ValiRx Plc (LON:VAL) shares rose on Thursday following news the firm has teamed up with UK-based clinical contract research organisation Aptus to help prepare the clinical development plan for its VAL301 endometriosis treatment.
VAL301 is a reformulation of ValiRx’s flagship VAL201 anti-cancer drug that is currently in late-stage pre-clinical development.
Aptus has been brought in to help bring VAL301 nearer to clinical studies, and part of its remit will be to help with the design of a phase I/II trial.
“Our agreement with Aptus represents an important stage in preparing the VAL301 compound for clinical study,” said chief executive Satu Vainikka.
“I look forward to VAL301's future development and its potential to benefit women who suffer from this extremely painful condition.”
Aptus CEO Steve McConchie added: “We look forward to exploring some innovative opportunities with the team in order to optimise the programme delivery timelines and progress this important potential treatment rapidly to patients.”
In afternoon trading, ValiRx shares were 2.9% higher at 0.18p.
-- Adds share price --