirx@optimumcomms.com (mailto:valirx@optimumcomms.com)

 

 

About ValiRx plc

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/)

 

 

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