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ValiRx soars on anti-cancer compound's successful study
Clinical stage biotechnology company ValiRx has seen positive results from recent studies into the effectiveness of its VAL101 compound's ability to induce cancer cells to kill themselves off.
ValiRx's studies, which involved a wide range of technical and scientific methodologies demonstrating the enhanced effect of VAL101 on the prevention of cancer growth at cellular biochemical and genomic levels, showed a superior apoptotic effect in comparison to currently available reagents. Apoptosis is the death of cells which occurs as a normal and controlled part of an organism's growth or development.
The AIM-quoted firm has decided to progress its VAL101 programme towards the clinic in a full partnership with its existing commercial and academic collaborators in Finland, Germany and Denmark, as it also sought to add new commercial partners in the US and China in order to support the compound's manufacturing and clinical development.
Dr Satu Vainikka, chief executive officer of ValiRx, said, "Our previous two Eurostars Awards have clearly demonstrated and endorsed the importance of the project, which is targeting a very important and increasingly prominent area of the therapeutic industry, namely targeted and personalised therapies."
"I am also delighted by the technical excellence and high quality of the work conducted by the Consortium, which is extremely innovative. I look forward to the future development of this exciting field and to the development of VAL101 and further related GeneICE compounds. I also expect the results of these studies to be written up and submitted for publication in a relevant peer-reviewed journal," he added.
As of 0840 BST, shares had soared 40% to 3.85p.