CRT / Cronos agreement extension

Embargoed: 07:00 - 14th May 2007

                                  VALIRX PLC                                   

                          ("ValiRx" or the "Company")                          

               Cancer Research Technology & Cronos Therapeutics                

                          - extends scope of agreement -                          

ValiRx (AIM: VAL), the cancer therapeutics company, today announces the
extension of the scope of the agreement between its subsidiary, Cronos
Therapeutics Ltd ("Cronos"), and Cancer Research Technology Limited ("CRT"),
the specialist oncology development and commercialisation company owned by
Cancer Research UK. The extended agreement allows for three new potential
GeneICE compounds to be added to the collaboration with CRT in addition to the
original compound. The GeneICE compounds under review by CRT could be relevant
to the treatment of five cancers: ovarian, prostate, testicular, breast and
pancreatic.

The collaboration is investigating the potential of GeneICE compounds to halt
the development and growth of cancerous cells by preventing the transcription
of specific genes involved in tumourigenesis.

The three new compounds are novel experimental GeneICE molecules. Under the
terms of the agreement, key cellular experiments to explore the therapeutic
potential of the new GeneICE molecules will be conducted in parallel with the
existing GeneICE programme at the Cancer Research UK Clinical Centre at St
Bartholomew's Hospital and The Royal London Hospital.

Dr Satu Vainikka, CEO of ValiRx, commented:

"This represents a significant development in our relationship with CRT - and
whilst further significant research needs to be done, we clearly recognise the
commercial opportunities that could arise given that the Company holds the
worldwide exclusive licence for the development and commercialisation of
GeneICE compounds."

Dr Phil L'Huillier, CRT's Director of Business Management, added:

"We are delighted to be extending the scope of our GeneICE research activity
and facilitating a better understanding of the potential role GeneICE compounds
can play in the treatment of a broad range of cancers."

                                  --- ENDS---                                  

Notes to Editors:

Cronos' GeneICE technology enables the selective silencing of specific genes in
humans and animals by targeted histone deacetylation leading to chromatin
condensation.

Information on Cancer Research Technology Limited

CRT is a specialist technology transfer company which aims to develop new
discoveries in cancer research for the benefit of cancer patients. CRT is
wholly owned by Cancer Research UK, the largest independent funder of cancer
research in the world. CRT works closely with leading international cancer
scientists and their institutes to protect intellectual property arising from
their research and to establish links with commercial partners. CRT facilitates
the discovery, development and marketing of new cancer therapeutics, vaccines,
diagnostics and enabling technologies. Further information about CRT can be
found at www.cancertechnology.com

Information on Cancer Research UK

Together with its partners and supporters, Cancer Research UK's vision is to
beat cancer. The charity carries out world-class research to improve
understanding of the disease and find out how to prevent, diagnose and treat
different kinds of cancer. It ensures that its findings are used to improve the
lives of all cancer patients. Cancer Research UK helps people to understand
cancer, the progress that is being made and the choices each person can make.
The charity works in partnership with others to achieve the greatest impact in
the global fight against cancer. For further information about Cancer Research
UK's work or to find out how to support the charity, please call [phone]
8820 or visit www.cancerresearchuk.org

Information on ValiRx plc

ValiRx is a biopharmaceutical development company that is building a portfolio
of complementary cancer-related therapeutic and diagnostic technologies. It
currently holds stakes in Cronos and Morphogenesis Inc;

  * Cronos holds licenses to two innovative and potentially market changing
    technologies, GeneICE and HyperGenomics;
   
  * Morphogenesis Inc. is developing a portfolio of cell therapy products for
    the treatment of chronic disorders. Its most advanced product, being
    ImmuneFxâ„¢ for which it recently received a patent from the US patent
    office.
   
ValiRx is headquartered in London, England.

Contact Details:

     ValiRx Plc          WH Ireland         GTH Communications    
                                                                  
  Dr Satu Vainikka     David Youngman        Toby Hall / Jade     
                                                Mamarbachi        
                                                                  
[phone]   [phone]     [phone]   
                            2174