Final: 12th June 2007 - 12pm
ValiRx Plc
("ValiRx" or the "Company")
ValiRx Plc partners with Clarity Imaging to Cooperate
on Future Technology Transfers
ValiRx Plc (AIM: VAL), a biopharmaceutical development company that is building
a portfolio of complementary cancer-related therapeutic and diagnostic
technologies, today announces that on 25th May 2007, it signed a strategic
alliance agreement with Clarity Imaging International, Inc (OTCBB: ECSI.OB), a
US company that offers emerging technologies to the medical community. Under
the agreement, both parties will cooperate and agree terms to exploit
technology transfer initiatives between the U.S. and Europe in the future.
Specifically, both companies will look to agree to cross license certain of
their technologies for distribution into the other company's market. To date,
both companies have identified technology areas, covered by ValiRx's patents,
to be exploited under this agreement, but the terms and conditions of this
exploitation have yet to be formalized. Further updates will be provided to the
market when these terms are agreed.
Clarity Imaging, through an agreement with Bridgetech Holdings International,
is currently targeting specific diagnostics and prognostics markets in the U.S.
with products from Greater China. It has created strategic relationships in the
U.S. healthcare supply chain market which it believes maximizes product
exposure. Furthermore, Clarity Imaging is also exploiting ongoing relationships
through Bridgetech including MD Anderson Cancer Centers and other cancer
centers.
"We are pleased and proud to be affiliated with ValiRx," stated John Relic,
President and COO of Clarity Imaging. "The collaboration allows Clarity to
potentially gain access to the European biopharmaceutical market, furthering
our growth in the medical diagnostic arena. "
Dr Satu Vainikka, CEO of ValiRx, said: "We are developing a portfolio of new
technologies in the therapeutics and diagnostic markets, with a specific focus
on cancer. We are delighted to be partnering with an organization such as
Clarity that has the potential to bring our technologies to US markets."
---ENDS---
For Further Information
ValiRx:
Dr Satu Vainikka (CEO) +44 203 008 4416
Toby Hall / Jade Mamarbachi (gth media) +44 207 153 8035
David Youngman (WH Ireland) +44 161 832 2174
Clarity Imaging International:
Media Relations: Vince Heald, Beck Ellman Heald - 858-453-9600
Investor Relations: Redwood Consultants, LLC - 415-884-0348
Clarity Imaging Contact: Rick Howard 214-679-6076
MCC Global: Dana Smith - 801-816-2500
About Clarity Imaging International, Inc.
Clarity Imaging International, Inc. offers proven and emerging technologies to
the medical community. The scope of our interest includes introducing
diagnostic and imaging technologies, providing in-office diagnostic services
and offering medical imaging center development, consultation and management.
For additional information, please visit www.clmd.com.
About ValiRx Plc
ValiRx is a biopharmaceutical development company that is building a portfolio
of complementary cancer-related therapeutic and diagnostic technologies. It
currently holds stakes in Cronos Therapeutics Limited ("Cronos") and
Morphogenesis Inc;
* Cronos holds licenses to two innovative and potentially market changing
technologies, GeneICE and HyperGenomics;
* Morphogenesis Inc. is developing a portfolio of cell therapy products for
the treatment of chronic disorders. Its most advanced product, being
ImmuneFx(tm) for which it recently received a patent from the US patent
office.
For additional information, please visit ValiRx at www.valirx.com
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