TIDMVAL
RNS Number : 9093N
ValiRx PLC
28 September 2023
28 September 2023
ValiRx PLC ("ValiRx" or the "Company")
Operational Review
London, UK - ValiRx Plc (AIM: VAL), a life science company
focusing on early-stage cancer therapeutics and women's health,
provides the following review of quarterly activities across the
ValiRx Group.
Inaphaea BioLabs ("Inaphaea")
Inaphaea announced the first revenue generating service contract
this Q3, with the contracted work proceeding as scheduled and the
first stage completed successfully. The programme of work involved
a phenotypic screen for anti-cancer activity of a library of test
molecules against a patient derived cell line (PDC) from a
glioblastoma patient. This PDC was selected from the extensive
biobank acquired from Imagen Therapeutics in June 2023.
The team at Inaphaea BioLabs have also made good progress with
the commercial development plan, raising brand awareness and
developing collaborations with complementary service providers to
broaden the tCRO(R) concept. We believe this will help accelerate
the identification of revenue generating opportunities as well as
introducing the Inaphaea offering to a broader range of
clients.
The PDC biobank now provides Inaphaea with the opportunity to
generate additional income streams, a combination of services and
products, with the sale of PDCs under license to a wide range of
customers, such as larger pharmaceutical companies, companies
developing medical devices and companies offering other
non-competing preclinical services.
The laboratory-based team at Inaphaea is making good progress in
commissioning and validating the Imagen Therapeutics equipment and
biobank and building the range of capabilities on offer to
customers.
Inaphaea hosted a well-attended launch event on 26 September
2023 to help build brand awareness and position the company and
collaborators as leading proponents of translational drug
development.
Barcelona University Evaluation
The KRAS(2) project continues within the Inaphaea lab. In silico
analysis of the series of molecules has been completed in-house. A
selection of interesting candidates have been synthesised by an
external chemistry sub-contractor and are now being tested for
anti-cancer activity in the Inaphaea facility.
Further Evaluation Projects
With an ambition to secure 3-4 new evaluation projects every
year, we have been focussing substantial effort on identifying and
qualifying further assets that meet our criteria to build a
diversified preclinical project pipeline. Negotiations are ongoing
with a number of parties to initiate evaluation agreements.
Clinical Stage Assets
VAL201 remains subject to the Letter of Intent ("LoI") with
TheoremRx Inc, and we maintain regular lines of communications with
the TheoremRx team to monitor progress on their continuing efforts
to secure financing, which will enable the VAL201 sub-license to
complete. The sub-license contains provisions for upfront and
early-stage milestone payment and will release the immediate
payment for work already conducted under the previously announced
service agreement as well as a commitment for future service
provision.
In June 2023, ValiRx announced the carve-out of the Greater
China region from the exclusivity clause in the TheoremRx letter of
intent. This enables the Company to re-commence active marketing of
the project in this region in order to explore additional sources
of revenue.
VAL401 is subject to an ongoing business development programme
with an external provider of partnering services who are exploring
opportunities focussed on oncology and supportive care.
Preclinical Stage Assets
CLX001 was placed in the single asset subsidiary company,
Cytolytix Limited ("Cytolytix") in Q4 2022,and has undergone a
programme of formulation development during the H1 2023. The
peptide active ingredient requires a nanoformulation to ensure that
the peptide stabilised within the therapeutic agent and is
delivered to cancer cells at appropriate levels.
The lead formulation has been proposed and is now being tested
at Inaphaea to ensure biological activity remains as expected. A
full programme of preclinical development including manufacturing,
toxicology, disease impact and regulatory activities will then be
pursued.
Opportunities for early partnering are being explored for
Cytolytix, with active commercial development to promote the
project to potential industry partners.
VAL301 in vitro preclinical optimisation is ongoing within the
Inaphaea facility, with variations of the molecule being studied
for impact on growth rates of estrogen dependent cells under a
variety of stimulatory conditions. These assays will determine
whether an alternative molecular structure can improve the
potential for disease modifying impact for endometriosis, as well
as offering the potential for new patent filings to refresh the
intellectual property portfolio surrounding the project.
BC201 remains in assessment in the collaboration between Black
Cat Bio Limited and Oncolytika, with preclinical assessments
considering the impact of the active ingredient against viral
infections and immune responses.
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.
*** ENDS ***
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/ 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
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