Evaluation Agreement with StingRay Bio

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, has entered into an agreement with StingRay Bio Limited ("StingRay") to investigate a lead series of drug candidates for use in oncology.

The lead series of molecules has been developed by StingRay using a target-based drug design approach, to create novel candidate drugs for kinases with well-validated links to cancer. Under the agreement, the Company will carry out a defined series of preclinical tests on the molecules over the next twelve months to validate the technology and determine suitability for commercialisation.

This preclinical evaluation will investigate the action of the molecules against a range of cancer types. Research conducted at Inaphaea BioLabs and collaborative partners will progress lead optimisation of the lead series molecules and ascertain activity, utilising patient derived cells from the recently acquired Imagen biobank; as well as assessing safety profiles of lead candidates nominated from within the series.

The cost of the work will be borne by ValiRx and will be capped at £100,000 over the twelve month period. At the conclusion of the evaluation period the Company has an option to license the technology on pre-agreed terms.

Dr Suzy Dilly, CEO of ValiRx commented "It is hugely exciting to have another evaluation agreement commencing, particularly one such as this which has a high pedigree of medicinal chemistry behind it to build the lead series of molecules for us to continue its optimisation. I'm looking forward to working closely with the team at StingRay to continue the project."

Jeff Roix, CEO of Stingray Bio says, "We look forward to further progress in our evaluation agreement with ValiRx. With great innovation provided by its Inaphaea team and novel Imagen assets, we believe ValiRx's efforts can help realise the commercial potential of StingRay's founding contributions in new cancer therapeutics."

StingRay Bio is a UK biotech incorporated in 2021 to develop novel cancer therapeutics. Founded in collaboration with Professor John Spencer and Professor Georgios Giamas at the University of Sussex, StingRay Bio has created an intellectual property estate of highly specific kinase inhibitors for cancer therapy. With indications for treating breast and other cancers that are common in women, Stingray Bio continues its mission to deliver impactful, differentiated therapies to cancer patients with high unmet needs.