For immediate release: 18th March 2008
VALIRX PLC
("ValiRx" or the "Company")
Valibio Research Update
ValiRx (AIM: VAL), the cancer therapeutics company, is pleased to provide the
following update on the research and commercialisation activity of ValiBIO, the
joint venture with BIO.be in which ValiRx holds a 77% stake.
Following the signing of the ValiBIO shareholder agreement in December 07,
ValiRx is able to report that its development laboratory has been successfully
commissioned at the Institute of Pathology and Genetics, Gosselies, Belgium,
and has been operational since January 2008.
Initial ValiBIO activity has focused on conducting tests on Nucleosomics, the
epigenetic diagnostic platform1 which the Company is looking to develop into a
high throughput, rapid, testing mechanism for a broad number of cancers.
Initial results have been positive - the Nucleosomics technology successfully
identifying specific epigenetic targets in the blood of cancer patients.
In separate activity, ValiBIO has also begun the evalution process for CE
marking on the HPV Geneotype Diagnostic Test Kit, ValiBIO intending to launch
the product to the European market later this year. This activity follows the
signing of an LOI between ValiRx and Clarity, announced on the 13.02.08, under
which ValiRx secured the European and Swiss distribution rights for the human
papillomavirus (HPV) Geneotype Diagnostic Test Kit from Clarity.
Dr Satu Vainikka, CEO of ValiRx, commented:
"We are delighted with the research and commercial progress being made by
ValiBIO since its formation late last year. We look forward to it progressing
the existing projects under evaluation and to introducing further diagnostic
platforms for rapid development and commercialisation."
---ENDS---
Note to editor
1. In cancer cells, the normal control by which genes are switched "on" or
"off" is lost and aberrant gene switching occurs. An epigenetic diagnostic
platform is a method for detecting this aberrant gene switching so that
cancerous changes can be identified at an early stage.
About ValiRx plc
ValiRx is a biopharmaceutical development company that is building a portfolio
of complementary cancer-related therapeutic and diagnostic technologies. It
currently holds a worldwide exclusive license for Nucleosomics, the early stage
oncology diagnostics technology, and has majority stakes in Cronos Ltd and
ValiBIO SA:
* Cronos holds worldwide exclusive licenses to two innovative and potentially
market changing technologies, GeneICE and HyperGenomicsTM, and is
developing further novel cancer therapies;
* ValiBIO SA is a Belgium joint venture between ValiRx and BIO.be focusing on
the development and commercialisation of products in the epigenomics
sector, the first products to be put into development being HyperGenomics
and Nucleosomics. ValiRx has a 77% majority holding in the company.
ValiRx is headquartered in London, England. Further information can be found at
www.valirx.com
Contact Details:
ValiRx Plc WH Ireland GTH Communications
Dr Satu Vainikka David Youngman Toby Hall / Brooke Paul
+44 (0) 203 008 4416 +44 (0) 161 832 +44 (0) 20 7153 8035
2174
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