Valirx (VAL)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

3.55p
   
  • Change Today:
    -0.30p
  • 52 Week High: 14.13
  • 52 Week Low: 3.50
  • Currency: UK Pounds
  • Shares Issued: 132.35m
  • Volume: 888,756
  • Market Cap: £4.70m
  • RiskGrade: 435

ValiRx forms new majority-owned breast cancer subsidiary

By Josh White

Date: Monday 24 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Women's health and cancer therapeutics company ValiRx announced the formation of a new partially-owned subsidiary, Cytolytix, on Monday, which had signed an intellectual property licence agreement with King's College London (KCL).
The AIM-traded firm said Cytolytix had been established to progress the triple negative breast cancer project, 'CLX001', through preclinical development to a stage of readiness for clinical trials.

It described CLX001 as a peptide in a nanoparticle formulation that was initially developed for the treatment of triple-negative breast cancer, with potential for disease expansion into ovarian and other difficult-to-treat solid tumour cancers.

CLX001 was designed for "precision destruction" of cancer cells to avoid excessive side effects.

The company said the novel mechanism of action allowed for broad application across various cancers, as it targeted the tumour microenvironment and would not require specific cell markers or specific gene mutations for activity.

ValiRx holds 60% of the shares in Cytolytix, with the remaining 40% split between KCL at 20%, and the two academic inventors of CLX001, Martin Ulmschneider and Charles Chen.

Under the intellectual property licence, ValiRx would provide the necessary funding to Cytolytix for further preclinical development of the technology.

The licence would also cover milestone and royalty payments between the parties should the project be sub-licensed in the future.

As the major shareholder, ValiRx said it would lead the development of CLX001 with oversight provided by the Cytolytix board, consisting of representatives from ValiRx, KCL and the inventors.

"I am really pleased to announce the launch of Cytolytix today," said ValiRx chief executive officer Dr Suzy Dilly.

"This project is the first output of the strategy we launched in 2020 to bring new academic projects into our pipeline and is an excellent example of the innovative science being carried out in university departments.

"Expanding our pipeline with CLX001 is an important step towards diversifying our pipeline and ensuring innovative research and development remains the foundation of our company."

At 1457 BST, shares in ValiRx were up 5.44% at 15.02p.

Reporting by Josh White at Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Valirx Market Data

Currency UK Pounds
Share Price 3.55p
Change Today -0.30p
% Change -7.79 %
52 Week High 14.13
52 Week Low 3.50
Volume 888,756
Shares Issued 132.35m
Market Cap £4.70m
RiskGrade 435

Valirx Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.54% below the market average23.54% below the market average23.54% below the market average23.54% below the market average23.54% below the market average
7.41% above the sector average7.41% above the sector average7.41% above the sector average7.41% above the sector average7.41% above the sector average
Price Trend
89.26% below the market average89.26% below the market average89.26% below the market average89.26% below the market average89.26% below the market average
64.91% below the sector average64.91% below the sector average64.91% below the sector average64.91% below the sector average64.91% below the sector average
Income Not Available
Growth Not Available

Valirx Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:19 20,000 @ 3.59p
16:15 13,380 @ 3.55p
16:05 36,000 @ 3.55p
16:02 60,340 @ 3.51p
16:01 250,000 @ 3.59p

Valirx Key Personnel

CFO Gerald Desler
CEO Suzanne Dilly

Top of Page