18 October 2022

ValiRx PLC ("ValiRx" or the "Company")

Issue of Share Options

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health announces today the grant of a share option under the Company share option scheme.

A share option over 150,000 ordinary shares has been granted to Stella Panu in recognition of her recent appointment as Non-executive Director of the Company.

The structure of the share option is identical to the share options scheme announced on 6 September 2022.

The options detailed in the schedule below are exercisable only under market conditions that demonstrate growth in the Company's market capitalisation.  Band 1 options vest only after the Company's share price has maintained a 20 Day VWAP (Volume Weighted Average Price) of 25p, Band 2 options vest only after the share price has maintained a 20 Day VWAP of 30p and Band 3 Options vest only after the share price has maintained a 20 Day VWAP of 40p within 2 years of the options being issued.  If the price has not reached these price targets by 11 October 2024, the options will lapse; if they meet the criteria, the options can be exercised at any date to 11 October 2032 with an exercise price of 12p.

Directors:

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.

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Notes for Editors

About ValiRx

ValiRx accelerates the development of treatments in oncology and women's health to improve patient lives. We provide the scientific, financial and commercial framework towards enabling rapid translation of innovative science into clinical development.

With our extensive and proven experience in research and drug development, we select and incubate promising novel drug candidates and guide them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

Integrating science and business

We connect diverse disciplines across scientific, technical and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process.  We work closely with our selected collaborators and leverage the combined expertise required for science to advance.

Lead candidates from our portfolio are out-licensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation. https://www.valirx.com/

The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

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.