Business
ValiBIO Update
ValiBIO Update.
About this update from Valirx Plc
[{"type":"text","content":"\n \nFor immediate release: 11th December 2007\n\n VALIRX PLC \n\n (\"ValiRx\" or the \"Company\") \n\n ValiBIO Update \n\nFollowing the announcment on 19 July 2007, ValiRx Plc (AIM: VAL), the cancer\ntherapeutics company, is pleased to announce that the founders' shareholder\nagreement (\"the Agreement\") for ValiBIO S.A (\"ValiBIO\"), the research and\ncommercialisation company focused on the epigenomics sector, has been signed\nbetween the Company and BIO.be (\"BIO\"), the commercial outlet of the Institute\nof Pathology and Genetics (\"IPG\"), a leading pathology centre in Belgium.\n\nThrough the Agreement, ValiBIO will benefit from an initial cash investment\ncommitment from BIO; the appointment of key BIO personnel including IPG/BIO's\nhighly regarded Dr Jean-Michel Debry as Chief Scientific Officer; and use of\nstate-of-the-art laboratory and equipment, ValiBIO's offices being located\nwithin IPG.\n\nUnder the Agreement, ValiRx retains a 77% holding in ValiBIO.\n\nDr Satu Vainikka, CEO of ValiRx, commented:\n\n\"We are delighted to have signed this Agreement as it allows the further\ndevelopment and commercialisation activity of two key technologies that ValiRx\nholds licenses on - HyperGenomicsTM and NucleosomicsTM - to take place in an\nenvironment of acknowledged excellence. We are also encouraged by the\nadditional regional grant support that is potentially available to R&D\ncompanies in the Walloon Region\"\n\nPatrick J. Rousseau, CEO of ValiBIO, added:\n\n\"This joint-venture will dramatically benefit from IPG/BIO end user's expertise\nand for diagnostics tools development and validation. Additionally, the setting\nof our R&D laboratory within the IPG facility in Gosselies will significantly\ncontribute reaching high quality standards.\"\n\nMr Bernard Morelle head of the IPG / BIO group, said:\n\n\"We are delighted progressing in the extension of our partnership with ValiRx\nin this exciting opportunity and look forward to implementing our collaboration\nthrough R&D projects and commercial development.\"\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 technol...