ValiRx Plc (LON:VAL) is continuing discussions with potential partners over funding for the next stage of clinical studies for its two lead cancer drugs after good progress in 2016.
The AIM-listed group has two drugs currently in clinical trial: VAL201 for prostate cancer; and VAL401 for lung cancer.
VAL201 has the last phase of its Phase l/ll study to complete where patients will receive the highest dose level prescribed in the trial protocol
A Phase ll Clinical Trial of VAL401 meanwhile is expected to complete dosing by the end of 2017.
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Expansion of the trials into multi-centre studies will accelerate the accumulation of data and potential trial endpoints, ValiRx added.
Oliver de Giorgio-Miller, chairman, said the clinical trials have performed well so far and in line with expectations.
“Based on the positive results of the VAL201 and VAL401 compounds, the ValiRx team continue their discussions concerning late stage clinical studies and regarding potential partnerships and collaborations with pharmaceutical partners".
This may include adjusting the lead drugs for other indications such as such as breast and ovarian cancer.
VAL301 for example is a reformulation of VAL201 but for the treatment of Endometriosis. A first clinical trial for VAL301 is scheduled for 2018.
Losses for the year were £4.17mln (2015: £2.7mln) with a loss per share from continuing operations of 8.54p (2015: Loss 5.63p).
ValiRx raised £1.16mln through a placing in March.