Re Agreement

RNS Number : 3074A

ValiRx PLC

29 March 2012

 

29 March 2012

ValiRx Plc

("ValiRx" or the "Company")

Re Agreement

"Material Transfer Agreement concluded with the Institut Paoli & Calmettes ("IPC")

in Marseilles, France to progress lead compound, VAL201, through Clinical Trials"

ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce that it has concluded a Material Transfer Agreement ("MTA") with the Institut Paoli & Calmettes ("IPC") in Marseille, France. In the MTA, IPC will conduct translational and developmental studies on ValiRx's lead compound, VAL201 and assist the Company in the progression of VAL201 into clinical trials, for which the Company will supply the material.  IPC's work may in time become a future source of Intellectual Property ("IP") for the Company.

Late preclinical studies into VAL201, carried out in collaboration with Oxford University, have firmly established a potentially important role for the compound in treating hormone induced refractory prostate cancer and other conditions of hormone induced uncontrolled cell growth including breast and ovarian cancer, among others (reported 28/07/11). 

The manufacture of VAL201 to a regulatory compliant standard otherwise known as Good Manufacturing Practice (GMP) has been successful.  VAL201is currently undergoing regulatory toxicology studies and the GMP produced compound will allow completion in a timely manner.

Professor Jean-Paul Borg, Scientific Director of the IPC will lead studies in Marseilles into the detailed molecular interaction and mimics of VAL201.  For the past three years, he has been identifying compound targets and more specifically, has been studying SRC (otherwise known as sarcoma) proteins and their interaction with hormones and their link to cancer. Dr Jean-Frédéric Sauniere, who is on ValiRx's Scientific Advisory Board, is currently medical oncologist at the IPC, where he coordinates the translational research and early clinical research activities of the Institute.

Professor Jean-Paul Borg, Chief Scientific Officer atIPC, commented:

 "We are delighted to enter into this agreement and look forward to conducting the various translation research studies required to enhance VAL201's product profile and prepare the groundwork for early clinical trials.  Potential indications for the compound are prostate cancer and breast cancer and we consider this R&D collaboration as a step forward for the development of VAL201."

Dr Satu Vainikka, CEO, commented: "I am very pleased that we have concluded this agreement with IPC and greatly look forward to working with Professor Borg and his team.  IPC is an internationally recognised centre of excellence for the study of cancer and it is one of our potential Phase One clinical centres. This is another successful step along the way as VAL201 heads towards the clinic."

- ENDS -

For more information, please contact:

ValiRx plc	Tel: [phone]
Dr Satu Vainikka	www.ValiRx.com
Cairn Financial Advisers LLP - (Nominated Adviser)	Tel:[phone]
Liam Murray / Avi Robinson
Hybridan LLP (Broker)	Tel: [phone]
Claire Louise Noyce / Deepak Reddy
Peckwater PR	Tel: [phone]
Tarquin Edwards	[e-mail]

Notes for Editors

ValiRx Plc

ValiRx Plc is a biopharmaceutical company developing novel technologies and products in oncology therapeutics and diagnostics. The product focus is in the epigenomic analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.

The Company listed on AIM in October 2006 and is creating a portfolio of innovative products through investment in specific development projects. It actively manages projects within this portfolio as a trading company and is not an investment vehicle. The ValiRx business model spreads the risks of life science technology developments by minimising financial exposure and running a set of projects to defined commercial endpoints. This maximises returns to shareholders by adding value at the earlier stages where value increases per investment unit are the greatest.

The Company operates through the following divisional companies:

·       ValiMedix is the sales and distribution division of ValiRx

·       ValiPharma is the therapeutics division with two embedded technologies primarily directed at the treatment of cancers. Of particular note is GeneICE, ValiRx's technology for controlling rebellious genes, which was awarded a Eurostars grant to the value of €1.2 million to fund the development of the GeneICE products through to the preclinical stages in cancer treatments

 

END

 

 

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