Business
Letter of Intent
Letter of Intent.
About this update from Valirx Plc
[{"type":"text","content":"\n \nFor immediate release: 13.02.2008\n\n VALIRX PLC \n\n (\"ValiRx\" or the \"Company\") \n\n ValiRx and Clarity Imaging International Inc \n\n Sign Letter of Intent \n\nValiRx (AIM: VAL), the cancer therapeutics company, is pleased to announce that\nit has signed a Letter of Intent with Clarity Imaging International Inc.\n(\"Clarity\"), the medical diagnostic and imaging technology company, to secure\nthe distribution rights Clarity holds for the human papillomavirus (HPV)\nGeneotype Diagnostic Test Kit for the European Economic Area and Switzerland.\n\nHPV infection is associated with nearly all cases of cervical cancer, the\nsecond most common cancer in women after breast cancer, affecting more than\n400,000 women worldwide each year.\n\nAccording to information published in USA Today (13.10.07), HPV screening has\nalready been shown to be a superior method to current PAP smear tests for\nidentifying cervical pre-cancers. Cervical cancer is commonly caused by\n\"high-risk\" types of the human papillomavirus.\n\nThe HPV Geneotype Diagnostic Test Kit over which ValiRx is to secure EEA and\nSwiss distribution rights, currently tests for 39 subtypes of HPV.\n\nDr Satu Vainikka, CEO of ValiRx, commented:\n\n\"We are delighted to have entered this agreement. The HPV Test Kit is a proven\npiece of technology that provides a preventive, predictive, and prognostic test\nthat can be rapidly introduced to the market. We believe the market demand will\nbe significant.\"\n\nAccording to Leerink Swann & Co, Boston, the HPV diagnostic market is set to\nbecome a billion dollar market in the coming years and is currently estimated\nto be worth USD150 million.\n\n --Ends-- \n\nAbout ValiRx plc\n\nValiRx is a biopharmaceutical development company that is building a portfolio\nof complementary cancer-related therapeutic and diagnostic technologies. It\ncurrently holds a worldwide exclusive license for Nucleosomics, the early stage\noncology diagnostics technology, and has majority stakes in Cronos Therapeutics\nLtd and ValiBIO SA:\n\n * Cronos holds worldwide exclusive licenses to two innovative and potentially\n market changing technologies, GeneICE and HyperGenomicsTM, and is\n developing further novel cancer therapies;\n \n * ValiBIO SA is a Belgium joint venture between ValiRx and BIO.be focusing on\n the development and commercialisat...