Re Commercial Development Update

RNS Number : 3478Y

ValiRx PLC

21 February 2013

 

For release at 0700 on 21 February 2013

VALIRX PLC

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

Re Commercial development update

"Appointment of Chief Commercial Officer to Further Advance the Commercialisation of ValiRx's Portfolio of Innovative Technologies" 

ValiRx Plc (AIM: VAL), a life science company in clinical development with anti-cancer diagnostics and therapeutics for personalised medicine, announces the appointment of Samuel Ogunsalu as CCO to assist the Group in building and adding value to its portfolio of technologies and to coordinate ValiRx's commercial strategy.

Samuel has a background in Microbiology and Biochemical engineering and has 15 years' experience in the identification and commercialization of early and mid-stage life-science opportunities and in the out-licensing of portfolio technologies.  Previously, he has provided advice and helped coordinate on the commercialisation of AIM-listed biotech companies in the UK as well as small-cap US listed companies.

He has previously held positions as the Head of Commercialisation and the sector specialist for Life-Sciences at the Knowledge East Partnership, as well as the Principle Executive of Commercial Development at Queen Mary Innovation Limited ("QMI"), the technology development and innovation company, out of Queen Mary College, University of London.

In both roles, he facilitated company and technology development and positioned companies or their technologies, such that they achieved maximum capital or asset vale for out-licensing and sale. He has negotiated and closed on a number of license and collaborative deals with a range of companies as well as providing a number of exits for early investors in Biotechnology in the biotech and pharmaceutical space.

Dr Satu Vainikka, CEO, commented: "I am delighted to be working with Sam again, this time under the ValiRx umbrella and I look forward to benefitting from his past experience, contacts and intimate understanding of the challenges associated with the commercialisation and further development of companies and technologies in our space.  ValiRx is now ready to change gear and Sam will help us to exploit value in our IP portfolio and prepare the Group for out-licensing partnerships and taking ValiRx to the next stage".

- ENDS -

For more information, please contact:

ValiRx plc	Tel: [phone]
Dr Satu Vainikka	www.ValiRx.com
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:

1.  ValiFinn is the biomarkers and diagnostic development division

2.  ValiPharma is the therapeutics division with two embedded technologies primarily directed at the treatment of cancers.

 

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