ValiRx plc Extension of Collaboration Agreement
Extension of Collaboration Agreement
London, UK - ValiRx plc (AIM:VAL), a clinical stage drug development company, announces today that it has entered into a new agreement with Physiomics plc (“Physiomics”)(AIM:PYC), the oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions. The new agreement supersedes the agreement between Physiomics and the Group which was announced on 13 September 2011.
Under the terms of the new agreement, ValiRx will benefit from Physiomics’ experience in modelling the effects of prostate cancer treatment, as well the use of the latest version of its Virtual Tumour™ technology, which will be applied to derive valuable information from the additional data generated by the completed clinical trial of VAL201. Physiomics will also support ValiRx in modelling the use of the VAL201 peptide in endometriosis (VAL301) and Coronavirus (BC201).
Physiomics has developed a quantitative systems pharmacology approach that uses pre-clinical and clinical data to model the activity of a drug candidate. This data can be used to explore the mechanism of action, disease impact and optimal dosing strategies.
Physiomics will receive a fee (capped at £6m) of 6% of any future net revenues that may be received by ValiRx relating to its commercialisation of VAL201 and its derivatives in any indication, including prostate cancer, endometriosis and treatment for Coronavirus infection. Eligibility for part of this fee will be conditional on completion of an agreed program of work by Physiomics that builds on the work already carried out under the 2011 agreement. This program of work will start on 15 February 2021 and is required to be carried out by 15 November 2021. In recognition of the collaborative nature of this new agreement, Physiomics will also be offered a seat on the ValiRx scientific advisory board.
Dr Suzy Dilly, Chief Executive Officer of ValiRx, commented: “I am pleased to be able to expand our collaboration and the scope of work being carried out by Physiomics. Enhancing the scientific understanding of our results using cutting edge technology ensures we maximise the value of the data we have collected. This will help in the design and execution of future clinical trials and support discussions with potential new partners. We expect that outputs from the application of Physiomics’ technology will be incorporated into scientific publications presenting the results from the VAL201 clinical trial.”
Dr Jim Millen, Chief Executive Officer of Physiomics, added: “We are delighted to be working once again with ValiRx on a programme of work that replaces and extends that originally agreed in 2011. Since the time of the original agreement, Physiomics has gained significant additional experience in the modelling of prostate and other cancers and we will be aiming to generate new insights which can improve development outcomes.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The Directors of the Company take responsibility for this announcement.