ValiRx PLC (LON:VAL) has beefed up its intellectual property (IP) once again after the junior biotech secured two new patents for its VAL301 compound in China and Russia, respectively.
VAL301 is a reformulation of ValiRx’s more advanced VAL201 compound and is being developed to treat endometriosis and benign prostatic hyperplasia – also known as prostate enlargement.
READ: ValiRx wins US patent protection for VAL301
These latest patents provide protection for the compound for these two indications in two of the world’s most populous nations and follow on from ValiRx’s US patent grant last summer.
“The patent portfolio and trial results are the main assets and value drivers for any small biotechnology company, such as ValiRx and I am pleased that our global patent protection is now so strong,” said chief executive Satu Vainikka.
“These patent grant allowances are a further endorsement for VAL301. The pre-clinical and clinical development of the compound will benefit considerably from the earlier strong progress seen in Phase I/II clinical trial of our prostate cancer therapeutic, VAL201, from which VAL301 is derived.”
ValiRx shares were up 9.9% to 0.88p in late afternoon deals on Thursday.
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