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US GeneICE Patent Granted
US GeneICE Patent Granted.
About this update from Valirx Plc
[{"type":"text","content":"\n \nFor immediate release: 26th April 2006\n\n VALIRX PLC \n\n (\"ValiRx\") \n\n US GeneICE Patent Granted \n\nValiRx (AIM: VAL), the cancer therapeutics company, today announces that its\nproprietary gene-silencing technology - GeneICE - has received patent approval\nby the United States Patent and Trademark Office covering all 50 US states.\nValiRx holds the rights to GeneICE through its subsidiary, Cronos Therapeutics\nLtd (\"Cronos\"), which has an exclusive worldwide license agreement with\nImperial College Innovations.\n\nThe US patent approval follows the granting of a European-wide patent for the\nGeneICE technology by the European Patent office.\n\nThe fast growing global cancer treatment market is currently worth around\n$45billion and is expected to double during the next four years.\n\nGeneICE compounds have the potential to freeze the development and growth of\ncancerous cells and also have potential major applications in inflammatory\ndisease and inherited genetic conditions. It is believed that GeneICE - already\ntested on six cancer cells - could be relevant to up to 80% of breast cancers,\n90% of prostate cancers and 80% of leukeamias.\n\nPre-clinical trials on GeneICE are currently being undertaken by Cancer\nResearch Technology Limited (\"CRT\") at its own cost. CRT is wholly owned by\nCancer Research UK, the largest independent funder of cancer research in the\nworld.\n\nDr Satu Vainikka, CEO of ValiRx, commented:\n\n\"The US represents the world's most significant oncology market - a dynamic\nbeing fuelled by an ageing - and affluent - baby-boomer generation. Through\nthis patent approval, we are now excellently positioned to address this market\nneed.\"\n\n --- ENDS--- \n\nNotes to Editors:\n\nCronos' GeneICE technology enables the selective silencing of specific genes in\nhumans and animals by targeted histone deacetylation leading to chromatin\ncondensation.\n\nInformation on ValiRx\n\nValiRx is a biopharmaceutical development company that is building a portfolio\nof complementary cancer-related therapeutic and diagnostic technologies. It\ncurrently holds stakes in Cronos and Morphogenesis Inc;\n\n * Cronos holds licenses to two innovative and potentially market changing\n technologies, GeneICE and HyperGenomics;\n \n * Morphogenesis Inc. is developing a portfolio of cell therapy products for\n the treat...