ValiRx PLC Licencing Agreement (3478M)
28 July 2017 - 4:00PM
UK Regulatory
TIDMVAL
RNS Number : 3478M
ValiRx PLC
28 July 2017
ValiRx Plc
("ValiRx" or the "Company")
VALIRX AND MYSTIC PHARMACEUTICALS SIGN LICENCE AGREEMENT
London, UK., 28 July 2017: ValiRx Plc (AIM: VAL), the clinical
stage biotechnology company, is pleased to announce that ValiRx has
signed a licensing agreement with Mystic Pharmaceuticals Limited
("Mystic") of Dhaka, Bangladesh, under which Mystic has acquired a
licence and access to certain patents and products owned by
ValiRx.
Under the terms of the license, Mystic gains immediate access to
ValiRx's patented technology for its further development by Mystic
for the benefit of ValiRx, for a period of five years. This access
is inclusive of the Company's pipeline of pre-clinical products for
the development of various treatments in Bangladesh and certain
other markets. This is the first of a number of such transaction
under negotiation in various territories for various indications
and applications, directed at supressing cancer progression, cancer
reduction and preventative therapies.
Upon market authorisation, ValiRx will receive up to a 50 per
cent. royalty from the sale of product.
In particular, ValiRx's GeneICE products could have a
significant role to play - especially those GeneICE products
against various cancers and metabolic conditions that may be of
particular relevance and use in the relevant territories.
Dr Satu Vainikka, Chief Executive Officer of ValiRx, commented:
"This is the first of what I hope will be a number of such
licencing agreements for several of our products. We at ValiRx are
delighted to be working with an impressive Mystic team and
collaborating with them on projects to our mutual advantage and a
50/50 split on revenues if the collaboration makes money. We also
benefit through the use of additional production facilities for
newer products not yet in the clinical pipeline."
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 Tel: +44 (0) 20
(Nominated Adviser) 7213 0880
Liam Murray/Jo Turner/Richard
Nash
Beaufort Securities Limited Tel: +44 (0) 207
(Broker) 382 8300
Jon Belliss
Notes for Editors
GeneICE Platform
GeneICE (Gene Inactivation by Chromatin Engineering) is a novel
proprietary gene silencing platform for the efficient silencing of
targeted genes. This technology is based on natural mechanisms and
has the potential to halt and reverse tumour growth. ValiRx has
attracted two Eurostars grants, a European grant scheme of EUR1.6m
each, for further development of its GeneICE technology
platform.
GeneICE mimicks a natural process in cells to silence genes. The
technology acts upstream of the gene expression, potentially
enabling a better inhibition compared to existing therapeutics
acting at the protein or post-transcriptional levels.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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