For immediate release: 13.02.2008
VALIRX PLC
("ValiRx" or the "Company")
ValiRx and Clarity Imaging International Inc
Sign Letter of Intent
ValiRx (AIM: VAL), the cancer therapeutics company, is pleased to announce that
it has signed a Letter of Intent with Clarity Imaging International Inc.
("Clarity"), the medical diagnostic and imaging technology company, to secure
the distribution rights Clarity holds for the human papillomavirus (HPV)
Geneotype Diagnostic Test Kit for the European Economic Area and Switzerland.
HPV infection is associated with nearly all cases of cervical cancer, the
second most common cancer in women after breast cancer, affecting more than
400,000 women worldwide each year.
According to information published in USA Today (13.10.07), HPV screening has
already been shown to be a superior method to current PAP smear tests for
identifying cervical pre-cancers. Cervical cancer is commonly caused by
"high-risk" types of the human papillomavirus.
The HPV Geneotype Diagnostic Test Kit over which ValiRx is to secure EEA and
Swiss distribution rights, currently tests for 39 subtypes of HPV.
Dr Satu Vainikka, CEO of ValiRx, commented:
"We are delighted to have entered this agreement. The HPV Test Kit is a proven
piece of technology that provides a preventive, predictive, and prognostic test
that can be rapidly introduced to the market. We believe the market demand will
be significant."
According to Leerink Swann & Co, Boston, the HPV diagnostic market is set to
become a billion dollar market in the coming years and is currently estimated
to be worth USD150 million.
--Ends--
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 Therapeutics
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
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