LONDON (ShareCast) - (Sharecast News) - Clinical-stage drug development company ValiRx updated the market on its patent portfolio on Tuesday, reporting that it continued to build in 2020 with four patents granted during the last 12 months.
The AIM-traded firm said that in addition, this month the European Patent Office notified it of its intention to grant a patent which would extend patent cover for VAL201 into metastatic cancer.

It explained that those statements of protection were similar to those granted by the US patent office announced in November 2019, and would create a "broad coverage of use" of the peptide in an important area of oncology.

"It is important for ValiRx to continue to build value in our product portfolio by protecting intellectual property," said chief executive officer Dr Suzy Dilly.

"The patenting process involves rigorous scrutiny of the proposal, testing for novelty and utility before a patent is allowed to be granted.

"Granted patents provide protection of the intellectual value of our research and provide further evidence to potential partners of the value of our products."

Dr Dilly said she was "very pleased" that the company had continued to extend protection across its three core products through 2020 and into January of the new year.

"This is an important component of value creation in the company and a high priority for the board."

At 1409 GMT, shares in ValiRx were down 2.39% at 26.6p.

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