SELFCheck Update

RNS Number : 5524D

ValiRx PLC

24 March 2011

 



24 March 2011

ValiRx Plc

("ValiRx" or "the Company")

SELFCheck Update

ValiRx, a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to provide an update on its SELFCheck "Over-The-Counter" health screening products in the UK.

In February 2011, the Company commissioned its contract sales force to market its SELFCheck products directly to independent pharmacies. Feedback to date has been positive with increasing numbers of pharmacies taking up the Company's products and with customers demonstrating growing recognition of the SELFCheck brand.

The Company has widened its distribution network with the appointment of 3 national wholesalers and is in discussion with a number of regional buying consortia representing a substantial number of pharmacies. The Company is also exploring the potential for getting its SELFCheck range recommended by NHS centres, such as Genito-Urinary Medicine ("GUM") and diabetes clinics.

Exposure of the Company's products has been further enhanced through the launch of the website of ValiMedix, the Company's sales and distribution division (www.valimedix.com). The Company is now focused on driving forward the e-commerce platform with the objective of increasing visitor volumes and securing further sales opportunities. The Company has reviewed its pricing policy on the internet to ensure its products remain competitive in the market.

Dr Satu Vainikka, CEO of ValiRx plc, commented:

"We are encouraged by the progress being made and we look forward to the continuing roll out of the SELFCheck range. I hope people of all ages will take advantage of the availability of our health screening products to test themselves early and so ensure that therapeutic intervention is applied expediently."

For more information, please contact:

Enquiries:

ValiRx plc
Dr. Satu Vainikka	Tel: [phone]
	www.valirx.com
Peckwater PR
Tarquin Edwards	Tel: [phone]
	[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.  ValiRx is leading a consortium of biotechnology companies that are completing pre-clinical studies based on ValiRx's GeneIce technology platform, prior to entering clinical trials.

ValiMedix Ltd is a UK based company dedicated to building itself into one of Europe's largest Point of Care diagnostics companies. Initially this will be achieved through a programme of acquisitions accompanied by the in-licensing of products and product ranges which may be generic or with associated intellectual property that can be commercialised through existing established distribution channels to end users. Once the company is significantly cash positive it will commission its own new products and generate new intellectual property through a series of collaborative partnerships with organisations known to the management team. The core management team has extensive experience of sales and marketing in professional and pharmacy channels including the Over The Counter ("OTC") diagnostic sectors in the UK and overseas.

Over The Counter (OTC) products, SELFCheck and others

OTC screening products have evolved significantly since the introduction of the first generation of products such as pregnancy tests. Current products include screening for cancers, tropical diseases such as malaria, drugs of abuse, as well as the better known devices aimed at cholesterol assessment and selected acute diseases including several Sexually Transmitted Infections ("STI")s such as HIV.

The majority of the OTC tests sold today rely on either chemical or antibody reactions that produce a detectable colour change to read the result. The core technologies employed are reliable and robust with advancement and growth in the sector dependent on accuracy, reproducibility and time of reaction. Tests that have historically taken a number of hours can now be carried out in minutes.

Point of care (POC) products offer rapid, easy to use methods for quantitative or qualitative assessment of a range of disease conditions.  The benefit of such tests lies in the availability of test results within a matter of minutes and without a requirement to send samples to centralised laboratories, also removing any need for multiple appointments involving a clinic. The availability of such products via pharmacies and supermarkets appeals to wide sections of the community that find it difficult or inconvenient to make clinic appointments during the working week.

The Market for POC testing - Target Markets

The cost and provision of cost effective healthcare has become a major challenge in the UK and EU where an ageing population, an economic downturn and the ever increasing cost of medical treatment have seen a change in the strategic planning of healthcare delivery. 

Acceptance of POC screening tests offers direct savings in terms of early detection of disease and faster clinical and medical interventions where abnormal outcomes occur. Equally important is the speedy 'all-clear' diagnosis for patients who would have exhibited negative test results but who would still have used up valuable laboratory resource.

The development of drop-in clinics and the expansion of pharmacy services (particularly those prescribing pharmacies) will become a fertile market for POC products. In addition ValiMedix is looking to market its products to Hotel/Spa clinics, health clubs (gyms) as well as the occupational health sector, universities and schools.

 

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