ValiRx PLC Update on proposed sub-license of VAL201 (0217C)
08 Junio 2023 - 1:00AM
UK Regulatory
TIDMVAL
RNS Number : 0217C
ValiRx PLC
08 June 2023
ValiRx PLC
("ValiRx" or the "Company")
Update on proposed sub-license of VAL201
London, UK - ValiRx Plc (AIM: VAL), a life science company
focusing on early-stage cancer therapeutics and women's health,
further to the announcement on 23 March 2022 announces a change to
the terms to the Letter of Intent ("LOI") signed with TheoremRx Inc
("TheoremRx"). The exclusivity provided has been restricted
geographically and no longer covers the Greater China region. Until
further review, exclusivity remains in place for TheoremRx for all
other regions.
The LOI and proposed Licence Agreement (as referred to in the
announcement of 2 November 2021) remain non-binding and there is no
guarantee that this Licence Agreement will be executed or that it
will generate material revenues within the expected timeframe or at
all.
Dr Suzanne Dilly, CEO of ValiRx commented , "Global exclusivity
was initially awarded to TheoremRx to enable the progression of
their financing, which on completion will enable execution of the
sub-license of VAL201 to TheoremRx. We remain fully supportive of
the TheoremRx team and continue to closely monitor their progress.
However, this modification to the agreement allows ValiRx to
explore additional partners in a defined geographic region while
TheoremRx continue their process. Recent evidence suggests that
China is increasing investment in innovative pharmaceutical
development and may offer additional routes for
commercialisation."
The Directors of the Company take responsibility for this
announcement.
For more information, please contact:
ValiRx plc Tel: +44 (0) 2476 796496
www.valirx.com
Dr Suzanne Dilly, CEO Suzanne.Dilly@valirx.com
V Formation (Public Relations) +44 (0) 115 787 0206
www.vformation.biz
Lucy Wharton - Senior PR Executive
Sue Carr - Director lucy@vformation.biz
sue@vformation.biz
--------------------------
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213
Adviser) 0880
Liam Murray/Jo Turner/Ludovico Lazzaretti
--------------------------
Cenkos Securities plc (Joint Broker) Tel: +44 (0) 20 7397
8900
Dale Bellis/Michael Johnson (Sales)
Callum Davidson/Giles Balleny (Corporate
Finance)
--------------------------
Turner Pope Investments (Joint Broker) Tel: +44 (0) 20 3657
James Pope / Andy Thacker 0050
--------------------------
Notes for Editors
About ValiRx
ValiRx is a life science company focused on early-stage cancer
therapeutics and women's health, accelerating the translation of
innovative science into impactful medicines to improve patient
lives.
ValiRx provides the scientific, financial, and commercial
framework for enabling rapid translation of innovative science into
clinical development.
Using its extensive and proven experience in research and drug
development, the team at ValiRx selects and incubates promising
novel drug candidates and guides them through an optimised process
of development, from pre-clinical studies to clinic and
investor-ready assets.
ValiRx connects diverse disciplines across scientific,
technical, and commercial domains, with the aim of achieving a more
streamlined, less costly, drug development process. The team works
closely with carefully selected collaborators and leverages the
combined expertise required for science to advance.
Lead candidates from ValiRx's portfolio are outlicensed or
partnered with investors through ValiRx subsidiary companies for
further clinical development and commercialisation.
ValiRx listed on the AIM Market of the London Stock Exchange in
October 2006 and trades under the ticker symbol: VAL.
For further information, visit: www.valirx.com
Cautionary statement
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
assumptions and are subject to a number of risks and uncertainties
that could cause actual events or results to differ materially from
any expected future events or results expressed or implied in these
forward-looking statements. Persons receiving this announcement
should not place undue reliance on forward-looking statements.
Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or
revise any forward-looking statements, whether as a result of new
information, future developments or otherwise.
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