News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

ValiRx Plc to Focus on Core Therapeutic Candidate That is in Clinical Development



10/11/2012 10:44:45 AM

October 11, 2012 -- ValiRx Plc (AIM: VAL), a life science company in clinical development with cancer diagnostics and therapeutics for personalised medicine, announces that its sales and distribution divisional subsidiary, ValiMedix, has entered into a UK distribution agreement with First Health Products Limited for the distribution and sale of ValiRx’s SELFCheck health screening products in the UK (the “Agreement”).

As a result of the Agreement, management time and the resources of ValiRx can be targeted on maximising the value creation of its higher valuecore therapeutic and diagnostic activities - the Company is in the clinicaldevelopment phase with VAL201, its first clinical phase therapeutic candidate. After successful pre-clinical results, VAL201 is on the threshold of first in human trials, with other compounds anticipated to follow.

The Agreement which is initially for the period of five years means that the Company will no longer incur any of the direct expenses or management time associated with the sales and marketing campaigns of SELFCheck products in the UK. ValiRx will continue to benefit from an income stream from the royalty payments made to the Company from UKsales.

The Company will continue to manage the international sales and distribution of ValiRx’s SELFCheck health screening products.

Dr Satu Vainikka, CEO, commented:“We believe that our own efforts should be on our core clinical activities in therapeutics and their associated diagnostics and on Biomarkers, both of which will create the best value for our shareholders. As a result of this rationalisation, we will focus on ValiRx’s value creation with the clinical development of VAL201, the pre-clinical and translational development of VAL101 and the developing pipeline of therapeutic and associated diagnostics. This agreement is an important development in the roll-out of our CE marked and regulated SELFCheck range of products.”

For more information, please contact:

ValiRx plc Tel: +44 (0) 20 3008 4416

Dr Satu Vainikka www.ValiRx.com

Cairn Financial Advisers LLP (Nominated Adviser) Tel:+44 (0) 20 7148 7900

Liam Murray / Avi Robinson

Hybridan LLP (Broker) Tel: +44 (0) 20 7947 4350

Claire Noyce / Deepak Reddy

Peckwater PR Tel: +44 (0)7879 458 364

Tarquin Edwards tarquin.edwards@peckwaterpr.co.uk

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:

ValiFinn is the biomarkers and diagnostic development division

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.

Tarquin Edwards

Director

Peckwater Public Relations Limited,

8th Floor, Westminster City Hall,

64 Victoria Street, London, SW1E 6QP

Tel switch: 020 7808 7340

Mob: 07879 458 364

E-mail: tarquin.edwards@peckwaterpr.co.uk

Website: www.peckwaterpr.co.uk


Read at BioSpace.com


comments powered by Disqus
 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES