19 March 2024

VALIRX PLC

("ValiRx" or the "Company")

Board Re-structuring and update on shareholder requisition

ValiRx plc (the "Company") (AIM: VAL), a life sciences company focusing on early-stage cancer therapeutics and women's health, provides an update on the planned board restructuring and shareholder requisition.

The Board is commencing an executive search to seek a Chief Executive Officer to lead the next stage of growth of the Company.  The Company recognises the highly specialised nature of this role and anticipates the required process to identify the appropriate candidate may take a number of months, during which period Dr Dilly will remain as Chief Executive Officer.  As part of the re-structuring process, Dr Dilly and the Board will consider potential alternative roles within the Company or Group.

In addition, Adrian de Courcey will join the ValiRx Board as a proposed Non-Executive Director, subject to completion of regulatory due diligence and Ray Horn will become a Board observer.

The Company announces that the Shareholder Requisition Notice to requisition a General Meeting of the Company, as announced on 4 March 2024, has been withdrawn and a General Meeting will not be convened.

Dr Suzy Dilly commented "I've been honoured to play a leading role in establishing the new preclinically-focussed strategy for ValiRx in the period since my appointment in 2020, and as the Company grows it is appropriate for an individual with experience of leading larger companies is sought to better serve the Company's needs.  I remain committed to serving the best interests of our shareholders, our staff and collaborators, and will be available to provide support both to the search and to the integration of the incoming team members."

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 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

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.