US Notice of Allowance-VAL201 & Metastatic Cancer
VALIRX PLC
("ValiRx", the "Company" or the "Group")
US NOTICE OF ALLOWANCE
FOR THE USE OF VAL201 IN THE PREVENTION AND TREATMENT OF METASTATIC CANCER
London, UK., 26 June 2019: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, is pleased to announce that the US Patent and Trademark Office ("USPTO") has allowed patent claims directed towards a method of preventing the worsening of symptoms of a metastatic cancer, reducing the progression of a metastatic cancer, or treating a metastatic cancer (including prostate cancer) by administration of VAL201 peptide. (US Patent Application No. 14/888,214)
Advanced prostate cancer is classified when disease spreads beyond the prostate to other parts of the body. This spread is known as metastatic disease, and in prostate cancer most commonly spreads to the bones and lymph nodes. The main goals for treatment of advanced prostate cancer are symptom control, slowing the rate at which the cancer grows, as well as targeting the tumour.
ValiRx's VAL201 compound selectively prevents tumour growth by specifically inhibiting the proliferation of tumour cells. It's inhibitory effects on lymph node metastases have been demonstrated in the pre-clinical prostate cancer model. The compound is currently in a Phase I/II study primarily assessing safety and tolerability of VAL201 and its effect in the treatment of prostate cancer and other solid tumours. VAL201 has been well tolerated, with signs of activity in advanced prostate cancer noted through biomarker and imaging techniques.
Dr Satu Vainikka, CEO of ValiRx, commented: "With previously granted worldwide rights for the use of VAL201 in prostate cancer, we are very pleased that the USPTO has allowed claims for the use of VAL201 in the prevention and treatment of metastatic (including prostate) cancer. I believe that not only will the allowed claims complement our other intellectual property and provide the Company with a more compelling package to offer when in discussions with big pharma, but I also believe that if we can reduce the symptoms and progression of metastases, as well as targeting the lesion, through the use of VAL201, we can improve prospects for patients".
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For more information, please contact:
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ValiRx plc |
Tel: +44 (0) 20 3008 4416 |
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Dr Satu Vainikka, Chief Executive |
Tel: +44 (0) 20 3008 4416 |
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Tarquin Edwards, Head of Communications. |
Tel: +44 (0) 7879 458 364 |
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Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray / Jo Turner |
Tel: +44 (0) 20 7213 0880 |
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Novum Securities Limited Colin Rowbury |
Tel: +44 (0) 20 7399 9400 |
Notes for Editors
About ValiRx
ValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in "precision" medicine and science, namely to engineer a breakthrough into human health and well-being, through the early detection of cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the company reduces risk considerably while increasing the potential for realising value. The group is already in licensing discussions with major players in the oncology field.
ValiRx's two classes of drugs in development, which each have the potential for meeting hitherto unmet medical needs by existing methods, have worldwide patent filings and agreed commercial rights. They originate or derive from World class institutions, such as Cancer Research UK and Imperial College.
Until recently, cancer treatments relied on non-specific agents, such as chemotherapy. With the development of target-based agents, primed to attack cancer cells only, less toxic and more effective treatments are now possible. New drugs in this group-such as those in ValiRx's pipeline-promise to greatly improve outcomes for cancer patients.
The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
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