Update on proposed sub-license of VAL201
Exclusivity period for VAL201 sub-license to TheoremRx extended to 31 May 2025 pending their M&A transaction.
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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 amendment to the Letter of Intent ("LOI") with TheoremRx Inc ("TheoremRx") announced on 30 October 2024 granting an extension of exclusivity until 31 December 2024, the Company has signed a further amendment to the Letter of Intent ("LOI") with TheoremRx . The exclusivity provided has been extended for a final time period until 31 May 2025.
This final extension has been provided following developments announced by TheoremRx regarding a transaction with a NASDAQ listed company which the board at ValiRx believe may lead to a positive conclusion for the proposed sub-license of VAL201. 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 final, time limited, extension has been granted to allow TheoremRx to complete their M&A transaction with a NASDAQ listed company, which is required to enable execution of the sub-license of VAL201 to TheoremRx. Further details on the transaction will be made public in due course and we remain supportive of the TheoremRx team and continue to closely monitor their progress."
| Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub | https://valirx.com/link/lejvQe |
| ValiRx plc Dr Mark Eccleston, CEO | Tel: +44 115 784 0026 www.valirx.com Mark.Eccleston@valirx.com |
| Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray / Ludovico Lazzaretti | Tel: +44 (0) 20 7213 0880 |
| Shard Capital Partners LLP (Sole Broker) Damon Heath | Tel: +44 (0) 20 7186 9000 |
| V Formation (Public Relations) Lucy Wharton - Senior PR Executive Sue Carr - Director | +44 (0) 115 787 0206 www.vformation.biz lucy@vformation.biz sue@vformation.biz |
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