Update on proposed sub-license of VAL401

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 exclusive Option Agreement announced on 5 December 2023 between ValiSeek Limited ("ValiSeek") and Ambrose Healthcare Limited ("Ambrose Healthcare"), the Company has received notification from Ambrose Healthcare to exercise a six month extension to the option period granted to it under the original agreement (the "Extension").

Under the Extension, Ambrose Healthcare has a further 6-month period of exclusivity under which it may exercise the option to execute a global, exclusive license of Valiseek's VAL401 asset under pre-agreed terms.

All other terms remain unchanged with Ambrose Healthcare commiting to completing development and commercialisation of VAL401 at Ambrose's cost.

VAL401 is in development for Pancreatic ductal adenocarcinoma.

Mark Eccleston, CEO of ValiRx commented "This 6 month extension was available to Ambrose Healthcare under the terms of the initial agreement and has been exercised to give them further time to complete their funding process."