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

ValiRxAnnouncement

30/10/2024 07:00

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RNS Number : 1320K  ValiRx PLC  30 October 2024

30 October 2024

 

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 announces that, further to
the 2024 interim results announced on 27 September 2024, the Company has
signed an amendment to the Letter of Intent ("LOI") with TheoremRx Inc
("TheoremRx"). The exclusivity provided has been extended for a limited time
period until 31 December 2024 in exchange for a 0.5% equity interest in
TheoremRx following the potential reversal into a US listed shell.

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.

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 "This time limited extension has been
granted  to allow TheoremRx to continue the progression of their financing,
which on completion will enable execution of the sub-license of VAL201 to
TheoremRx.  We remain supportive of the TheoremRx team and continue to
closely monitor their progress."

*** ENDS ***

For more information, please contact:

 

 ValiRx plc                                        Tel: +44 (0) 115 784 0026

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

 Dr Mark Eccleston, CEO                            M (mailto:Suzanne.Dilly@valirx.com) ark.eccleston@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 / Ludovico Lazzaretti

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

 Damon Heath

 

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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