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

ValiRxAnnouncement

31/12/2024 08:45

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RNS Number : 7407R  ValiRx PLC  31 December 2024

31 December 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 amendment to the Letter of Intent ("LOI") with TheoremRx Inc ("TheoremRx")
announced on 30 October 2024 granting an extension of exclusivity until 31
December 2024, the Company has signed a further amendment to the Letter of
Intent ("LOI") with TheoremRx . The exclusivity provided has been extended for
a final time period until 31 May 2025.

This final extension has been provided following developments announced by
TheoremRx regarding a transaction with a NASDAQ listed company which the board
at ValiRx believe may lead to a positive conclusion for the proposed
sub-license of VAL201. 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 final, time limited, extension
has been granted to allow TheoremRx to complete their M&A transaction with
a NASDAQ listed company, which is required to enable execution of the
sub-license of VAL201 to TheoremRx.  Further details on the transaction will
be made public in due course and we remain supportive of the TheoremRx team
and continue to closely monitor their progress."

*** ENDS ***

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 Investor questions on this announcement           https://valirx.com/link/lejvQe (https://valirx.com/link/lejvQe)

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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

 Liam Murray / Ludovico Lazzaretti

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

 Damon Heath

 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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