Business
New Evaluation and Material Transfer Agreement
ValiRx PLC has entered into a nine-month Evaluation and Material Transfer Agreement with McGill University and IRICoR to assess a second-generation RNA Helicase inhibitor, with ValiRx's subsidiary Inaphaea Biolabs Ltd conducting the evaluation and owning any generated results. ValiRx has an option to license these results into a newly formed subsidiary, NewCo, for a 15% equity stake, and may provide up to £2 million in seed funding in exchange for further equity, with other funding sources diluting shares pari passu. Alternatively, if ValiRx declines the equity option within 30 days of evaluation completion, it is entitled to a 1.5x return on its investment, estimated at no more than £150,000, if the institutions subsequently commercialize the technology. Disclaimer*
About this update from Valirx Plc
[{"type":"text","content":"\n\n9 January 2026\n \nValiRx PLC\n(\"ValiRx\" or the \"Company\")\n \nNew Evaluation and Material Transfer Agreement\nValiRx plc (the \"Company\") (AIM: VAL), a life sciences company focusing on early-stage cancer therapeutics and women's health and The Royal Institute for the Advancement of Learning/McGill University (\"McGill\"), a Canadian based University, and The Institute for Research in Immunology, and Cancer - Commercialization of Research (\"IRICoR\"), a Canadian based non-profit organisation, have entered into a nine-month, Evaluation and Material transfer agreement (the \"Agreement\").\nUnder the new format Agreement with McGill and IRICoR (the \"Institutions\"), target engagement and potency of a second generation, orally available, RNA Helicase inhibitor will be established by the Company's wholly owned subsidiary, Inaphaea Biolabs Ltd (\"Inaphaea\"). During the evaluation period, any results generated will be owned by ValiRx (the \"Evaluation Results\").\nIRICoR will establish a Canadian registered, wholly owned, subsidiary (\"NewCo\") for the purpose of commercialising the Evaluation Results and Background Intellectual Property and grant NewCo an exclusive, worldwide sub-licensable license to any Background Intellectual Property. On completion of the Evaluation Results, the Company has an option to license the Evaluation Results into NewCo for a 15% equity holding under pre-agreed terms.\nNewCo will seek external non-dilutive and dilutive funding and ValiRx (and potentially other investors arranged by ValiRx) may, subject to availability of funds, provide up to £2 million of seed funding (\"Seed Funding\"). Any such Seed Funding would be provided in tranches in line with the cash requirements, in exchange for further equity under a development plan provided by the Company. Funding other than the Seed Funding shall dilute all shares pari passu.\nAlternatively, if within 30 days of the completion of the evaluation, ValiRx elects not to proceed with the license for equity, the rights to the Evaluation Results will be assigned to the Institutions and, if the Institutions then out-license, sell or otherwise commercialise the Technology at any time following the evaluation period, ValiRx will be entitled to a cash payment of 1.5x its total investment (estimated at no more than £150,000) from IRICoR.\nMark Ecc...