ValiRx Plc
("ValiRx" or the "Company")
NOTIFICATION OF AUSTRALIAN PATENT ALLOWANCE FOR THERAPEUTIC COMPOUND, VAL401
London, UK., 24 May 2017: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, is pleased to report that ValiSeek Limited ("ValiSeek"), the joint venture between ValiRx and Tangent Reprofiling Limited ("Tangent"), has received notification, that an Australian patent covering VAL401 and its use in the treatment of cancer, has been allowed by the Australian Patent Office.
ValiSeek was formed to progress VAL401 into Clinical trials for the treatment of lung cancer and other oncology indications.
The allowance of this latest patent means that ValiSeek now has patent protection for VAL401 in New Zealand, Australia and previously announced patents in the United States. There are also further patents pending for the compound in significant markets across the rest of the world, alongside other granted and patents pending for the Group's therapeutic technologies world-wide.
The directors of ValiSeek are pleased to receive this notification of allowance for this patent, further strengthening ValiSeek's portfolio at an important time in VAL401's development pathway.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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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 [email protected] |
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray/Jo Turner/Richard Nash |
Tel: +44 (0) 20 7213 0880 |
Beaufort Securities Limited (Broker) Jon Belliss |
Tel: +44 (0) 207 382 8300 |
Notes for Editors
About ValiSeek
ValiSeek Limited ("ValiSeek") is a joint venture ("JV") company between ValiRx Plc and Tangent Reprofiling Limited, part of the SEEK Group. ValiSeek was formed to progress the drug VAL401 through its remaining preclinical development and towards Phase II trials for the treatment of lung cancer and other oncology indications.
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 Word 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.
