Consortium incl. ValiRx Awarded Eurostars Grant

RNS Number : 7331L

ValiRx PLC

15 August 2013

 

15 August 2013

ValiRx Plc

("ValiRx" or the "Company")

Consortium including ValiRx Awarded New Eurostars Grant

ValiRx Plc (AIM: VAL), a life science company with a focus on cancer therapeutics for personalised medicine, is pleased to announce that the consortium, which comprises ValiRx and Pharmatest Services Limited has been awarded a prestigious new Eurostars grant.

The grant to the consortium is for up to €1.6 million and the funds will be used to progress the pre-clinical studies of VAL101, the Company's lead candidate deriving from the GeneICE platform and to build the associated cancer models. Additionally, some funding is for further GeneICE compounds directed at known Cancer targets. 

This award follows the previous Eurostars grant of €1.4 million, the programme in respect of which was completed earlier this year and was accepted by both the Technology Strategy Board (TSB) and the Eurostars Team, as reported on 31 July 2013. 

Dr Satu Vainikka, Chief Executive, commented:

"I am delighted to see and grateful for continued support from the Eurostars programme.  Their grant will substantially help progress our work on VAL101 and GeneICE, which will in turn we believe, build value".

- ENDS -

For more information, please contact:

ValiRx plc	Tel: [phone]
Dr Satu Vainikka	www.ValiRx.com
Cairn Financial Advisers LLP (Nominated Adviser)	Tel:[phone]
Liam Murray / Avi Robinson
Hybridan LLP (Broker)	Tel: [phone] / 4361
Claire Louise Noyce / William Lynne
Peckwater PR	Tel: [phone]
Tarquin Edwards	[e-mail]

Notes for Editors

ValiRx Plc

ValiRx Plc is a biopharmaceutical company developing novel technologies and products in oncology therapeutics and diagnostics. The product focus is in the epigenomic analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.

The Company listed on AIM in October 2006 and is creating a portfolio of innovative products through investment in specific development projects. It actively manages projects within this portfolio as a trading company and is not an investment vehicle. The ValiRx business model spreads the risks of life science technology developments by minimising financial exposure and running a set of projects to defined commercial endpoints. This maximises returns to shareholders by adding value at the earlier stages where value increases per investment unit are the greatest.

The Company operates through the following divisional companies: 

    1.  ValiFinn is the biomarkers and diagnostic development division

    2.  ValiPharma is the therapeutics division with two embedded technologies primarily directed at the treatment
         of cancers.

 

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