12
February 2024
VALIRX PLC
("ValiRx" or the
"Company")
Overarching agreement with
Dundee University and Initiation of Evaluation
project
ValiRx plc (the "Company") (AIM:
VAL), a life sciences company focusing on early-stage cancer
therapeutics and women's health, is today
pleased to announce signature of an over-arching agreement with
University of Dundee and their Drug Discovery Unit (DDU) to access
research relating to novel therapeutic candidates. The first
evaluation agreement under this agreement has also been signed
("Evaluation Agreement").
The over-arching agreement is scheduled to be
active for a period of five years, during which time, the Company
will have the opportunity to review research projects from the DDU
in areas aligned with the strategy of ValiRx with a view to
initiating additional evaluation projects on pre-defined
terms.
The first Evaluation Agreement under the
framework focuses on investigating a lead series of therapeutic
candidates in the increasingly important research area of
pro-senescence (selectively promoting ageing of cancer cells to
cease growth in tumours). This exciting area of research has
potential to be effective in treating of multiple cancer types, and
also many other disease areas, including those associated with
healthy aging. This work builds upon previous ground-breaking
research by Dundee and Barts Charity funded research by Prof Cleo
Bishop, Professor of Senescence and Director of the Queen Mary
University London Phenotypic Screening Facility.
The evaluation process for this project is
expected to take approximately 12 months, with the lead series
scrutinised for mechanism of action and anti-cancer activity in the
Inaphaea BioLabs facility, and will draw upon the skills of
external collaborators. At the conclusion of the evaluation,
if the target activity is met, the project will be considered for
in-licensing on pre-agreed terms.
Dr Suzy Dilly,
CEO of ValiRx commented: "We are delighted to
be able to streamline the process of reviewing and accessing the
excellent research from University of Dundee's DDU, which will help
to bring on evaluation projects more quickly. The strength of
the DDU and research facilities at Dundee are very impressive and,
having reviewed multiple projects from teams there over the past
year, we believe that this evaluation agreement will be the first
of a series of new projects that can be brought into our
pipeline."
Dr Cathy
Tralau-Stewart, CSO of ValiRx explains: "The
Drug Discovery Unit (DDU) is housed within the School of Life
Sciences at the University of Dundee and is a fully integrated drug
discovery centre which utilises extensive, highly-respected
industry expertise to support the development of therapeutics
originating from academic research. This multi-disciplinary
expertise is required for successful drug discovery and we look
forward to working with the DDU to progress this exciting project
and other innovative approaches. This evaluation agreement is an
important step-forward in developing ValiRx's drug discovery
pipeline."
Professor
David Gray, Head of Biology and innovative targets portfolio lead
at the DDU commented "We are delighted that our
UKRI Impact Accelerator Award has enabled us to translate the
groundbreaking work of our collaborator Cleo Bishop at Queen Mary
University London, to the point where ValiRx see the potential for
treating patients."
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
Dr Suzanne Dilly, CEO
|
Tel: +44 (0)
2476 796496
www.valirx.com
Suzanne.Dilly@valirx.com
|
|
V Formation
(Public Relations)
Lucy Wharton - Senior PR Executive
Sue Carr - Director
|
+44 (0) 115
787 0206
www.vformation.biz
lucy@vformation.biz
sue@vformation.biz
|
|
Cairn
Financial Advisers LLP (Nominated Adviser)
Liam Murray/Jo Turner/Ludovico
Lazzaretti
|
Tel: +44 (0)
20 7213 0880
|
|
Shard Capital
Partners LLP (Sole Broker)
Damon Heath
|
Tel: +44 (0)
20 7186 9000
|
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
University of Dundee
The University of Dundee is one of the world's
leading centres for life sciences research, and a recognised leader
of innovation in this space being ranked first in the
Entrepreneurial Impact Ranking 2023 (Gateways to Growth: The
Entrepreneurial Impact Report) compiled by Octopus Ventures, one of
Europe's largest venture capital teams. This independent ranking
was determined by factors such as numbers of patents, spin-out
companies created and recent portfolio success, which for the
University included the £2.2 billion IPO of Exscientia on the US
NASDAQ, one of the largest ever UK university exits.
The Drug Discovery Unit is supported by the
University's Research & Innovation Services (RIS), which helps
to maximise the impact of research carried out at Dundee and
facilitate strategic partnering with industry.
About Queen
Mary University London
Queen Mary's internationally recognised research
transforms the lives of people around the world - and is grounded
in our local community. We solve global medical problems and
improve the health of millions.
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.