KTH222 Evaluation Agreement Concluded

RNS Number : 9600Z

ValiRx PLC

27 May 2021

 

27 May 2021

VALIRX PLC

("ValiRx", the "Company" or the "Group")

KTH222 Evaluation Agreement Concluded

London, UK - ValiRx plc (AIM:VAL), a clinical stage drug development company announces that further to the notification made on 10 November 2020 it has concluded its agreement in relation to the evaluation of the KTH222 peptide as a drug candidate announced on 10 November 2020 for treating patients with ovarian cancer.

ValiRx announced on 10 November 2020 that it had entered into an agreement with Kalos Therapeutics ("Kalos"), whereby ValiRx would perform a range of preclinical evaluation experiments to determine whether to enter a full licensing agreement for the therapeutic candidate.

At the conclusion of the estimated six-month evaluation schedule, ValiRx has elected to terminate the agreement and has returned all data generated to Kalos.

Dr Suzy Dilly, Chief Executive Officer commented:

"The agreement with Kalos is a good example of our new strategy to perform a considered yet straightforward assessment of best-fit between scientific programmes and the Company. By identifying early in this process that KTH222 is not a good strategic fit for our pipeline, we have been able to return the asset to the originators and continue our efforts to seek new science to bring into the Company.  We look forward to presenting the next new project to the pipeline in due course."

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Ends

For further information please contact:

ValiRx plc	Tel: [phone] www.valirx.com
Suzanne Dilly, CEO	[e-mail]
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray / Jo Turner / Ludovico Lazzaretti	Tel: [phone]
Peterhouse Capital Limited (Sole Broker) Duncan Vasey / Lucy Williams / Eran Zucker	Tel: [phone]
Optimum Strategic Communications Supriya Mathur/ Shabnam Bashir	Tel: [phone] [e-mail]

About ValiRx plc

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/

 

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