Business
Replacement: Evaluation and Transfer Agreement
ValiRx PLC has entered into a nine-month Evaluation and Material Transfer Agreement with McGill University and IRICoR to establish the target engagement and potency of a second-generation RNA Helicase inhibitor, with ValiRx owning any generated evaluation results. IRICoR will establish a subsidiary, NewCo, to commercialize these results, and ValiRx has an option to license the evaluation results into NewCo for a pre-agreed equity holding. ValiRx may also provide up to £2 million in seed funding for NewCo in exchange for further equity, or alternatively, if ValiRx declines the equity license option, it is entitled to a cash payment of 1.5 times its total 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 \nThe following amendment has been made to the 'New Evaluation and Material Transfer Agreement' announcement released on 9 January 2026 at 7:00 a.m. under RNS No 2552O.\nThe announcement has been amended to 'the Company has an option to license the Evaluation Results into NewCo for a pre-agreed equity holding.' in the third paragraph of the announcement.\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\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 pre-agreed equity holding.\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...