30 October 2024
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 announces that, further to the 2024 interim
results announced on 27 September 2024, the Company has signed an
amendment to the Letter of Intent ("LOI") with TheoremRx Inc
("TheoremRx"). The exclusivity provided has been extended for a
limited time period until 31 December 2024 in exchange for a 0.5%
equity interest in TheoremRx following the potential reversal into
a US listed shell.
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.
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.
Mark Eccleston, CEO of ValiRx commented
"This time
limited extension has been granted to allow TheoremRx to
continue the progression of their financing, which on completion
will enable execution of the sub-license of VAL201 to
TheoremRx. We remain supportive of the TheoremRx team and
continue to closely monitor their progress."
*** ENDS
***
For more information, please
contact:
|
ValiRx
plc
Dr Mark Eccleston, CEO
|
Tel: +44 (0)
115 784 0026
www.valirx.com
Mark.eccleston@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 / 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