Re Volition - Allotment of Shares

RNS Number : 7292T

ValiRx PLC

09 December 2011

 



ValiRx Plc

("ValiRx" or the "Company")

Re Volition - Allotment of Shares

ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, notes that VolitionRx Limited ("Volition") has today announced the allotment of 525,000 shares, representing 6.1 per cent. of Volition's issued share capital. 

The allotment of shares is in relation to the settlement of a US$1.11m liability owed to the Company. As part of the settlement, 14,189 of the total allotment of shares in VolitionRX have been issued to Chroma Therapeutics in settlement of their remaining payment under the terms of the sale of ValiBIO and IPR licences to VolitionRx Limited, as announced on 27 September 2011. Following this completion of the acquisition of ValiBIO by Volition, there are 8,645,652 ordinary shares of Volition in issue. ValiRx will own 510,811 ordinary shares in Volition.

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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]
Claire Noyce / Tim Goodman / Deepak Reddy
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:

·       ValiMedix is the sales and distribution division of ValiRx

·       ValiPharma is the therapeutics division with two embedded technologies primarily directed at the treatment of cancers. Of particular note is GeneICE, ValiRx's technology for controlling rebellious genes, which was awarded a Eurostars grant to the value of €1.2 million to fund the development of the GeneICE products through preclinical stages in cancer treatments

 

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