ValiRx PLC (LON:VAL) has struck a new agreement with Physiomics PLC (LON:PYC) as the company advances its potential prostate cancer treatment.
Physiomics, a consultancy that provides mathematical modelling, will use the latest version of its Virtual Tumour technology applied to data generated by the completed clinical trial of VAL201, a candidate being developed by ValiRX.
It will also support ValiRx in modelling the use of the VAL201 peptide in endometriosis (VAL301) and Coronavirus (COVID-19) (BC201).
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This new agreement between the companies supersedes a prior deal, from September 2011.
"I am pleased to be able to expand our collaboration and the scope of work being carried out by Physiomics,” said Dr Suzy Dilly, ValiRX chief executive.
“Enhancing the scientific understanding of our results using cutting edge technology ensures we maximise the value of the data we have collected.
“This will help in the design and execution of future clinical trials and support discussions with potential new partners. We expect that outputs from the application of Physiomics' technology will be incorporated into scientific publications presenting the results from the VAL201 clinical trial."
The deal will see Physiomics receive up to £6mln in fees, comprising 6% of future net revenue received by ValiRx relating to its commercialisation of VAL201 and its derivatives - in any indication, including prostate cancer, endometriosis and Coronavirus.
Eligibility for the fee is conditional on the completion of certain agreed work programmes, which kick off from February 15.
Physiomics chief executive, Dr Jim Millen, added: “We are delighted to be working once again with ValiRx on a programme of work that replaces and extends that originally agreed in 2011.
“Since the time of the original agreement, Physiomics has gained significant additional experience in the modelling of prostate and other cancers and we will be aiming to generate new insights which can improve development outcomes."