ValiRx PLC (LON:VAL) said discussions to form a joint venture with investment firm Alpha Blue Ocean have not progressed beyond what it told the market in May and June.
As a result, any deal brokered “will be considered along with other opportunities”.
The update came as the drug developer said Novum was its new nominated adviser after SVS Securities was placed into administration.
ValiRx said it expects to receive a £400,000 R&D tax credit shortly. In the meantime, it continues to carefully manage its working capital position.