REG - ValiRx PLC - New Evaluation and Material Transfer Agreement

ValiRxAnnouncement

09/01/2026 07:00

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RNS Number : 2552O  ValiRx PLC  09 January 2026

9 January 2026

 

ValiRx PLC

("ValiRx" or the "Company")

 

New Evaluation and Material Transfer Agreement

ValiRx plc (the "Company") (AIM: VAL), a life sciences company focusing on
early-stage cancer therapeutics and women's health and The Royal Institute for
the Advancement of Learning/McGill University ("McGill"), a Canadian based
University, and The Institute for Research in Immunology, and Cancer -
Commercialization of Research ("IRICoR"), a Canadian based non-profit
organisation, have entered into a nine-month, Evaluation and Material transfer
agreement (the "Agreement").

Under the new format Agreement with McGill and IRICoR (the "Institutions"),
target engagement and potency of a second generation, orally available, RNA
Helicase inhibitor will be established by the Company's wholly owned
subsidiary, Inaphaea Biolabs Ltd ("Inaphaea"). During the evaluation period,
any results generated will be owned by ValiRx (the "Evaluation Results").

IRICoR will establish a Canadian registered, wholly owned, subsidiary
("NewCo") for the purpose of commercialising the Evaluation Results and
Background Intellectual Property and grant NewCo an exclusive, worldwide
sub-licensable license to any Background Intellectual Property. On completion
of the Evaluation Results, the Company has an option to license the Evaluation
Results into NewCo for a 15% equity holding under pre-agreed terms.

NewCo will seek external non-dilutive and dilutive funding and ValiRx (and
potentially other investors arranged by ValiRx) may, subject to availability
of funds, provide up to £2 million of seed funding ("Seed Funding"). Any such
Seed Funding would be provided in tranches in line with the cash requirements,
in exchange for further equity under a development plan provided by the
Company. Funding other than the Seed Funding shall dilute all shares pari
passu.

Alternatively, if within 30 days of the completion of the evaluation, ValiRx
elects not to proceed with the license for equity, the rights to the
Evaluation Results will be assigned to the Institutions and, if the
Institutions then out-license, sell or otherwise commercialise the Technology
at any time following the evaluation period, ValiRx will be entitled to a cash
payment of 1.5x its total investment (estimated at no more than £150,000)
from IRICoR.

Mark Eccleston, CEO of ValiRx commented "I am excited to announce this
Evaluation Agreement with McGill and IRICoR, who have already carried out
extensive development work on this high quality, second-generation RNA
Helicase Inhibitor making it one of the latest stage assets we've been able to
access. We have performed extensive due diligence on the technical, clinical
and commercial positioning of this asset and see significant opportunities in
the human and veterinary health markets. The structure of the agreement
reflects the quality and stage of the asset, the value Inaphaea can bring, and
a desire from all parties to secure external funding to support rapid
translation to a clinical candidate."

Martin Gouldstone, Chairman of ValiRx commented "This is an important
agreement with McGill and IRICoR as it reflects ValiRx's commitment to
identifying, developing and partnering high quality, later stage assets that
are closer to the clinic and therefore commercialisation. This new style
agreement envisages additional, external, investment into the NewCo set up to
commercialise the results alongside future investments from ValiRx. This
approach to diluting individual assets rather than ValiRx plc is designed to
maximise the use and impact of our funding."

Claude Larose, VP Business Development at IRICoR commented "We are delighted
to be working with Inaphaea ValiRx and to commercialise our RNA Helicase
asset. In parallel, we will set up a commercial entity with a strategic
objective to maximise the clinical and commercial value of the Evaluation
Results and original data and look forward to working with ValiRx and their
appointed directors to secure additional investment. For clinical development
we envisage the NewCo may (1) out-license the Technology and Background
Intellectual Property to a biopharmaceutical partner, (2) raise additional
institutional capital to independently advance the program into clinical
studies, or (3) pursue a strategic transaction, including a potential sale or
merger. This structure provides multiple pathways to value creation while
maintaining alignment between ValiRx, McGill and IRICoR."

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 ***

Engage with the ValiRx management team directly by asking questions, watching
video
summaries and seeing what other shareholders have to say. Navigate to
our Interactive Investor
hub here: https://valirx.com/s/cc8ef3
(https://valirx.com/s/cc8ef3)

For more information, please contact:

 Investor questions on this announcement                                      https://valirx.com/link/exkQJy

 We encourage all investors to share questions on this announcement via our
 investor hub
 ValiRx plc                                                                   Tel: +44 115 784 0025

                                                                              www.valirx.com (http://www.valirx.com)

 Dr Mark Eccleston, CEO                                                       Mark.Eccleston@valirx.com

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

 Liam Murray / Ludovico Lazzaretti

 Shard Capital Partners LLP (Sole Broker)                                     Tel: +44 (0) 20 7186 9000

 Damon Heath

 V Formation (Public Relations)                                               +44 (0) 115 787 0206

                                                                              www.vformation.biz (http://www.vformation.biz)

 Lucy Wharton - Senior PR Executive                                           lucy@vformation.biz

 Sue Carr - Director                                                          sue@vformation.biz

 

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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)

 

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