REG - ValiRx PLC - Notification of US Patent Grant for VAL401 <Origin Href="QuoteRef">VALX.L</Origin>

ValiRxAnnouncement

29/04/2016 07:05

RNS Number : 7339W
ValiRx PLC
29 April 2016
29 April 2016
ValiRx Plc
("ValiRx" or "the Company")
ValiSeek Update
"Notification of US Patent Grant for VAL401"
ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce that ValiSeek Limited ("ValiSeek"), the joint venture between ValiRx and Tangent Reprofiling Limited ("Tangent"), has received notification today from Tangent that a US patent covering the use of VAL401 as a treatment for adenocarcinoma has been allowed by the US patent office.
Adding to the earlier US patent grant covering the composition of formulation for VAL401, as announced on 14 May 2015, the directors of ValiSeek believe this announcement to be further validation of the innovative scientific foundation behind and supporting the VAL401 project just as the up coming clinical trial has been designed to provide validation of the clinical applicability. 
Dr Suzanne Dilly, CEO of ValiSeek Limited, commented:"This further US patent has been allowed at an opportune moment as we progress through our clinical trial preparations. At such a late stage in our preparations of the Clinical Trial for VAL401 the fact that the compound is now in receipt of additional IP protection, adds value to shareholder funds and further endorses our joint venture."
Dr Satu Vainikka, CEO of ValiRx plc, added: "This is a powerful confirmation of the science lieing behind VAL401 and I very much look forward to following VAL401 on its clinical trial pathway."
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For further information on the Company, visit: www.valirx.com:
ValiRx plc
Tel: +44 (0) 20 3008 4416
Dr Satu Vainikka, Chief Executive
Tel: +44 (0) 20 3008 4416
Tarquin Edwards, Head of Communications.
Tel: +44 (0) 7879 458 364
tarquin.edwards@valirx.com
Mark Treharne, Corporate Development Manager
Tel: +44 (0) 7736 564 686
mark.treharne@valirx.com


Cairn Financial Advisers LLP (Nominated Adviser)
Tel: +44 (0) 20 7148 7900
Liam Murray



Northland Capital Partners Limited (Broker)
Tel: +44 (0) 20 7382 1100
Patrick Claridge / David Hignell (Corporate Finance)
John Howes / Abigail Wayne (Broking)

Notes for Editors 
About ValiSeek
ValiSeek Limited ("ValiSeek") is a joint venture ("JV") company between ValiRx Plc and Tangent Reprofiling Limited, part of the SEEK Group. ValiSeek was formed to progress the drug VAL401 through its remaining preclinical development and towards Phase II trials for the treatment of lung cancer and other oncology indications
About SEEK
Founded in 2004, SEEK (previously known as PepTcell) is privately-owned and funded, with headquarters in London, UK. SEEK brings safe and low costs medicines to the patients as quickly as possible. It does this by modifying existing medicines to improve their efficacy within current label, dose and regime, by changing the indication but keeping the dose and dosing regime the same or by creating a new medicine when the previous options are unavailable.
Additional information about SEEK is available on the Company's website located at www.seekacure.com.
ValiRx Plc
ValiRx Plc is a biopharmaceutical company developing novel technologies and products in oncology therapeutics and diagnostics. The product focus is in the epigenomic analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.
The Company has undertaken todevelop a novel and groundbreaking class of therapeutics across a number offields in oncology and has taken its lead compound, Val201, into Phase I/IIclinicaltrials. The Company listed onthe Alternative Investment Market ("AIM") of the London StockExchange in October 2006.
The Company has a pipeline ofother therapeutic drugs, which are currently progressing towards clinicaltrials. The product focus is in the targeted analysis and treatment of cancer,but thetechnologies can be applied to other fields as well, such as neurologyand inflammatory diseases.
It actively manages projectswithin its portfolio as a trading company. The ValiRx business model spreads the risks of life science technologydevelopment by minimising financial exposure andrunning a set of projects todefined commercial endpoints. This maximises returns to shareholders by adding value at the earlier stages where value increases per investment unit are thegreatest.
The Company operates through thefollowing divisional companies:
1. ValiPharma is the therapeuticsdivision, with two embedded technologies primarily directed at the treatment ofcancers.
2. ValiFinn is the biomarkers anddiagnostic development division. ValiRxacquired through its ValiFinn subsidiary, the complimentary TRAC technologylater in the year to strengthen the portfolio.
3. ValiSeek is a joint venturebetween ValiRx and Tangent Ltd to develop Val401 in lung cancer and potentiallyother indications.

This information is provided by RNS
The company news service from the London Stock Exchange
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