ValiRx PLC - Collaboration Agreement Signed
("ValiRx", the "Company" or the "Group")
COLLABORATION AGREEMENT SIGNED:
VAL201 A KEY COMPONENT IN EXPERIMENTAL COMBINATION TREATMENT FOR COVID-19
Many patients infected with Coronavirus SARS-CoV2 exhibit more severe symptoms, with significant damage believed to be caused by an excessive response of the immune system, even after the viral infection has reduced. This is known as a hyperimmune response.
Oncolytika, a private
ValiRx's contribution to the collaboration is to provide samples of its proprietary SRC kinase inhibitor, VAL201, for preclinical testing, and provide access to safety and tolerability data collected in the recently completed clinical trial in men with prostate cancer. No cash funding is committed to the project by ValiRx under this agreement.
Subject to successful out-licencing, ValiRx will receive 40% of all licensing income generated. The collaboration addresses an emergent and immediate unmet medical need, and details the commencement of a short term experimental plan, with the agreement covering a maximum of two years.
This additional use for VAL201, being explored through the collaboration does not impact ValiRx's intellectual property rights, or the progress or commercial potential of the oncology or endometriosis applications of using for VAL201 or VAL301.
There is no guarantee that the Project will be successful and that ValiRx will generate any licensing income from the Project.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Notes for Editors
ValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer.
The Company's business model focuses on identifying and in-licensing early stage projects, adding value through scientific development and then out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the Company reduces risk while increasing the potential for realising value.
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.
The Company listed on the AIM Market of the
With innovation as a keystone principle, the Oncolytika team delivers value to its clients through a variety of services ranging from opportunity recognition, technology strategy development, business planning, market evaluation and strategic planning for market entry. Oncolytika have developed novel technical solutions and intellectual property for several clients in the biopharma and diagnostic space as well as providing technical writing and publication support.
Oncolytika has a track record of securing grant funding both at the national (
Oncolytika undertakes both short term and longer term collaborative projects and have invested in early stage and developed companies. The longer-term objective is to leverage these investments to fund Oncolytika's internal development programs.
As a small company, Black Cat Bio is able to rapidly identify and progress opportunities, either alone or with appropriate partners. On adoption of a project, Black Cat Bio seeks funding from a variety of sources, including grant and private equity, in order to develop the project to a stage appropriate for commercial partnering.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identiﬁed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
This information is provided by RNS, the news service of the
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