Contract Award

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, provides the following contract award update from its wholly owned subsidiary Inaphaea BioLabs Limited ("Inaphaea").

Inaphaea is delighted to confirm the execution of a further contract for the provision of cell-based assays to UK biotech company, Amply Discovery Limited ("Amply"). The multiphase contract, potentially worth over £100,000 over a 8 month period, will evaluate various formulations of Amply's developmental siRNA targets in Inaphaea's Triple Negative Breast Cancer (TNBC) Patient Derived Cells (PDCs) as stand-alone agents and in combination with standard of care drugs. The deal includes an upfront payment to Inaphaea of approximately £31,000 with an additional approximately £21,000 payment on completion of the first phase after 4 months and £10,500 on completion of the remaining in-vitro phase after a further 6 weeks. Successful candidates have the option to be evaluated in-vivo using selected PDCs through one of Inaphaea's partners.

Andrew Carnegie, Head of Strategic Commercial Development at Inaphaea, commented "It is exciting to have secured this contract, which aligns our services with one of our strategic partners, and defines a good roadmap for future clients."

Mark Eccleston, CEO of ValiRx commented "This is an important contract for Inaphaea as it validates our partnered approach to offering full-service capabilities to our clients."

Dermot Tierney, COO of Amply commented "We are happy to be working with Inaphaea on this critical phase of Amply's development pathway. It was important for us to find a CRO partner who could manage the whole process with agreed milestones."