22 June 2026

ValiRx PLC

("ValiRx" or the "Company")

Conclusion of Evaluation with University of Dundee

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health provides the following update at the conclusion of the Evaluation Agreement with the University of Dundee and their Drug Discovery Unit (DDU) announced on 12 February 2024 and extended as announced on 30 January 2025.

Under the terms of the Extended Evaluation Agreement, ValiRx supported continued mechanism of action studies, provided by the research group of Professor Cleo Bishop (Professor of Senescence and Director of the Queen Mary University London Phenotypic Screening Facility), funded by a £50,000 grant from the Queen Mary University London Impact Fund. ValiRx contributed £9,000 and in-silico modelling with in-kind support from Inaphaea Biolabs Ltd.

Despite progress on the target deconvolution at the conclusion of the evaluation period, the technology had not met the strict criteria for the Company to exercise its option to license the technology on pre-agreed terms. The parties have agreed to terminate the current collaboration agreement and revert responsibility for maintaining the intellectual property to DDU and Queen Mary University.

Mark Eccleston, CEO of ValiRx commented "As noted when we announced the extension of the evaluation, a key decision point for in-licensing the asset was determination of the precise mechanism of action and, while progress has been made in Professor Bishop's laboratory, funded largely through non-dilutive funding, this criterion was not met. We're pleased that work carried out under the grant we supported has undoubtedly added value to the programme but, as we've discussed, the strict and robust criteria for asset selection and progression are designed to ensure we only progress assets we believe we can generate shareholder value from within a readably rapid timescale.

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