ValiRx Acquires Global Rights

RNS Number : 6291Y

ValiRx PLC

09 July 2008

 



9 July 2008

ValiRx plc

ValiRx Acquires Global Rights to Novel Compound 

Targeted at Prostate Cancer 

9 July 2008, London ….. ValiRx plc (AIM:VAL, 'ValiRx'), the cancer therapeutics and diagnostics company, has entered into a Licence Agreement with Cancer Research Technology Limited ('CRT') to evaluate a novel prostate cancer compound (coded VAL201) that has been found in vivo (pre-clinical) to arrest prostate cancer growth.

Under the terms of the License Agreement with CRT, ValiRx has a period of twelve months in which to complete the pre-clinical regulatory development of VAL201 including toxicology, prior to exercising its option to acquire exclusive worldwide rights to the compound as an anti-cancer agent and subsequently progress to clinical trials.

Annual global sales of prostate cancer drugs are estimated to be US$3 billion. With an ageing population and more effective screening and diagnostic technologies among other advances, each year 35,000 men are diagnosed with prostate cancer in the UK alone. In common with other cancers, early detection of prostate cancer gives the best chance of survival, yet presently the tumour claims 10,000 lives annually.

The Directors believe that VAL 201 has the potential to add significant value to ValiRx subject to the compound reaching the remaining pre-clinical and clinical milestones; early studies have thus far indicated that this lead drug candidate may also stop tumour growth in patients who are unresponsive to current treatments.

Satu Vainikka, CEO of ValiRx, commented:

'This agreement further extends our relationship with Cancer Research Technology and expands our portfolio of late pre-clinical compounds. If successful, VAL 201 could offer the potential for novel treatment approaches to prostate cancer treatment where there is currently unmet need.'

Dr Phil L'Huillier, CRT's director of business management, said:

'We are very pleased to enter into an agreement for ValiRx to take forward into preclinical development this promising compound for the potential treatment of men with hormone resistant prostate cancer.'

- Ends -

Notes to editors

VAL 201

The novel VAL 201 compound works by inhibiting the gene-based activity of a key molecule responsible for prostate cancer progression.

About ValiRx plc

ValiRx plc (AIM:VAL, 'ValiRx') is a cancer therapeutics and diagnostics company headquartered in London, England and admitted to AIM in October 2006. The Company operates through two subsidiaries, Cronos Therapeutics Ltd (www.cronostherapeutics.com), a UK-based epigenetic drug discovery and development business and ValiBIO SA (www.valibio.com), a Belgium-based oncology diagnostics operation.

Therapeutics - Cronos Therapeutics Ltd

ValiRx utilises a cells own inherent gene control machinery to silence genes involved in cancer cell progression, effectively 'switching off' genes involved in certain forms of cancer through its platform technology GeneICE™ (Gene Inactivation by Chromatin Engineering),. GeneICE™ works through the recruitment of silencing complexes known as Histone Deacetylase Complexes (HDACs) to target genes involved in cancer. ValiRx's lead product VAL 101 targets the anti-apoptotic gene BCL-2 which is over expressed in many cancers including in pancreatic cancer.

Gene silencing technology platform potentially represents an innovative and ground breaking new approach to cancer treatment as it allows for the development of targeted, personalised medicine and treatment for patients. GeneICE™ is also applicable to a wide variety of other genetic disorders such as in the fields of neurology and inflammatory diseases.

Diagnostics - ValiBIO SA 
ValiRx currently has two epigenetic diagnosis products - HyperGenomicsTM, a method for the detection and identification of hypersensitive sites in cells and NucleosomicsTM, a non-invasive (blood) test for early cancer diagnosis based on epigenetic signal changes associated with malignancy - which it licences to its subsidiary, ValiBIO.

More information on the Company can be found at www.valirx.com

Cancer Research Technology
Cancer Research Technology Limited (CRT) is a specialist commercialisation and development company, which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT works closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners.

CRT facilitates the discovery, development and marketing of new cancer therapeutics, vaccines, diagnostics and enabling technologies. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world.  Further information about CRT can be found at www.cancertechnology.com 

Contact Details:

College Hill	[phone]
Sue Charles, Justine Lamond	[e-mail]
ValiRx
CEO Dr. Satu Vainikka	[phone]
Cancer Research Technology (CRT)	[phone]
Josie Gray	[e-mail]
WH Ireland Ltd
David Youngman / Adrian Kirk	[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

 

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