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Miles
Km80.5

   

Cronos Therapeutics Becomes Wholly Owned Subsidiary of ValiRx Plc And Will Trade as ValiPharma


7/14/2008 9:29:21 PM

LONDON, July 14,2008-ValiRx plc (AIM:VAL, 'ValiRx') the cancer therapeutics and diagnostics company, announces that, pursuant to the call option agreement dated 8 September 2006 entered into between the Company and each of Satu Vainikka, Jacob Micallef, George Morris and Cameron Macdonald (together the "Cronos Minority Shareholders"), the Company has exercised the option to acquire 6,293 ordinary shares of 1p each in Cronos Therapeutics Limited ("Cronos") from the Cronos Minority Shareholders (the "Acquisition"). The ordinary shares present some 39.7% of Cronos and at Friday's closing mid market price of ValiRx are valued at approximately £374,000. Following the Acquisition, Cronos will become a wholly owned subsidiary of the Company and will trade as ValiPharma.

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