Termination of Letter of Intent with TheoremRx
3 April 2025
ValiRx PLC
("ValiRx" or the "Company")
Termination of Letter of Intent with TheoremRx Inc
London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health announces that, further to the announcement on 31 December 2024 to grant a final extension of exclusivity to TheoremRx Inc ("TheoremRx") under the letter of intent ("LOI") until 31 May 2025, the Company has terminated the LOI with TheoremRx with immediate effect by mutual agreement.
The termination of the LOI follows notification by TheoremRx of a decision not to proceed with an amendment to the LOI to return the territory of Taiwan and maintain exclusivity in exchange for a non-refundable payment of $200,000 by 31 March 2025.
VAL201 will be moved to a prostate cancer focussed special purpose vehicle within ValiRx and plans to file IP to extend the patent life. The Company has recieved interest from a new consortium regarding the asset and is in early stage discussions with charities regarding possible support for clinical development.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company take responsibility for this announcement.
Mark Eccleston, CEO of ValiRx commented "Whilst the decision to terminate the LOI is obviously disappointing, we have contingencies for this eventuality. Moving VAL201 into a prostate cancer focussed SPV will give us the opportunity to file and develop new, ValiRx owned, IP based on in house technical knowhow to reset the patent coverage back to 20 years with proof of concept data for Val201 2.0 and to seek new partnerships from a position of strength. We will apply the same level of technical and comercial assessment applied to all new evaluation programs."
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ValiRx plc
Dr Mark Eccleston, CEO
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Tel: +44 115 784 0026 Mark.Eccleston@valirx.com
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V Formation (Public Relations)
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Notes for Editors
About ValiRx
ValiRx is a life science company focused on early-stage cancer therapeutics and women's health, accelerating the translation of innovative science into impactful medicines to improve patient lives.
ValiRx provides the scientific, financial, and commercial framework for enabling rapid translation of innovative science into clinical development.
Using its extensive and proven experience in research and drug development, the team at ValiRx selects and incubates promising novel drug candidates and guides them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.
ValiRx connects diverse disciplines across scientific, technical, and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. The team works closely with carefully selected collaborators and leverages the combined expertise required for science to advance.
Lead candidates from ValiRx's portfolio are outlicensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation.
ValiRx listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.
For further information, visit: www.valirx.com
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