ValiRx Plc Half-yearly Report

ValiRx Plc Half-yearly Report

Valirx Plc, a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, announces its half-yearly report for the six months ended 30 June 2011.

  • Revenue for the six months to 30 June 2011 rose to £418,263 (Six months to 30 June 2010: £64,474; year to 31 December 2010: £177,297)
  • Completion of sale of ValiBio SA
  • Launch of Chlamydia self-test kits
  • Completion of placing of new shares raising £3.3 million (before fees and expenses)
  • Advances with method of production of GeneICE (Val 101) and Val 201
  • Sale of Licence to Volition Singapore
  • Successful second year extension of Eurostar grant for GeneICE (Val 101)

Post period

  • Important therapeutic role for Val 201 established in collaboration with Oxford University
  • Acquisition of ValiRx Finland OY
  • Distribution agreement signed for Finland and Sweden for SELFCheck kits
  • Collaboration with Physiomics Plc to maximise Val 201's clinical prospects.

Dr Satu Vainikka, Chief Executive, commented that:
"I am delighted with the progress that we have made during the past six months.  A significant capital injection via a placing, increased revenue, together with the sale of ValiBIO in the period, have strengthened our balance sheet, enabling us to concentrate on building incremental value in our cancer therapeutics and companion diagnostics, through product development. As we have seen, advances in GeneICE development and manufacturing are anticipated to save production costs and have enhanced the prospects for GeneICE products.
With additional pre-clinical studies of our lead drug candidates having been conducted this year and demonstrating their potential for filling unmet needs in a number of tumours, I am very pleased that we have been able to establish important collaborations, to further accelerate our preclinical programmes and to enhance their clinical outcomes.  With your Company's lead therapeutic products being on the cusp of clinical trials, we have a solid platform from which to drive ValiRx forward and firmly position ourselves at the forefront of personalised medicine."

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