Evaluation agreement with Hokkaido University

RNS Number : 9047V

ValiRx PLC

16 December 2021

 

16 December 2021

ValiRx PLC ("ValiRx" or the "Company")

Evaluation agreement with Hokkaido University

ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, has entered into an evaluation agreement with Hokkaido University (Japan) to investigate a drug candidate for use in oncology.

Under the agreement, the Company will carry out a defined series of preclinical tests on the peptide drug candidate molecule over the next twelve months to validate the technology and determine suitability for commercialisation.  This preclinical evaluation, the cost of which will be borne by ValiRx of up to £100,000, will investigate the action of the molecule against Endometrial, Pancreatic and Bile Duct Cancers.

At the conclusion of the evaluation period (December 2022), the Company has an option to license the technology on pre-agreed terms.

Dr Suzy Dilly, CEO of ValiRx commented: "The peptide drug candidate under evaluation in this agreement has been developed for a completely novel cancer target.  This cutting-edge technology has potential to enable a first in class drug development programme to be launched in these important therapeutic areas."

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.

*** ENDS ***

For more information, please contact:

ValiRx plc Dr Suzanne Dilly, CEO	Tel: [phone] www.valirx.com [e-mail]
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray/Jo Turner/Ludovico Lazzaretti	Tel: [phone]
Cenkos Securities Limited (Broker) Russell Kerr/Michael Johnson (Sales) Callum Davidson/Giles Balleny (Corporate Finance)	Tel: [phone]

Notes for Editors

About ValiRx

ValiRx accelerates the development of treatments in oncology and women's health to improve patient lives. We provide the scientific, financial and commercial framework towards enabling rapid translation of innovative science into clinical development.

With our extensive and proven experience in research and drug development, we select and incubate promising novel drug candidates and guide them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

Integrating science and business

We connect diverse disciplines across scientific, technical and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process.  We work closely with our selected collaborators and leverage the combined expertise required for science to advance.

Lead candidates from our portfolio are out-licensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation.   https://www.valirx.com/

The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

About Hokkaido University

Founded in 1876, Hokkaido University is one of the oldest, largest, and most prestigious universities in Japan. The university houses cutting-edge research facilities, a university hospital, and research centers in medical fields. Its   researchers are working towards the advancement of human knowledge and resolution of global issues through their outstanding work. Hokkaido University has two Nobel Prize laureates in chemistry (Dr. Akira Suzuki in 2010 and Dr. Benjamin List in 2021) .

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.  

 

END

 

 

AGRBQLFFFLLZFBL