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Press Release

FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2017

ValiRx
Posted on: 10 Apr 18

London, UK, 10 April 2018: ValiRx Plc (AIM: VAL), a life science company, which focuses on clinical stage cancer therapeutic development, taking proprietary & novel technology for precision medicines towards commercialisation and partnering, today announces its final results for the year ended 31 December 2017.

 

HIGHLIGHTS

Operational Highlights

  •       Period of substantive and encouraging development across drug portfolio taking lead compounds to significant value inflection points;
  •        Phase l/ll Clinical Trial of VAL201 has continued to demonstrate high safety and tolerability and has received MHRA approval to extend and expand the scope of the clinical trial to treat prostate cancer;
  •        Completion of VAL401’s Phase II Clinical Trial in patients with lung cancer - with trial data offering palliative stage patients an improvement in symptoms alongside improved survival prospects;
  •        Period saw the optimized, commercially viable, 2nd generation development of the VAL101 molecule derived from ValiRx’s proprietary GeneICE platform to shut down rebellious genes causing cancer and potentially some neurological disorders – preparation is underway for the compound’s entry into the clinic;
  •        VAL301 is in late pre-clinical phase initially for the treatment of the gynaecological condition, endometriosis – a reformulation of VAL201, which pre-clinical studies suggest does not compromise bone density or fertility.  Final laboratory tests are underway prior to advancing the VAL301 compound into additional toxicology and then clinical trials;
  •        Patent protection and portfolio coverage was extended for Val201 and VAL401 during the period with US patent granted for VAL201 in Q1 2018.

Financial Highlights

  •        Four Placings during the period raising £3.07m to advance the clinical trial of VAL201 and for the pre-clinical progress of other programmes;
  •        Marked 36.4 % reduction in total comprehensive loss for the year to £3.02m (2016: Loss £4.75m) reflecting decrease in clinical trial expenditure on medicinal products;
  •        Loss per share from continuing operations of 1.90p (2016: Loss 8.54p);

 

  •        Cash and cash equivalents as at 31 December 2017 of £701,410 (2016: £560,763).

Oliver de Giorgio-Miller, Non-Exec Chairman of ValiRx, commented

“I believe the Group has seen substantive and encouraging developments across its portfolio during the period to December 2017. The progress of our core clinical products, VAL201 and VAL401 has been substantial and both have reached significant value inflection points.  The current momentum and exciting trajectory of both compounds offer potential investors an investable proposition and an attractive offering to joint venture partners.”

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For more information, please contact:

 

ValiRx plc

Tel: +44 (0) 20 3008 4416

www.valirx.com

Dr Satu Vainikka, Chief Executive

Tel: +44 (0) 20 3008 4416

Tarquin Edwards, Head of Communications.

Tel: +44 (0) 7879 458 364

tarquin.edwards@valirx.com

Cairn Financial Advisers LLP (Nominated Adviser)

Liam Murray / Jo Turner

Tel: +44 (0) 20 7213 0880

Novum Securities Limited

Colin Rowbury

Tel: +44 (0) 20 7399 9400

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 10/04/2018

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