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ValiRx has entered into a Licence Agreement with Cancer Research Technology Limited (“CRT”) to evaluate a novel prostate cancer compound (coded VAL201) that has been found in vivo (pre-clinical) to arrest prostate cancer growth
London, UK | July 9, 2008 | ValiRx plc (AIM:VAL, ‘ValiRx’), the cancer therapeutics and diagnostics company, has entered into a Licence Agreement with Cancer Research Technology Limited (“CRT”) to evaluate a novel prostate cancer compound (coded VAL201) that has been found in vivo (pre-clinical) to arrest prostate cancer growth.
Under the terms of the License Agreement with CRT, ValiRx has a period of twelve months in which to complete the pre-clinical regulatory development of VAL201 including toxicology, prior to exercising its option to acquire exclusive worldwide rights to the compound as an anti-cancer agent and subsequently progress to clinical trials.
Annual global sales of prostate cancer drugs are estimated to be US$3 billion. With an ageing population and more effective screening and diagnostic technologies among other advances, each year 35,000 men are diagnosed with prostate cancer in the UK alone. In common with other cancers, early detection of prostate cancer gives the best chance of survival, yet presently the tumour claims 10,000 lives annually.
The Directors believe that VAL 201 has the potential to add significant value to ValiRx subject to the compound reaching the remaining pre-clinical and clinical milestones; early studies have thus far indicated that this lead drug candidate may also stop tumour growth in patients who are unresponsive to current treatments.
Satu Vainikka, CEO of ValiRx, commented: “This agreement further extends our relationship with Cancer Research Technology and expands our portfolio of late pre-clinical compounds. If successful, VAL 201 could offer the potential for novel treatment approaches to prostate cancer treatment where there is currently unmet need.“
Dr Phil L’Huillier, CRT’s director of business management, said: “We are very pleased to enter into an agreement for ValiRx to take forward into preclinical development this promising compound for the potential treatment of men with hormone resistant prostate cancer.”
SOURCE: ValiRx plc |
