REG - ValiRx PLC - Update on proposed sub-license of VAL201

ValiRxAnnouncement

08/06/2023 07:00

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RNS Number : 0217C  ValiRx PLC  08 June 2023

ValiRx PLC

("ValiRx" or the "Company")

Update on proposed sub-license of VAL201

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health, further to the
announcement on 23 March 2022 announces a change to the terms to the Letter of
Intent ("LOI") signed with TheoremRx Inc ("TheoremRx"). The exclusivity
provided has been restricted geographically and no longer covers the Greater
China region.  Until further review, exclusivity remains in place for
TheoremRx for all other regions.

The LOI and proposed Licence Agreement (as referred to in the announcement of
2 November 2021) remain non-binding and there is no guarantee that this
Licence Agreement will be executed or that it will generate material revenues
within the expected timeframe or at all.

Dr Suzanne Dilly, CEO of ValiRx commented, "Global exclusivity was initially
awarded to TheoremRx to enable the progression of their financing, which on
completion will enable execution of the sub-license of VAL201 to TheoremRx.
We remain fully supportive of the TheoremRx team and continue to closely
monitor their progress. However, this modification to the agreement allows
ValiRx to explore additional partners in a defined geographic region while
TheoremRx continue their process. Recent evidence suggests that China is
increasing investment in innovative pharmaceutical development and may offer
additional routes for commercialisation."

The Directors of the Company take responsibility for this announcement.

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)

 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

 Dale Bellis/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)

 

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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