ValiRx PLC Evaluation Agreement with StingRay Bio (0139T)
10 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMVAL
RNS Number : 0139T
ValiRx PLC
10 November 2023
ValiRx PLC
("ValiRx" or the "Company")
Evaluation Agreement with StingRay Bio
London, UK - ValiRx Plc (AIM: VAL), a life science company
focusing on early-stage cancer therapeutics and women's health, has
entered into an agreement with StingRay Bio Limited ("StingRay") to
investigate a lead series of drug candidates for use in
oncology.
The lead series of molecules has been developed by StingRay
using a target-based drug design approach, to create novel
candidate drugs for kinases with well-validated links to cancer.
Under the agreement, the Company will carry out a defined series of
preclinical tests on the molecules over the next twelve months to
validate the technology and determine suitability for
commercialisation.
This preclinical evaluation will investigate the action of the
molecules against a range of cancer types. Research conducted at
Inaphaea BioLabs and collaborative partners will progress lead
optimisation of the lead series molecules and ascertain activity,
utilising patient derived cells from the recently acquired Imagen
biobank; as well as assessing safety profiles of lead candidates
nominated from within the series.
The cost of the work will be borne by ValiRx and will be capped
at GBP100,000 over the twelve month period. At the conclusion of
the evaluation period the Company has an option to license the
technology on pre-agreed terms.
Dr Suzy Dilly, CEO of ValiRx commented "It is hugely exciting to
have another evaluation agreement commencing, particularly one such
as this which has a high pedigree of medicinal chemistry behind it
to build the lead series of molecules for us to continue its
optimisation. I'm looking forward to working closely with the team
at StingRay to continue the project."
Jeff Roix, CEO of Stingray Bio says, "We look forward to further
progress in our evaluation agreement with ValiRx. With great
innovation provided by its Inaphaea team and novel Imagen assets,
we believe ValiRx's efforts can help realise the commercial
potential of StingRay's founding contributions in new cancer
therapeutics."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR"). 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
--------------------------
Cavendish 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
About StingRay Bio
StingRay Bio is a UK biotech incorporated in 2021 to develop
novel cancer therapeutics. Founded in collaboration with Professor
John Spencer and Professor Georgios Giamas at the University of
Sussex, StingRay Bio has created an intellectual property estate of
highly specific kinase inhibitors for cancer therapy. With
indications for treating breast and other cancers that are common
in women, Stingray Bio continues its mission to deliver impactful,
differentiated therapies to cancer patients with high unmet
needs.
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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