ValiRx PLC (LON:VAL) saw its shares tick higher on news it has received positive news regarding the US patent application for its lead therapeutic compound, VAL201.
The United States of America patent and trademark office has given notice of allowance for the US Patent Application No.14/575065, otherwise known by the snappy title “Anti-Androgen Peptides and Uses Thereof in Cancer Therapy".
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VAL201 is currently in a Phase I/II study that is assessing safety and tolerability and its effect in the treatment of prostate cancer and other solid tumours.
The patent application covers the molecule and use of compounds in pharmaceutically acceptable products. The patent coverage also includes a wide variety of derivatives, modifications and analogues of the compounds and their mode of action; furthermore, the protection sought includes therapeutic formulations with associated delivery systems.
ValiRx said allowance of this US patent will represent one of the cornerstones of its commercial strategy, as ValiRx has already secured patent protection in several other territories, including Europe.
"It is timely and very exciting to receive this notification of allowance for the VAL201 patent,” said Satu Vainikka, the chief executive officer of ValiRx, who noted that the approval comes only weeks after the company received approval from the UK Medicines and Healthcare Products Regulatory Agency and Research Ethics Committee for the company to expand its VAL201.
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“This US allowance means we can proceed to strengthen the VAL201 patent portfolio and, once granted, will provide ValiRx with patent protection in all its largest commercial markets globally. ValiRx looks forward optimistically to its future prospects," he added.
In afternoon trading, ValiRX shares were 0.5%, or 0.02p higher at 4.88p, having eased back from a session peak of 6.10p.
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