Sign up Australia
Proactive Investors - Run By Investors For Investors

ValiRx praises “considerable progress” made in first half

“I strongly believe that ValiRx and its assets offer investors or joint venture partners an increasingly attractive and investable proposition as we strengthen our position among frontrunners in the fields of personalised and precision medicine"
scientist in a lab
As is to be expected from pre-revenue companies, ValiRx made a loss after tax of £2.06mln in the first half

Cancer-focused biotech ValiRx Plc (LON:VAL) has told investors it made “considerable progress” across both its clinical and pre-clinical drug portfolio in the first half of the year.

Its lung cancer candidate, VAL401, finished the recruitment phase of its phase II trial back in June and this week the company also announced it had completed the dosing phase.

The study remains on track to be completed by the end of this year, which will then be followed by the processing of the data to determine VAL401’s potential positive impact on patient quality of life.

READ: ValiRx completes dosing stage of VAL401 clinical study

READ: ValiRx raises £0.5mln via a placing of 50mln new ordinary shares at a price of 1p each

The ongoing phase I/II trial of ValiRx’s lead compound, VAL201, has demonstrated safety and tolerability with “signs of activity” in patients with advanced prostate cancer.

As for VAL301 – which is essentially a slight tweaking to VAL201 and is initially being developed to treat endometriosis – it is currently in the late pre-clinical trial phase.

Those studies have shown that the drug has minimal impact on bone density or fertility – two common problems with standard treatments – and the plan is to get the necessary regulatory approvals to move 301 into the clinic next year.

Clinical trials of VAL101 to be accelerated

Earlier this month, ValiRx said it will accelerate the pre-clinical trials of its VAL101 molecule after making a breakthrough with its development.

VAL101 is based on ValiRx’s proprietary GeneICE platform and works by switching off the gene that expresses Bcl-2 – a protein that is implicated in about half of all carcinoma cancers.

READ: ValiRx to accelerate pre-clinical trials of cancer-fighting molecule after development breakthrough

The first generation of the molecule was successful in reducing Bcl-2 and killing the cancer cells but it needed a few tweaks here and there to make it ready for commercial production.

ValiRx went away and developed an optimised second generation, which has shown “improved technical efficacy and commercially viable efficient manufacturing” whilst still reducing Bcl-2.

The plan here is to get the pre-clinical studies completed and prepare for the compound’s entry into the clinic.

Management pleased with progress

"We have seen considerable progress across our therapeutic portfolio in the last six months, adding value to the company's assets and bringing us closer to the point where our clinical programmes for VAL201 and VAL401 will deliver meaningful data and will bring the Company closer to finding a partner,” said non-executive chairman Oliver de Giogio-Miller.

“I am pleased with the momentum generated as we move towards clinical developmental milestones and potential value inflection points for VAL401 and VAL201 as we approach the year-end. "

He added: “Our portfolio of therapeutic drugs collectively address multi-billion dollar markets and meet significant unmet need.

“I therefore strongly believe that ValiRx and its assets offer investors or joint venture partners an increasingly attractive and investable proposition as we strengthen our position among frontrunners in the fields of personalised and precision medicine."

Losses narrowed slightly

Given that ValiRx is in the pre-revenue stage, it recorded a loss after tax of £2.06mln in the six months to 30 June (H1 2016: £2.12mln).

After a £1.6mln fundraise back in March, the company has £383,500 in cash and cash equivalents (H1 2016: £568,800).

View full VAL profile View Profile

ValiRx Plc Timeline

Related Articles

July 11 2018
Valirx raised just short of a £1mln in May to progress the clinical trial of VAL201 and to advance the pre-clinical programmes, VAL101 and VAL301.
Skin beauty
April 19 2018
In a note to clients initiating coverage on SkinBio, the joint ‘house’ broker noted that, as the skin microbiome group operates in a new therapeutic area, there is little market data in the sector
Graphic of person pointing to different parts of the body
May 14 2018
Paradigm’s share price has increased more than 60% in the last month and it was up more than 12% on Friday.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use