Update on proposed sub-license of VAL201
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London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health announces that, further to the 2024 interim results announced on 27 September 2024, the Company has signed an amendment to the Letter of Intent ("LOI") with TheoremRx Inc ("TheoremRx"). The exclusivity provided has been extended for a limited time period until 31 December 2024 in exchange for a 0.5% equity interest in TheoremRx following the potential reversal into a US listed shell.
The LOI and proposed Licence Agreement (as referred to in the announcement of 2 November 2021) remain non-binding and there is no guarantee that this Licence Agreement will be executed or that it will generate material revenues within the expected timeframe or at all.
Mark Eccleston, CEO of ValiRx commented "This time limited extension has been granted to allow TheoremRx to continue the progression of their financing, which on completion will enable execution of the sub-license of VAL201 to TheoremRx. We remain supportive of the TheoremRx team and continue to closely monitor their progress."
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