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REG - ValiRx PLC - Update on proposed sub-license of VAL401

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RNS Number : 8786M  ValiRx PLC  20 November 2024

20 November 2024

 

ValiRx PLC

("ValiRx" or the "Company")

 

Update on proposed sub-license of VAL401

 

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 exclusive Option Agreement announced on 5 December 2023 between ValiSeek
Limited ("ValiSeek") and Ambrose Healthcare Limited ("Ambrose Healthcare"),
the Company has received notification from Ambrose Healthcare to exercise a
six month extension to the option period granted to it under the original
agreement (the "Extension").

Under the Extension, Ambrose Healthcare has a further 6-month period of
exclusivity under which it may exercise the option to execute a global,
exclusive license of Valiseek's VAL401 asset under pre-agreed terms.

All other terms remain unchanged with Ambrose Healthcare commiting to
completing development and commercialisation of VAL401 at Ambrose's cost.

VAL401 is in development for Pancreatic ductal adenocarcinoma.

 

Mark Eccleston, CEO of ValiRx commented "This 6 month extension was available
to Ambrose Healthcare under the terms of the initial agreement and has been
exercised to give them further time to complete their funding process."

*** ENDS ***

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.

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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