Business
Interim Report
Interim Report.
About this update from Valirx Plc
[{"type":"text","content":"\n \nFor immediate release: 10am - 28th September 2007\n\n VALIRX PLC \n\n (\"ValiRx\" or the \"Company\") \n\n Interim Results for the Six Months ended 30 June 2007 \n\nValiRx Plc (AIM: VAL), the cancer therapeutics company, today announces its\nunaudited interim results for the six month period ended 30 June 2007.\n\nCHAIRMAN'S REPORT\n\nFor the Period Ended 30 June 2007\n\nI am pleased to report that during the six month period ended 30 June 2007 and\nthe subsequent period to date, the business has continued to develop steadily\nacross its three chosen areas of focus.\n\nScience\n\nWe believe that excellent progress has been made in our core science focus\nwhere we look to acquire and develop new and innovative R&D programmes in the\nepigenomic and diagnostic fields. In April, Cronos Therapeutics Limited\n(\"Cronos\") signed an agreement with the University of Surrey's Postgraduate\nMedical School to co-develop prostate and bladder cancer diagnostics based on\nCronos' proprietary HyperGenomics technology. At the same time, Cronos and\nATDBio Ltd completed their initial experiments involving GeneICE (the\ngene-silencing technology) with confirmation that the GeneICE drug binds to its\npredicted genetic target under model physiological conditions. Post the period\nend, the efficacy of the GeneICE compound to arrest the development and\nterminate the existence of cancer cells received further support through the\npositive findings from Cancer Research Technology (\"CRT\"), as announced to the\nmarket earlier this month.\n\nDuring the period, we have also progressed in the protection of our portfolio\nof intellectual property (\"IP\") in the world's major life science markets. In\nApril, we received patent approval from the United States Patent and Trademark\nOffice covering all 50 US states for GeneICE; then in August, we received\npatent approval by the European Patent Office covering 23 European states.\n\nTo further support the commercialisation of our portfolio of gene regulation\nand epigenetic diagnostic technologies, the Company has signed two strategic\nalliances with US companies. The first agreement with Bridgetech, a company\nfocused on healthcare products and services in the US & Asia, governs\ncooperative efforts in creating and exploiting market technology transfer\ninitiatives between Europe and China. The...