Business
Further re Sale of Belgian Su
Further re Sale of Belgian Su.
About this update from Valirx Plc
[{"type":"text","content":"\n RNS Number : 3180A ValiRx PLC 31 January 2011 \n \n\n31 January 2011\nValiRx Plc\n(\"ValiRx\" or the \"Company\")\n \nFurther re Sale of Belgian Subsidiary, ValiBIO SA\n \nValiRx (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to report that the sale (announced 23/09/10) of its Belgian subsidiary diagnostic development business, ValiBIO SA (\"ValiBIO\"), to Singapore Volition Pte. Limited(\"Volition\"), a Singapore-based cancer diagnostics specialist, is now complete with ValiRx being in receipt of all funds it is due to date under sale agreement with Volition. In addition, all eligible expenses owed to the Company from the transaction, under the Wallonia regional funding agreement (announced 28 December 2009), have been agreed between the parties \nValiRx continues to retain its significant shareholding in Volition and in the future upside value and growth of the business and integration to date between the companies is progressing well. \n \nDr Satu Vainikka, CEO of ValiRx, commented:\n\"I am delighted that we have been able to exit from one of our investments so satisfactorily, whilst retaining a substantial interest in its future upside. I look forward to ValiRx and Volition's continued fruitful cooperation.\n \nFor more information, please contact:\n \n\n\n\n\nValiRx plc \n\n\nwww.ValiRx.com\n\n\n\n\nDr Satu Vainikka\n\n\nTel: +44 (0) 20 3008 4416\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial Advisers LLP \n\n\n\n\n\n\n\nNominated Adviser\n\n\nTel:+44 (0) 20 7148 7900\n\n\n\n\nLiam Murray\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHybridan LLP\n\n\n\n\n\n\n\nBroker\n\n\nTel: +44 (0) 20 7947 4350\n\n\n\n\nClaire Noyce\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeckwater PR\n\n\nTel: +44 (0)7879 458 364\n\n\n\n\nTarquin Edwards\n\n\[email protected] \n\n\n\n\n \n \nNotes for Editors\n \nValiRx Plc\nValiRx Plc is a biopharmaceutical company developing novel technologies and products in oncology therapeutics and diagnostics. The product focus is in the epigenomic analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.\n \nThe Company listed on AIM in October 2006 and is creating a portfolio of innovative ...