Inaphaea Evaluation and Commercial Use Agreement

Inaphaea is pleased to confirm the execution of an Evaluation and Commercial Use agreement ("Agreement") with Swedish contract research organisation BioReperia AB ("BioReperia") to provide Inaphaea's Patient Derived Cells ("PDC") for evaluation and commercial use in BioReperia's unique in-vivo ZTX® platform. The contract initially focusses on establishment of up to four glioblastoma zebrafish xenografts which will then be offered for commercial services by BioReperia. Additional PDCs across Inaphaea's range of 66 cancer types can be added at any time.

Inaphaea will be entitled to an upfront fee and a percentage of service royalties on commercialisation of the models. Both companies have also agreed to co-market their respective services. The Agreement is for a period of 12 months initially and may be extended in writing by mutual agreement.

Andrew Carnegie, Head of Strategic Commercial Development at Inaphaea, commented "It's great to be working with an innovative partner like BioReperia to extend the applications of the PDCs from our biobank. Inaphaea can now offer its clients a seamless route from in-vitro into in-vivo drug development."

Mark Eccleston, CEO of ValiRx commented "This deal represents a great step forward in commercialising Inaphaea's primary asset - its Patient Derived Cell bank. Productising Inaphaea's cell bank is a key strategic objective."

Anna Erkstam, CEO of Bioreperia, commented "We are very excited to partner with Inaphaea. As an in-vivo service provider, it is very important that the tumour models that we use are recapitulating the patient specific environment to be able to evaluate new cancer treatments in relevant models. The collaboration enables us to expand our clinical model repertoire for our customers and merge the unique profile of Inaphaea´s models with our cutting edge in-vivo model. This creates a powerful tool for drug developers to evaluate their new compounds in a translational and biologically relevant platform."