Conclusion of Evaluation with Stingray
ValiRx PLC has concluded its evaluation agreement with Stingray Bio Limited, electing not to exercise its option to license the technology due to it not meeting strict criteria, despite some interesting in-silico results. Jointly owned results will return to Stingray, but ValiRx is entitled to a cash payment of 1.5 times its total investment, estimated at approximately £50,000, if Stingray secures alternative investment within 12 months. The company stated this decision allows them to focus resources on later-stage assets and that this hybrid evaluation approach retains some upside potential if the technology is commercialised.
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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 Agreement with Stingray Bio Limited ("Stingray") announced on 5 August 2025.
Under the terms of the Evaluation Agreement with Stingray, ValiRx carried out in-silico lead optimisation of potency and target selectivity. Despite some interesting in-silico results, it was concluded the technology had not met the strict criteria for the Company to exercise its option to license the technology on pre-agreed terms.
Under the terms of the Evaluation Agreement, the jointly owned results will return to Stingray and, if Stingray secures alternative investment within 12 months of the Evaluation Agreement's completion, ValiRx will be entitled to a cash payment of 1.5x its total investment (estimated at approximately £50,000, including outsourced work and internal resources).
Mark Eccleston, CEO of ValiRx commented "We have completed this second evaluation phase of the Stingray assets ahead of schedule and well within budget. This phase focussed on in-silico lead optimisation following the initial evaluations of lead assets by Inaphaea and would require significant further lead optimisation and development to get to the candidate stage so we have elected not to proceed as we focus our resources on later stage assets.
This was the first of our new style, hybrid approach to evaluation and development programmes and so, whilst we are not progressing with the asset ourselves, the evaluation results will be assigned back to Stingray and we will retain some upside if it is commercialised in the next 12 months."
| Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub | https://valirx.com/link/egGpbe |
| 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) Jocelyn Braithwaite | +44 (0) 115 646 5491 www.vformation..co.uk jocelyn@vformation.co.uk |
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