Re: Collaborative Agreement

RNS Number : 0902O

ValiRx PLC

13 September 2011

 

13 September 2011

ValiRx Plc

("ValiRx" or the "Company")

Re: Collaborative Agreement

"ValiRx to use Physiomics' Virtual Tumour technology

to accelerate development of promising prostate cancer drug"

ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce that its wholly-owned subsidiary, ValiPharma Limited, has signed a collaborative agreement ("Agreement") with Physiomics plc (AIM: PYC), the Oxford based systems biology company, relating to the further development and accelerated progress of VAL201, ValiPharma's anti-cancer compound.

Physiomics will use its systems biology expertise and 'Virtual Tumour' proprietary technology to assist ValiRx to accelerate the development of its lead therapeutic, VAL201, and speed its progress through the next stage of VAL201's preclinical programme to support the regulatory requirements prior to its entering clinical trials. 

The Agreement is on a revenue sharing basis, so that Physiomics will not receive a fee for their work, but will receive a percentage of any licensing income received by ValiRx for the compound for use in treating prostate cancer, in due course.  The programme will create new IP, which will add value for both parties, with ValiPharma retaining both ownership of all VAL201 associated new IP resulting from the programme and retaining all rights for the commercialisation of VAL201.

Physiomics' proprietary Virtual Tumour^TM model is used to simulate cell behaviour in response to new treatments and the results will be used to predict ideal dosing, scheduling and combination treatment regimes to enhance VAL201's potency, for the ideal clinical outcome.  The two companies will also collaborate to determine the best regimen to take forward to Phase 1 clinical trials.

This collaboration follows on from the successful late preclinical studies (announced 28/07/11) into the development of VAL201, which were carried out in collaboration with Oxford University, and which firmly established a potentially important role for VAL201 in treating hormone induced refractory prostate cancer and other conditions of hormone induced uncontrolled cell growth.  

Dr Satu Vainikka, CEO, commented: "This collaboration represents an exciting opportunity for VAL201 in its progression towards clinical trials.  I believe the shorter timelines and improved clinical outcomes achieved through access to Physiomics' technology will save us money and will increase interest in the Company with potential licensing partners.  With such a large market for treatment against hormone induced tumour growth and with such high unmet medical need, the accelerated development of VAL201 is to everyone's advantage, both to ValiRx and patients alike.

Dr Mark Chadwick, CEO of Physiomics, said:  "We are delighted to enter this new collaboration with ValiRx to advance VAL201.  This is another validation of the value added by Virtual Tumour to an early stage oncology project."

- ENDS -

For more information, please contact:

ValiRx plc	Tel: [phone]
Dr Satu Vainikka	www.ValiRx.com
Physiomics plc	[phone]
Dr Mark Chadwick, CEO	www.physiomics-plc.com
Cairn Financial Advisers LLP - (Nominated Adviser)	Tel:[phone]
Liam Murray / Avi Robinson
Hybridan LLP (Broker)	Tel: [phone]
Claire Noyce
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 preclinical stages in cancer treatments

 

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