Notification of US Patent Grant Allowance reVAL401

RNS Number : 2377N

ValiRx PLC

14 May 2015

 

14 May 2015

ValiRx Plc

("ValiRx" or "the Company")

Notification of US Patent Grant Allowance for VAL401

ValiRx Plc (AIM: VAL), the life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce that ValiSeek Limited ("ValiSeek"), the joint venture between ValiRx and Tangent Reprofiling Limited ("Tangent"), has received notification today from Tangent that a US patent covering the composition of formulation for ValiSeek's novel cancer treatment VAL401 has been allowed by the US Patent Office. 

The directors of ValiSeek believe this patent grant allowance significantly strengthens and validates the science, novelty and founding basis behind the VAL401 project, coming as it does from under the rigorous scrutiny of the US Patent Office. In so doing, the directors of ValiSeek believe that this grant allowance provides a strong platform for the compound's future global commercialisation.

Dr Suzanne Dilly, CEO of ValiSeek Limited, commented: "I am delighted that this US patent office approval for the formulation is now with us, as it provides a strong endorsement of VAL401's technology and gives assurance over our our intellectual property."

Dr Satu Vainikka, CEO of ValiRx plc, added:  "This is an excellent follow-up to our earlier development update on VAL401 and is great news".

- 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
Daniel Stewart & Company Plc (Broker)	Tel: [phone]
Martin Lampshire
Peckwater PR	Tel: [phone]
Tarquin Edwards	[e-mail]

Notes for Editors

About ValiSeek

ValiSeek Limited ("ValiSeek") is a joint venture ("JV") company between ValiRx Plc and Tangent Reprofiling Limited, part of the SEEK Group.  ValiSeek was formed to progress the drug VAL401 through its remaining preclinical development and towards Phase II trials for the treatment of lung cancer and other oncology indications

About SEEK

Founded in 2004, SEEK (previously known as PepTcell) is privately owned and funded, with headquarters in London, UK. SEEK brings safe and low costs medicines to the patients as quickly as possible. It does this by modifying existing medicines to improve their efficacy within current label, dose and regime, by changing the indication but keeping the dose and dosing regime the same or by creating a new medicine when the previous options are unavailable.

Additional information about SEEK is available on the Company's website located at www.seekacure.com

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 has undertaken to develop a novel and groundbreaking class of therapeutics across a number of fields in oncology and has taken its lead compound, Val201, into Phase I/II clinical trials.   The Company listed on the Alternative Investment Market ("AIM") of the London Stock Exchange in October 2006.

The Company has a pipeline of other therapeutic drugs, which are currently progressing towards clinical trials. The product focus is in the targeted analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.

It actively manages projects within its portfolio as a trading company.  The ValiRx business model spreads the risks of life science technology development 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. ValiPharma is the therapeutics division, with two embedded technologies primarily directed at the treatment of cancers.

2. ValiFinn is the biomarkers and diagnostic development division.  ValiRx acquired through its ValiFinn subsidiary, the complimentary TRAC technology later in the year to strengthen the portfolio.

3. ValiSeek is a joint venture between ValiRx and Tangent Reprofiling Ltd to develop Val401 in lung cancer and potentially other indications.

 

END

 

 

MSCAIMITMBIBBPA