VALIRX PLC LS-,001

ValiRx has signed a nine-month evaluation and material transfer agreement with McGill University and Canadian non-profit IRICoR, under which its subsidiary Inaphaea Biolabs will study a second-generation, orally available RNA helicase inhibitor. All results generated during the evaluation will go to ValiRx; IRICoR intends to establish a Canadian subsidiary to commercialize the asset, and ValiRx has the option to license the results in return for a contractually agreed equity stake. ValiRx and other investors may provide the new company up to £2m in start-up funding in tranches; if ValiRx declines to license, the rights would revert, but ValiRx would be entitled to a payout equal to 1.5 times its investment (max. £150,000). The structure allows project-specific dilution to maximize funding effect. » More on de.investing.com

ValiRx announces a fundraising of £902,000 through the issue of 368,372,400 new ordinary shares at 0.25 pence each, representing 49.60% of the enlarged share capital. The measure comprises a placing of 296,000,000 shares (£740,000), a retail offer of 60,722,400 shares (£152,000), a subscription of 4,000,000 shares (£10,000) and 7,650,000 shares issued as fees. In addition, 368,372,400 Fundraising Warrants and 16,036,120 Broker Warrants will be issued; the first tranche of 112,304,600 shares is to be admitted to AIM around 6 November, with the remaining admission subject to shareholder approval at the AGM on 20 November (admission planned for 21 November). » More on de.investing.com

ValiRx is offering retail investors up to 120 million new ordinary shares via the Winterflood Retail Access Platform at a price of 0.25 pence per share, aiming to raise up to £300,000. A warrant will be issued for each subscribed share, entitling the holder to buy an additional ordinary share at 0.50 pence within three years. The offer follows a separate conditional placing of £750,000, is subject to shareholder approval around 20 November and admission to AIM expected around 21 November, has a minimum subscription of £100 and closes on 3 November. » More on de.investing.com

ValiRx has announced that its subsidiary Inaphaea BioLabs has received a research grant from the Open University to develop advanced, image-based analyses of patient-derived cell models. The collaboration aims to develop algorithms for assessing the response of tumor spheroids to drugs and to promote the use of 3D cell cultures as an alternative to animal testing. The project supports ValiRx's strategy to expand its expertise in innovative cell models and testing methods. » More on de.investing.com

ValiRx has entered into a new twelve-month collaboration with Stingray Bio to further develop lead compound candidates for cancer therapies. The partnership includes in-silico optimization and in-vitro testing, with ValiRx covering the costs and receiving an option to license the candidates upon successful completion of the evaluation. The results of the evaluation will be jointly owned by both companies, and ValiRx may acquire a majority stake in the technology if the IND studies are successfully completed. » More on de.investing.com