As part of the deal, ValiRx is paying the investor a £212,500 break fee; slightly higher than the £150,000 bosses had previously expected.
The fee will be paid in shares issued at the lowest closing price during the five days prior to the payment. ValiRx said this would protect its current cash position.
The company reminded investors that a £400,000 tax credit is due next month, while it has also raked in another £150,000 from the sale of an unlisted security.
A recent £300,000 share placing has also helped to top up the coffers.
“As previously announced, the company's working capital position is dependent on new funds being made available to it and it continues to manage its working capital position carefully.”
In late April, European High Growth agreed to subscribe for a total of 213mln shares in ValiRX at a price of 0.6p each, raising gross proceeds of £1.28mln.
The money was to be drawn down in three equal tranches of £426,000, which would have helped fund the Phase II trial of ValiRx's prostate cancer drug, VAL201, through to completion.
However, last month ValiRX said it was in advanced discussions to terminate the agreement following a delay to the issue of Tranche 2 shares.
ValiRx shares were down 1.7% in late-afternoon trading on Tuesday.