ValiRx (LON:VAL) said today it has made progress in all areas of the business after completing a two year international grant programme for its gene-silencing technology.
ValiRx has been the leader of the Eurostar Programme, an international consortium developing GeneICE and its lead anti-cancer treatment, VAL101.
Meanwhile, the company’s acquisition of Oulu, from Pharmatest, has provided the company with a revenue stream through the provision of contract services with its biomarker subsidiary, ValiFinn.
The company is pursuing a number of opportunities with various organisations, it said, that have approached the biotech after observing its biomarker activity and expertise.
Chief executive Dr Satu Vainikka said: “It is very encouraging to see GeneICE, VAL101 and our biomarker development programme progressing so well.
“GeneICE is a platform technology, and as such, it has the potential to produce a whole pipeline of compounds for the treatment of a wide range of neurological and inflammatory diseases."
GeneICE, effectively shuts down faulty genes that cause conditions such as cancer and neurological problems.
The Eurostar Programme is a €1.2 million grant awarded to an international consortium over two years.
ValiRx is now awaiting the submission of final scientific results so the final payments of the grant can be released.
VAL101 has shown efficacy in killing cancer cells and ValiRx has extended its agreement with Imperial College, which it originally licensed the technology from, to develop the work further.
ValiRx added results from preclinical trials were as expected and shut down particular “rebellious” genes, so reversing tumour growth.
During the studies the manufacturing of the GeneICE compounds has been simplified and made cheaper. In addition production of the lead compounds is about to be upgraded, said ValiRx.
