Conclusion of Evaluation Project

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, provides the following update at the conclusion of the Evaluation project from the University of Barcelona announced on 7 June 2023.

On entering the broader collaboration agreement with Barcelona University in June 2023, the Company tested drug candidates from the series "KRAS2" in a barrage of in silico and in vitro tests. After expanding the series of molecules through in silico study, a selection of candidates were synthesised and tested for anti-cancer activity as a monotherapy and in combination with standard chemotherapy agents within the laboratory at Inaphaea BioLabs Limited.

Although initial results show promise, the development programme is at an early stage, and the Company has decided to return the project to the university researchers for further development, with no further financial commitment from the Company. The parties have agreed to terminate the current collaboration agreement and revert responsibility for maintaining the intellectual property to Barcelona University.

Mark Eccleston, CEO of ValiRx commented "Working alongside the University of Barcelona team on this project has been an engaging experience, and although we are not in a position to progress with this lead series of molecules at this stage, we look forward to retaining close contact with the team at Barcelona to hear further updates on these and other projects which could lead to future agreements."