LONDON (ShareCast) - (Sharecast News) - Clinical-stage biotechnology company ValiRx announced on Thursday that the European Patent Office has issued a Patent Notice of Allowance for its preclinical therapeutic compound 'VAL301', subject to payment of the relevant fees.
The AIM-traded firm said the VAL301 compound was derived from its lead compound, 'VAL201', with its potential therapeutic approach based on the same mode of action.

VAL301 was currently in late-stage pre-clinical development as a non-invasive, effective treatment for the non-cancerous, but hugely debilitating, gynaecological condition endometriosis, which was characterised by endometrial-like tissue found outside of the uterine cavity.

The condition represented one of the major causes of female infertility.

ValiRx said the compound had been 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.

It explained that the latest European patent allowance provided additional protection for the company, and the allowance followed its receipt last year of a US Patent Grant, and the more recent Patent Allowances covering China and the Russian Federation.

"This is excellent news and I am delighted that the patent portfolio for our lead compounds continues to strengthen, add value and receive further endorsement," said ValiRx chief executive officer Dr Satu Vainikka.

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