ValiRx secures cash to fund VAL201 trial through to completion
In total, European High Growth Opportunities Securitisation Fund has agreed to make at least £7.3mln available to ValiRx bosses
Company
LON:VAL
ValiRx is a drug development company, which focuses on the translation of scientific innovation into clinical candidates for cancer, related conditions and women’s health. The company's specialised business model connects science, finance and commerce to accelerate early-stage drug development. It identifies proprietary and novel drug candidates with the potential to improve patient lives, providing the expertise and investment required for optimised development and value creation.
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In total, European High Growth Opportunities Securitisation Fund has agreed to make at least £7.3mln available to ValiRx bosses
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One European and one US group have the signed letters of intent for funding
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VAL201 is coming towards the end of a Phase I/II study, while VAL301 is in late pre-clinical development
The AIM-listed clinical stage biotechnology said its company broker, Novum Securities issued 83,333,333 new ordinary shares at a price of 0.6p each with new and existing investors
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The patents protect VAL301 as a treatment for endometriosis and prostate enlargement in two of the world’s most populous countries
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VAL401 is a new formulation of the antipsychotic drug risperidone
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The UK blue-chip benchmark closed down around 24 points at 6,918, while FTSE 250 added nearly 107 points on the day
The ten-year plan, set out on Monday, includes a greater focus on earlier detection of cancers and personalised medicines, both of which ValiRx specialises in