LONDON (ShareCast) - (Sharecast News) - Clinical stage biotechnology company ValiRx has been granted a US Patent for VAL301, its therapeutic compound for the treatment of endometriosis.
ValiRx, which was in the process of preparing protocols and submission paperwork for clinical trials in endometriosis, said the patent grant was "excellent news" for VAL301 and for the "very substantial" number of women affected by the disease around the world.

ValiRx stated that there was a "substantial" unmet medical need for endometriosis treatment across the globe and that, according to pharma research firm DelveInsight, the endometriosis market had been predicted to reach $1.91bn by 2023.

Dr Satu Vainikka, chief executive of ValiRx, said, "This US patent grant is excellent news for VAL301 and for our opportunity of trying to address this little known, but hugely widespread and debilitating chronic illness, that affects a very substantial number of women around the world."

As of 0840 BST, ValiRx shares had shot up 13.60% to 2.84p.

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