ValiRx PLC Company Update & Change of Adviser (9755H)
06 Agosto 2019 - 8:01AM
UK Regulatory
TIDMVAL
RNS Number : 9755H
ValiRx PLC
06 August 2019
VALIRX PLC
("ValiRx", the "Company" or the "Group")
Company Update and Change of Adviser
London, UK., 06 August 2019: ValiRx Plc (AIM: VAL), the clinical
stage biotechnology company, announces that, further to the
announcements released by the Company on 2 May 2019 and 25 June
2019, the discussions for the intention to form the joint venture
with Alpha Blue Ocean have not progressed and will be considered
along with other opportunities.
The Company also announces that further to the notification of
25 June 2019, the Company is still waiting on receipt of the
R&D tax credit of GBP400,000 from HMRC. The Company expects to
receive this amount shortly. As a result, the Company continues to
carefully manage its working capital position. A further
notification will be made in due course.
The Company notes that SVS Securities plc ("SVS") has been
placed into Special Administration. As a consequence, Novum
Securities Limited is now the Company's sole broker with immediate
effect.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
*** ENDS ***
For more information, please contact:
ValiRx plc Tel: +44 (0) 20 3008 4416
www.valirx.com
Dr Satu Vainikka, Chief Executive Tel: +44 (0) 20 3008 4416
Tarquin Edwards, Head of Communications. Tel: +44 (0) 7879 458
364
tarquin.edwards@valirx.com
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213 0880
Adviser)
Liam Murray / Jo Turner / Ludovico
Lazzaretti
Novum Securities Limited (Broker) Tel: +44 (0) 20 7399 9400
Colin Rowbury
Notes for Editors
About ValiRx
ValiRx is a biotechnology oncology focused company specialising
in developing novel treatments for cancer and associated
biomarkers. It aims to make a significant contribution in
"precision" medicine and science, namely to engineer a breakthrough
into human health and well-being, through the early detection of
cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing
therapeutic candidates early in the development process. By aiming
for early-stage value creation, the company reduces risk
considerably while increasing the potential for realising value.
The group is already in licensing discussions with major players in
the oncology field.
ValiRx's two classes of drugs in development, which each have
the potential for meeting hitherto unmet medical needs by existing
methods, have worldwide patent filings and agreed commercial
rights. They originate or derive from World class institutions,
such as Cancer Research UK and Imperial College.
Until recently, cancer treatments relied on non-specific agents,
such as chemotherapy. With the development of target-based agents,
primed to attack cancer cells only, less toxic and more effective
treatments are now possible. New drugs in this group-such as those
in ValiRx's pipeline-promise to greatly improve outcomes for cancer
patients.
The Company listed on the AIM Market of the London Stock
Exchange in October 2006 and trades under the ticker symbol:
VAL.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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