TIDMVAL
ValiRx PLC
19 July 2023
ValiRx PLC
("ValiRx" or the "Company")
Operational Update - Inaphaea BioLabs secures first external
contract
London, UK - ValiRx Plc (AIM: VAL), a life science company
focusing on early-stage cancer therapeutics and women's health, is
pleased to announce an operational update on the Company's wholly
owned subsidiary, Inaphaea BioLabs Limited ("Inaphaea").
Inaphaea has signed a Master Services Agreement and Project
Statement of Work with a UK based biotech company. The first
invoice has been issued relating to the work, with subsequent
invoices anticipated at milestones during the project period.
This defined work programme involves a multi-stage project and
is expected to complete at the end of September 2023. The project
is investigating possible anti-cancer properties of a range of
novel molecules using a phenotypic assay and will benefit from the
use of patient-derived cells ("PDCs") from Inaphaea's biobank,
recently acquired from the liquidated assets of Imagen. The
Directors believe that ready access to in-house PDCs will simplify
access to suitable in vitro cancer disease models.
In addition, Inaphaea has commenced studies on internal ValiRx
assets VAL301 and Cytolytix CLX001, thereby reducing third party
testing costs and reducing potential for delays.
Dr Suzy Dilly, CEO at ValiRx explains "It is gratifying that the
first external client secured by Inaphaea is benefiting from the
PDCs we recently acquired. We are looking forward to working
closely with this client, and hope for this to be the first
contract in a substantial working relationship. With the first
revenues now being generated by Inaphaea, we are delighted that our
service offering is being well received and welcomed by our
intended client base."
The Directors of the Company take responsibility for this
announcement.
For more information, please contact:
ValiRx plc Tel: +44 (0) 2476 796496
www.valirx.com
Dr Suzanne Dilly, CEO Suzanne.Dilly@valirx.com
Inaphaea BioLabs Limited www.inaphaea.com
Dr Andrew Carnegie, Head of Strategic Andrew.Carnegie@inaphaea.com
Commercial Development
V Formation (Public Relations) +44 (0) 115 787 0206
www.vformation.biz
Lucy Wharton - Senior PR Executive
Sue Carr - Director lucy@vformation.biz
sue@vformation.biz
------------------------------
Cenkos Securities plc (Joint Broker) Tel: +44 (0) 20 7397
8900
Dale Bellis/Michael Johnson (Sales)
Callum Davidson/Giles Balleny (Corporate
Finance)
------------------------------
Turner Pope Investments (Joint Broker) Tel: +44 (0) 20 3657
James Pope / Andy Thacker 0050
------------------------------
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
About Inaphaea BioLabs
Inaphaea BioLabs is a new pharmaceutical services company, based
in Nottingham (UK), offering cell-based assays specialising in
oncology and women's health. Our aim is to improve the translation
of early drug discovery projects towards the clinic. Driven by a
desire to generate deeper biological understanding of drug
candidates in discovery and preclinical phases of development,
Inaphaea will provide testing services that generate the necessary
data, analysis and insights to aid decision making in translational
drug development.
Spun out from ValiRx PLC, the core team within Inaphaea have a
strong background of preclinical and clinical drug development, and
of understanding both the commercial and scientific needs of the
service users from both sides of the table.
Inaphaea will offer a range of services across all areas of
cell-based assays, including phenotypic assays to assess efficacy
and selectivity of activity against patient-derived cancer cells;
mechanistic and binding assays; and measurements of production of
cell markers and hormones. Inaphaea's services will evolve over
time to incorporate new techniques and technologies with the
ambition to improve biological understanding and translatability of
early discovery in drug development.
For further information, visit www.inaphaea.com
About Patient-derived Cells
Long-established immortalised cancer cells, although used
frequently in early stage cancer research, are known to have
limitations when considering the translation of research from
preclinical to clinical studies. Patient-derived cells enable the
research to be a step closer to studying a human clinical system,
by more closely resembling the cells within the patient. The
patient-derived cells are maintained at a low passage number, that
it they have not been replicated excessively, to minimise
mutations. Typically these cells will be grown as 2D monolayers for
study, however, they may also be developed into spheroids, to
enable 3D study.
Known characteristics of the patient from which the cells are
derived are whether the patient had received cancer treatment, the
type of cancer the patient was suffering and a broad demographic
group.
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
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END
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