REG - ValiRx PLC - Successful evaluation of breast cancer programme

ValiRxAnnouncement

13/07/2022 14:15

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RNS Number : 3803S  ValiRx PLC  13 July 2022

13 July 2022

 

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

 

Successful evaluation of triple negative breast cancer programme

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health, is pleased to announce
that the project subject to the Evaluation Agreement announced on 16 September
2021 has been successfully completed and the Company has notified the academic
team and IP & Licensing team at King's College London ("King's"), that it
wishes to proceed to full in-licensing.

The project was evaluated to confirm the impact of a peptide drug candidate
against triple negative breast cancer.  Over the past nine months, the
candidate peptide was investigated with a battery of in vitro and in vivo
tests by the Company,  it has been concluded that there is good evidence of
biological activity and a strong rationale for further development.  In
addition to triple negative breast cancer, the tests illustrated promising
data against ovarian cancer cells. The novel mechanism of action may allow
further expansion into additional hard to treat cancer types.

Commercial terms for progression have been pre-negotiated with King's such
that the project will be placed into a subsidiary of ValiRx for the next stage
of development. Documentation to support this is now under preparation.

Dr Suzy Dilly, CEO of ValiRx, commented:

"It's a really exciting step to confirm the first of our projects progressing
from evaluation stage to full in-licensing.  It has been a pleasure to work
with both the scientific and IP & Licensing teams during this evaluation
period, and we look forward to the relationship strengthening further during
the preclinical development period."

The King's research is led by Professor Martin Ulmschneider, Professor of
Computational Chemistry and the incoming Head of the Department of Chemistry
who commented:

"Working together with ValiRx has been an incredible experience, and
highlights the importance of finding great commercial partners that believe in
translating new approaches from the laboratory towards clinical application
for patient benefit. I am very excited about the journey forward with ValiRx."

 

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

 Cairn Financial Advisers LLP (Nominated Adviser)    Tel: +44 (0) 20 7213 088

 Liam Murray/Jo Turner/Ludovico Lazzaretti

 Cenkos Securities Limited (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 accelerates the development of treatments in oncology and women's
health to improve patient lives. We provide the scientific, financial and
commercial framework towards enabling rapid translation of innovative science
into clinical development.

With our extensive and proven experience in research and drug development, we
select and incubate promising novel drug candidates and guide them through an
optimised process of development, from pre-clinical studies to clinic and
investor-ready assets.

Integrating science and business

We connect diverse disciplines across scientific, technical and commercial
domains, with the aim of achieving a more streamlined, less costly, drug
development process.  We work closely with our selected collaborators and
leverage the combined expertise required for science to advance.

Lead candidates from our portfolio are out-licensed or partnered with
investors through ValiRx subsidiary companies for further clinical development
and commercialisation. https://www.valirx.com/ (https://www.valirx.com/)

The Company listed on the AIM Market of the London Stock Exchange in October
2006 and trades under the ticker symbol: VAL.

About King's 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 ground-breaking 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 (http://www.kcl.ac.uk)

Cautionary statement

Certain statements made in this announcement are forward-looking statements.
Such statements are based on current expectations and assumptions and are
subject to a number of risks and uncertainties that could cause actual events
or results to differ materially from any expected future events or results
expressed or implied in these forward-looking statements. Persons receiving
this announcement should not place undue reliance on forward-looking
statements. Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or revise any
forward-looking statements, whether as a result of new information, future
developments or otherwise.

 

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