ValiRx PLC - Essex-based life sciences company focusing on early-stage cancer therapeutics and women’s health - signs an extension to the evaluation and commercial use agreement with UK based Dominion Biotech Ltd announced on April 30. Under the extension, Inaphaea will share access to results from a proprietary screen of around 3000 Food & Drug Administration approved drugs generated in a panel of patient derived cells. The drugs are approved for non-cancer applications and Dominion will mine the data for potential cancer applications, carrying out routine analysis to validate the most promising candidates at its own expense; the parties will agree and share any additional in-depth studies if required. The results of the analysis will be jointly owned, and both parties will share equally all costs associated with filing, prosecution and maintenance of any arising patents for any repurposed drugs. The parties will work together to commercialise any new assets either to the owner of the original drug compounds or alternative companies interested in the repurposed assets. All revenue generated will be equally shared after costs.
Chief Executive Mark Eccleston says: ‘This is an excellent opportunity to unlock additional value from existing data sets acquired with our biobank. We believe there could be significant untapped potential for drug repurposing within this data set which can be realised at a minimal cost by working with our new partner, Dominion.’
Current stock price: 0.50 pence, closed down 8.9% in London on Monday
12-month change: up 33%
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