LONDON (ShareCast) - (Sharecast News) - Clinical-stage biotechnology company ValiRx announced on Thursday that the patent offices of Russia and China had both granted a patent allowance for its pre-clinical therapeutic compound, VAL301, subject to payment of the relevant fees.
The AIM-traded firm said the compound was developed for the treatment of hormone-induced, non-oncological abnormal growth and cell proliferation conditions.

Those included indications for endometriosis and benign prostatic hyperplasia, for both of which there was "substantial" global unmet medical need.

ValiRx said the latest patent allowances provided protection for those indications in two of the world's most populous nations, adding that they followed on from its receipt last year of a US patent grant, as it announced in July.

"The patent portfolio and trial results are the main assets and value drivers for any small biotechnology company, such as ValiRx and I am pleased that our global patent protection is now so strong," said ValiRx chief executive officer Dr Satu Vainikka.

"These patent grant allowances are a further endorsement for VAL301.

"The pre-clinical and clinical development of the compound will benefit considerably from the earlier strong progress seen in the Phase I/II clinical trial of our prostate cancer therapeutic, VAL201, from which VAL301 is derived."

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