REG - ValiRx PLC - Termination of Letter of Intent with TheoremRx

ValiRxAnnouncement

03/04/2025 07:00

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RNS Number : 4376D  ValiRx PLC  03 April 2025

3 April 2025

 

ValiRx PLC

("ValiRx" or the "Company")

 

Termination of Letter of Intent with TheoremRx Inc

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health announces that, further to
the announcement on 31 December 2024 to grant a final extension of exclusivity
to TheoremRx Inc ("TheoremRx") under the letter of intent ("LOI") until 31 May
2025, the Company has terminated the LOI with TheoremRx with immediate effect
by mutual agreement.

The termination of the LOI follows notification by TheoremRx of a decision not
to proceed with an amendment to the LOI to return the territory of Taiwan and
maintain exclusivity in exchange for a non-refundable payment of $200,000 by
31 March 2025.

VAL201 will be moved to a prostate cancer focussed special purpose vehicle
within ValiRx and plans to file IP to extend the patent life. The Company has
recieved interest from a new consortium regarding the asset and is in early
stage discussions with charities regarding possible support for clinical
development.

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.

 

Mark Eccleston, CEO of ValiRx commented "Whilst the decision to terminate the
LOI is obviously disappointing, we have contingencies for this eventuality.
Moving VAL201 into a prostate cancer focussed SPV will give us the opportunity
to file and develop new, ValiRx owned, IP based on in house technical knowhow
to reset the patent coverage back to 20 years with proof of concept data for
Val201 2.0 and to seek new partnerships from a position of strength. We will
apply the same level of technical and comercial assessment applied to all new
evaluation programs."

*** ENDS ***

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 ValiRx plc                                        Tel: +44 115 784 0026

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

 Dr Mark Eccleston, CEO                            Mark.Eccleston@valirx.com

 Cairn Financial Advisers LLP (Nominated Adviser)  Tel: +44 (0) 20 7213 0880

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 Shard Capital Partners LLP (Sole Broker)          Tel: +44 (0) 20 7186 9000

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 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

 

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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)

 

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