17 June 2024

ValiRx PLC

("ValiRx" or the "Company")

Inaphaea Contract Award

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, provides the following update from its wholly owned subsidiary Inaphaea BioLabs Limited ("Inaphaea").

Inaphaea is pleased to confirm the execution of a revenue-bearing contract for the provision of Patient Derived Cell ("PDC") based services with a new client; a US-based biotech company.  The contract is a multi-stage project and encompasses analysis and provision of RNA data, acquired as part of the scientific package from Imagen Therapeutics, in addition to bespoke cell-based screening in the laboratory.  This initial phase of work will commence immediately, and the project is structured to build a long term working relationship with the client with scope to include potential future material revenue generation.

Andrew Carnegie, Head of Strategic Commercial Development at Inaphaea, commented "It's encouraging to have secured this contract in the exciting area of immuno-oncology, which will be a great opportunity to showcase our skills and leveraging our PDCs in this area. 

"The US biotech market is a strong location to seek clients for Inaphaea and this contract is a positive step towards establishing our brand in further geographical regions".

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company take responsibility for this announcement.

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Notes for Editors

About ValiRx

ValiRx is a life science company focused on early-stage cancer therapeutics and women's health, accelerating the translation of innovative science into impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for enabling rapid translation of innovative science into clinical development.

Using its extensive and proven experience in research and drug development, the team at ValiRx selects and incubates promising novel drug candidates and guides them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. The team works closely with carefully selected collaborators and leverages the combined expertise required for science to advance.

Lead candidates from ValiRx's portfolio are outlicensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation. 

ValiRx listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

For further information, visit: www.valirx.com

Cautionary statement

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.