VAL201 is being used to treat men with prostate cancer drug. It is also being developed to combat hormone-induced unregulated growth including endometriosis.
It has been shown to be safe and well tolerated during phase I/II trials and, crucially, there was “primary evidence” of the drug’s activity in prostate cancer. The company has said previously that results from the trial are expected at the end of the first-half, which will be followed by data analysis and the publication of the full findings of the clinical assessment.
In an update alongside its full-year results, ValiRx also said it would either out-licence VAL201 to a major pharmaceutical company or proceed to a phase llb study once dose-ranging is complete.
In the prelims, which were largely a summary of the work carried out last year, it said it was aiming to get VAL301, a treatment of the gynaecological condition, endometriosis, into the clinic this year.
However its plans would be “dependant on funding and regulatory clearance”, it added.
ValiRx is assessing potential commercial or academic tie-ups for VAL101, which has been shown to induce programmed cell death.
The results showed ValiRx made a loss of £4.3mln last year while raising £3.7mln by issuing new shares.
At the end December last year it had cash of £372,872. It is currently in financing discussions.