REG - ValiRx PLC - Re Contract <Origin Href="QuoteRef">VALX.L</Origin>

ValiRxAnnouncement

15/07/2015 16:25

RNS Number : 4159M
ValiRx PLC
07 May 2015
ValiRx Plc
('ValiRx' or the 'Company')
re NEW CONTRACT
"TRAC, ValiRx's newly acquired Finnish gene expression & biomarker technology 
secures its firstcontract with Admescope Limited"
London, UK, 7 May 2015 - ValiRx Plc (AIM: VAL), a life science company with a focus on cancer therapeutics and diagnostics for personalised medicine, today announces a contract has been secured with Admescope Limited ("Admescope"), for access to ValiRx's newly acquired 'TRAC' Finnish gene expression & biomarker technology. 
The assets and intellectual property rights of TRAC were originally acquired by ValiRx at the beginning of 2015 (announced 05/02/15) for use by its wholly owned biomarker unit, ValiRx Finland Oy (ValiFinn"), based in Oulu, Finland. 
Under the terms of the agreement, Admescope has agreed a global, non-exclusive license from ValiFinn to use the TRAC technology in its provision of toxicological testing services to drug discovery and development companies.
Admescope possesses expertise in the field of bioanalytical chemistry and ADMET research and it provides services in the fields of drug discovery and development research.
This is the first contract for TRAC technology under the ownership of ValiRx and the directors hope is the prelude to a number of other opportunities utilising the TRAC technology, which are being worked on by the company in association with a range of organisations across the drug development industry.
The Board of ValiRx believes that the strategic acquisition of the TRAC technology enhances ValiFinn's biomarker development and service offering, by providing a high-content gene expression analysis platform. It also provides the possibility for the provision of additional services and partnering opportunities. Additionally there are out licensing opportunities for specific applications that are being explored. 
The technology is an important tool in the development of ValiRx's oncology biomarkers both in support of the Group's developing oncology drug pipeline and more widely as a new income source.
Dr Satu Vainikka, CEO of ValiRx, commented:
"The acquisition of the TRAC technology strengthens our biomarker capabilities. This contract - the first since we acquired the business, validates the fact that there is a strongly growing market and licensing opportunity for the technology and I look forward to securing future contracts and to building the biomarker platform into a potentially successful business".
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For more information, please contact:
ValiRx Plc
Tel: +44 (0)20 3008 4416
Dr Satu Vainikka
www.ValiRx.com


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



Daniel Stewart & Company Plc (Broker)
Tel: +44 (0)20 7776 6550
Martin Lampshire

Peckwater PR
Tel: +44 (0)7879 458 364
Tarquin Edwards
tarquin.edwards@peckwaterpr.co.uk
Notes for Editors 
TRAC ("Transcript Analysis with the Aid of Affinity Capture")
TRAC enables the efficient screening of a large number of drug candidates for a wide range of genetic safety and efficacy markers. Biomarkers are imperative for personalised medicine and add value as well as increase the competitiveness for any therapeutic approach in oncology.
The technology platform already has an established customer base and it has been generating revenue since 2012 without the benefit of an emphasis or focus on sales and marketing. Going forward, ValiRx will look to leverage upon TRAC's market presence and grow the sales of this diagnostic business. The Company believes that together with clinical validation, revenues from TRAC will grow, which will support both the biomarker and therapeutic development businesses. The Company also believes that ValiFinn, which is itself already generating revenues, is well placed to further develop as a service/licensing business.
The TRAC method was originally in development for over 10 years at VTT (Finnish State Research Centre) before its completion and launch in 2011. The technology is accurate, efficient, fast acting and low cost and has the advantage that competing technologies cannot provide a similar optimal combination of accuracy and flexibility to fulfill customer demands cost-effectively. It has been tested in over 50 pre-launch projects for customers in Europe and the US and these include leading global pharmaceutical companies and Contract Research Organisations. 
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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