For immediate release: 26th April 2006
VALIRX PLC
("ValiRx")
US GeneICE Patent Granted
ValiRx (AIM: VAL), the cancer therapeutics company, today announces that its
proprietary gene-silencing technology - GeneICE - has received patent approval
by the United States Patent and Trademark Office covering all 50 US states.
ValiRx holds the rights to GeneICE through its subsidiary, Cronos Therapeutics
Ltd ("Cronos"), which has an exclusive worldwide license agreement with
Imperial College Innovations.
The US patent approval follows the granting of a European-wide patent for the
GeneICE technology by the European Patent office.
The fast growing global cancer treatment market is currently worth around
$45billion and is expected to double during the next four years.
GeneICE compounds have the potential to freeze the development and growth of
cancerous cells and also have potential major applications in inflammatory
disease and inherited genetic conditions. It is believed that GeneICE - already
tested on six cancer cells - could be relevant to up to 80% of breast cancers,
90% of prostate cancers and 80% of leukeamias.
Pre-clinical trials on GeneICE are currently being undertaken by Cancer
Research Technology Limited ("CRT") at its own cost. CRT is wholly owned by
Cancer Research UK, the largest independent funder of cancer research in the
world.
Dr Satu Vainikka, CEO of ValiRx, commented:
"The US represents the world's most significant oncology market - a dynamic
being fuelled by an ageing - and affluent - baby-boomer generation. Through
this patent approval, we are now excellently positioned to address this market
need."
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Notes to Editors:
Cronos' GeneICE technology enables the selective silencing of specific genes in
humans and animals by targeted histone deacetylation leading to chromatin
condensation.
Information on ValiRx
ValiRx is a biopharmaceutical development company that is building a portfolio
of complementary cancer-related therapeutic and diagnostic technologies. It
currently holds stakes in Cronos and Morphogenesis Inc;
* Cronos holds licenses to two innovative and potentially market changing
technologies, GeneICE and HyperGenomics;
* Morphogenesis Inc. is developing a portfolio of cell therapy products for
the treatment of chronic disorders. Its most advanced product, being
ImmuneFxâ„¢ for which it recently received a patent from the US patent
office.
ValiRx is headquartered in London, England.
Contact Details:
ValiRx Plc WH Ireland GTH Communications
Dr Satu Vainikka David Youngman Toby Hall / Jade
Mamarbachi
+44 (0) 203 008 4416 +44 (0) 161 832 +44 (0) 20 7153 8035
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