ValiRx Plc (LON:VAL) shares shot over 30% higher in early trading after it said its optimised VAL101 compound has been effective in inducing programmed cell death in cancer cell models, a process called apoptosis.
The company said the results showed a “superior apoptotic effect in comparison to currently available reagents”.
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It added its studies involved a wide range of technical and scientific approaches that demonstrated the enhanced effect of the compound on the prevention of cancer growth at cellular biochemical and genomic levels.
This follows on from work to optimise VAL101, which will now be taken forward for preparation and use in clinical trials. The drug candidate was created using the company’s proprietary GeneICE platform.
ValiRX is working with commercial and academic partners in Finland, Germany and Denmark to develop VAL101. The company said it plans to add commercial partners in the US and China to support manufacturing and the clinical phase.
“I am extremely pleased about these developmental results that the collaboration has produced,” said ValiRX chief executive, Dr Satu Vainikka.
Around 9.15am, ValiRX shares topped the London market gainers list, up 36.4% at 3.75p.
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