REG - ValiRx PLC - Placing to raise £0.5 million <Origin Href="QuoteRef">VALX.L</Origin>

ValiRxAnnouncement

17/02/2016 13:00

RNS Number : 3605P
ValiRx PLC
17 February 2016
17 February 2016
ValiRx Plc
("ValiRx" or the "Company")
Placing to raise 0.5 million
ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce following yesterday's positive VAL201 clinical update, that it has raised gross proceeds of 502,480 by way of a placing of 4,187,333 new ordinary shares ("Placing Shares") at a price of 12 pence per share ("Placing"). The net proceeds of the Placing will be used for ongoing drug development and for general working capital purposes. 
Dr Satu Vainikka, Chief Executive of ValiRx Plc, commented:"We are delighted to be able to raise additional funds through this equity placing in a challenging market. These funds will enable the Company to progress the clinical trial activity that was recently announced."
The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company. Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ("Admission").It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00am on or around 23 February 2016.
Following Admission, the Company's enlarged issued share capital will comprise 42,526,184 ordinary shares of 0.1p each with voting rights. The Company does not hold any shares in treasury. This figure of 42,526,184 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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For more information, please contact:
ValiRx plc
Tel: +44 (0) 20 3008 4416
Dr Satu Vainikka, Chief Executive
Tarquin Edwards, Head of Comms
www.valirx.com
Tel: +44 (0) 7879 458 364
tarquin.edwards@valirx.com


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





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







About 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 listed onthe AIM market 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 minimizing financial exposure andrunning a set of projects todefined commercial endpoints. This maximizes returns to shareholders by adding value at the earlier stages where value increases per investment unit are thegreatest.
The Company operates through the following 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. ValiRx acquired through its ValiFinn subsidiary, the complimentary TRAC technology to strengthen the portfolio.
3. ValiSeek is a joint venture between ValiRx and Tangent Ltd to develop VAL401 in lung cancer and potentially other indications.

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