The European Patent Office has issued a patent notice of allowance for the compound, which will be granted once the AIM-listed company has paid the appropriate fees, following on from protection granted in the US last month.
VAL301, which is derived from the company’s in-clinic VAL201, is in late-stage pre-clinical development as a non-invasive, effective treatment for endometriosis, a hugely debilitating gynaecological condition that affects roughly 5-10% of women in their reproductive years and so represents one of the major causes of female infertility
The compound also has the potential to treat other hormone-induced, non-oncological abnormal growth and cell proliferation conditions, such as benign prostatic hyperplasia.
There is substantial global unmet medical need for both of these conditions.
“This is excellent news and I am delighted that the patent portfolio for our lead compounds continues to strengthen, add value and receive further endorsement,” said chief executive Satu Vainikka.
ValiRx shares were up 7% to 0.18p on Thursday morning.