ValiRx Acquires Global Rights to Novel Compound Targeted at Prostate Cancer
09 July 2008, London: ValiRx plc (AIM:VAL, ‘ValiRx’), the cancer therapeutics and diagnostics company, has secured a one year exclusive evaluation license from Cancer Research Technology Limited (“CRT”) to a potentially significant new prostate cancer compound that has been shown in preclinical testing to successfully arrest prostate cancer growth in vivo. During the evaluation period ValiRx has an exclusive option to acquire worldwide exclusive rights in the cancer field.
The Directors believe the compound – to be called VAL 201 – has the potential to add significant value to the Company in the near to mid-term as it has already been shown in preclinical trials to stop the growth of prostate cancer in situations where tumours are unresponsive to other treatments.
Currently, prostate cancer is the most common cancer amongst men with 35,000 men being diagnosed and 10,000 deaths each year in the UK. The estimated value of the global prostate cancer market is approximately USD3 billion.
Under the terms of the agreement with CRT, ValiRx will be responsible for performing the pre-clinical regulatory development of VAL 201 in readiness for entry into human trials. Once the option has been exercised, ValiRx will receive an exclusive licence to the compound and control the commercialisation and the process thereafter.
Satu Vainikka, CEO of ValiRx, commented:
“This agreement extends further our relationship with Cancer Research Technology and expands our portfolio of late pre-clinical compunds.“
Dr Phil L’Huillier, CRT’s director of business management, said:
“We are very pleased to enter into an agreement for ValiRx to take forward into preclinical development this promising compound for the potential treatment of men with hormone resistant prostate cancer.”
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Notes to editors
VAL 201
The novel VAL 201 compound works by inhibiting the gene-based activity of a key molecule responsible for prostate cancer progression. The compound has been shown to be effective in vivo in breast and prostate cancer models and is now rapidly progressing towards first in man trials.
About ValiRx plc
ValiRx plc (AIM:VAL, ‘ValiRx’) is a cancer therapeutics and diagnostics company headquartered in London, England and admitted to AIM in October 2006. The Company operates through two subsidiaries, Cronos Therapeutics Ltd (www.cronostherapeutics.com), a UK-based epigenetic drug discovery and development business and ValiBIO SA (www.valibio.com), a Belgium-based oncology diagnostics operation.
Therapeutics – Cronos Therapeutics Ltd
ValiRx utilises a cells own inherent gene control machinery to silence genes involved in cancer cell progression, effectively “switching off” genes involved in certain forms of cancer through its platform technology GeneICE™ (Gene Inactivation by Chromatin Engineering),. GeneICE™ works through the recruitment of silencing complexes known as Histone Deacetylase Complexes (HDACs) to target genes involved in cancer. ValiRx’s lead product VAL 101 targets the anti-apoptotic gene BCL-2 which is over expressed in many cancers including in pancreatic cancer.
Gene silencing technology platform potentially represents an innovative and ground breaking new approach to cancer treatment as it allows for the development of targeted, personalised medicine and treatment for patients. GeneICE™ is also applicable to a wide variety of other genetic disorders such as in the fields of neurology and inflammatory diseases.
Diagnostics – ValiBIO SA
ValiRx currently has two epigenetic diagnosis products - HyperGenomicsTM, a method for the detection and identification of hypersensitive sites in cells and NucleosomicsTM, a non-invasive (blood) test for early cancer diagnosis based on epigenetic signal changes associated with malignancy – which it licences to its subsidiary, ValiBIO.
More information on the Company can be found at www.valirx.com
Cancer Research Technology
Cancer Research Technology Limited (CRT) is a specialist commercialisation and development company, which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT works closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners.
CRT facilitates the discovery, development and marketing of new cancer therapeutics, vaccines, diagnostics and enabling technologies. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world. Further information about CRT can be found at www.CancerTechnology.com
Contact Details:
For Further Information, please contact:
ValiRx Plc - Dr Satu Vainikka +44 (0)203 008 4416
CRT - Josie Gray +44 (0)207 061 8309, josie.gray@cancer.org.uk
College Hill - Sue Charles, Justine Lamond +44 (0)207 457 2020 valirx@collegehill.com
WH Ireland - David Youngman +44 (0)161 832 2174
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