REG - ValiRx PLC - Subsidiary Launched and IP License Signed

ValiRxAnnouncement

24/10/2022 07:00

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RNS Number : 7941D  ValiRx PLC  24 October 2022

24 October 2022

 

ValiRx PLC ("ValiRx" or the "Company")

 

Cytolytix Subsidiary Launched and IP License signed with Kings College London

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health, announces today the
formation of a new partially-owned subsidiary company, Cytolytix Limited
("Cytolytix"), and that Cytolytix has signed an IP License Agreement with
King's College London ("KCL").

Cytolytix has been established to progress the triple negative breast cancer
project, CLX001, through preclinical development to a stage of readiness for
clinical trials.  CLX001 is a peptide in a nanoparticle formulation that has
initially been developed for treatment of triple negative breast cancer, with
potential for disease expansion into ovarian and other difficult to treat
solid tumour cancers.  CLX001 is designed for precision destruction of cancer
cells to avoid excessive side effects. The novel mechanism of action allows
for broad application across various cancers as it targets the tumour
micro-environment and does not require specific cell markers or specific gene
mutations for activity.

ValiRx holds 60% of the shares in Cytolytix.  The remaining 40% is split
between King's College London (20%), and the two academic inventors of CLX001,
Martin Ulmschneider and Charles Chen (the "Inventors").  Under the IP
License, ValiRx will provide the necessary funding to Cytolytix for further
preclinical development of the technology. The IP License also covers
milestone and royalty payments between the parties, should the project be
sub-licensed in the future.

As the major shareholder, ValiRx will lead the development of CLX001 with
oversight provided by the Cytolytix Board, which comprises representative from
ValiRx, KCL and the Inventors.

ValiRx CEO, Dr Suzy Dilly commented "I am really pleased to announce the
launch of Cytolytix today.  This project is the first output of the strategy
we launched in 2020 to bring new academic projects into our pipeline and is an
excellent example of the innovative science being carried out in university
departments.  Expanding our pipeline with CLX001 is an important step towards
diversifying our pipeline and ensuring innovative R&D remains the
foundation of our Company."

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 ***

 

For more information, please contact:

 

 ValiRx plc                                          Tel: +44 (0) 2476 796496

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

 Dr Suzanne Dilly, CEO                               Suzanne.Dilly@valirx.com (mailto:Suzanne.Dilly@valirx.com)

 Dr Adam Hargreaves, Shareholder Representative      Adam.Hargreaves@pathcelerate.com (mailto:Adam.Hargreaves@pathcelerate.com)

 Kings College London (Communications)

 Jane Clarkson - Faculty Engagement Manager          nmes-comms@kcl.ac.uk.

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

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

 Lucy Wharton - Senior PR Executive

 Sue Carr - Director                                 lucy@vformation.biz

                                                     sue@vformation.biz
 Cairn Financial Advisers LLP (Nominated Adviser)    Tel: +44 (0) 20 7213 0880

 Liam Murray/Jo Turner/Ludovico Lazzaretti

 Cenkos Securities plc (Joint Broker)                Tel: +44 (0) 20 7397 8900

 Russell Kerr/Michael Johnson (Sales)

 Callum Davidson/Giles Balleny (Corporate Finance)
 Turner Pope Investments (Joint Broker)              Tel: +44 (0) 20 3657 0050

 James Pope / Andy Thacker

 

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)

 

About Kings College London

Ranked as one of the top 10 UK universities in the world*, King's provides
students with a place in one of the most connected and dynamic cities in the
world. King's is London's most central university, with five campuses in the
heart of the capital: a location which allows us to form and lead
international conversations.

 

Our faculties, institutes and schools deliver world-leading research and have
been enabling groundbreaking discoveries throughout our history. This research
continues to underpin all of King's teaching so that we can help students
realise their potential and work to make the world a better place.

*QS World University Rankings 2021

www.kcl.ac.uk
(https://eu-west-1.protection.sophos.com?d=kcl.ac.uk&u=aHR0cDovL3d3dy5rY2wuYWMudWs=&i=NTdmYjZhY2YwMGFiZGYxNGYzOTNjYzlm&t=Sm4zdGozRXFzbTY1S3BraXFVU3pMTlBGWGpuTjMyaW96QnlXTkIzalNBZz0=&h=899cf758ab874790bf49dbe8acf33ebb&s=AVNPUEhUT0NFTkNSWVBUSVbTqpexEmiUc74jlWNgGIW6PKVSahJlWq0EIU/4nLeh9w==)

 

 

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