Business
Award for cancer therapeutics
Award for cancer therapeutics.
About this update from Valirx Plc
[{"type":"text","content":"\n RNS Number : 6520T ValiRx PLC 10 June 2009 \n \n ValiRx plc\n('ValiRx' or 'the Company')\n\nAward for cancer therapeutics project\n\nValiRx plc (ValiRx or 'the Company'), the biopharmaceutical company focused on the discovery and development of epigenomic platforms for the treatment and diagnosis of cancer, is pleased to announce that it has been awarded a grant of £270,000 by the UK's Government Technology Strategy Board under the Eurostars scheme.\nThe grant has been awarded in recognition of the work that has been conducted to date by the Company on its novel lead drug candidate, GeneICE, for the treatment of cancer. Early preclinical studies have shown that GeneICE selectively targets specific sequences of DNA in aberrant genes. ValiRx is leading an international consortium to progress the pre-clinical stages of product development. \nEurostars had 317 applications from across the European Union and the ValiRx project ranked second highest in the UK and fourth overall throughout Europe. Independent assessors evaluated the Company's achievements with GeneICE and awarded the project the maximum four stars for state of the art knowledge of gene technology, innovation and potential global impact on the treatment of cancer. The grant is non-repayable and is tax exempt.\nDr Satu Vainikka, CEO of ValiRx, said: 'We are gratified to know that our work with GeneICE has been recognised by such a prestigious body as the UK's Technology Strategy Board. Based on preclinical results to date, we believe that GeneICE has the potential to significantly improve the outcome of cancer treatment. We look forward to working with our distinguished partners to take our technology to the next step of development.'\n \nContact\n\n\n\n\n\nDr. Satu Vainikka, ValiRx\n\n\n\n020 3008 4416\n\n\n\n\nAdrian Kirk, WH Ireland\n\n\n\n0161 832 2174\n\n\n\n\nAlan Frame, Westport Communications\n\n\n020 7065 2696 / 07850 944187\n\n\n\n\n\n\nAbout ValiRx\nValiRx plc (AIM:VAL) is a cancer therapeutics and diagnostics company based in London and admitted to AIM in October 2006. The Company operates through two subsidiaries, the fully-owned ValiPharma, a UK-based epigenetic drug discovery and development business (www.valipharma.com), and the majority-owned (90 per cent) ...