Statement re Placing of Shares

For immediate release: 12th May 2008

                                  VALIRX PLC                                   

                          ("ValiRx" or the "Company")                          

The Directors of ValiRx (AIM: VAL), the cancer therapeutics and diagnostics
company, are pleased to report that the Company's funding round has now closed,
it having been fully subscribed. In total, approximately £890,000 (before
expenses) was raised by a placing of 14,886,662 new ordinary shares of 6p each.

Attached to each Placing Share is a warrant to subscribe for one new Ordinary
Share at 10p per share for a period of three years from the admission of the
Placing Shares to trading on AIM.

The funding will be used to advance activities on both the cancer therapeutics
and cancer diagnostics sides of the business.

In therapeutics, ValiRx is now progressing its gene silencing technology,
GeneICE, towards human trials as the preclinical trials currently underway with
Cancer Research UK near completion. A programme of research designed by the
Company will set a path for the Phase 1 trials. The class of drugs based on the
GeneICE platform are designed to target and silence the genes known to be
associated with identified diseases such as cancer.

In diagnostics, the commercialisation of the two complementary cancer screening
products Nucleosomics and Hypergenomics will also be advanced. These products
are being developed to meet the otherwise unmet need in the market for early
detection and personalised treatment regimes - critical to the effective
treatment of cancer. Nucleosomics is an early-stage, non-invasive, high
throughput test kit that is targeting the detection of pre-symptomatic
indications of cancer or risk of cancer. Hypergenomics is being developed to
pinpoint the specific type of cancer and to indicate the most appropriate
therapy based on a patients epigenomic profile.

On admission of the final tranche of 4,896,664 Placing Shares, expected on 13
May, the Company will have 46,499,759 Ordinary Shares in issue.

Dr Satu Vainikka, CEO of ValiRx, commented:

"We believe the participation ValiRx received from the Placing reflects
positively on our activities, particularly given the prevailing market
conditions . With the Placing now completed we look forward to focusing on
bringing the first diagnostic products through to commercial launch and to
continue the solid progress we are making on the GeneICE cancer therapeutic
technologies."

About ValiRx plc

ValiRx is a biopharmaceutical company that is building a portfolio of
complementary cancer-related diagnostic and therapeutic products based on
patented technologies.

The Company's products are rooted in the epigenomic analysis and treatment of
cancer. Epigenetics is the emerging science of how, when and why genes are
switched "on" or "off" in the body. By knowing which genes are responsible for
a specific disease, doctors can target the therapy to that particular gene. At
the same time, the technology has the potential to also be used for screening
purposes in identifying individuals at risk of developing disease based on
their epigenetic make-up.

ValiRx currently holds a worldwide exclusive license for Nucleosomics, the
early stage oncology diagnostics technology, and has majority stakes in Cronos
Therapeutics Ltd ("Cronos") and ValiBIO SA:

  * Cronos holds worldwide exclusive licenses to two innovative and potentially
    market changing technologies, GeneICE and HyperGenomicsTM, and is
    developing further novel cancer therapies;
   
  * ValiBIO SA is a Belgium joint venture between ValiRx and BIO.be focusing on
    the development and commercialisation of products in the epigenomics
    sector, the first products to be put into development being HyperGenomics
    and Nucleosomics. ValiRx has a 77% majority holding in the company.
   
ValiRx is headquartered in London, England. Further information can be found at
www.valirx.com

Contact Details:

For Further Information, please contact:

     ValiRx Plc             WH Ireland               GTH Communications        
                                                                               
  Dr Satu Vainikka        David Youngman           Toby Hall / Brooke Paul     
                                                                               
[phone]   [phone]       [phone]/8035