AIM listed drug developer ValiRx (LON:VAL) this morning updated on the progress of VAL 101, a potential cancer treatment being developed in collaboration with London’s Imperial College.
The pair are working on late pre-clinical studies of the drug candidate, which has shown signs of efficacy in a number of different cancers.
Today ValiRx said that its agreement with Imperial has now been extended and its researchers will “continue with further development of this cancer therapeutic work”.
Today’s update also revealed stability and toxicology studies are currently underway.
The production of the VAL101 compound is going to plan and has been optimised and simplified, which by extension makes the compound cheaper to produce, thereby adding future value, ValiRx added.
It also announced the extension of funding under the Eurostars scheme for up and coming technology companies.
It covers the development of GeneICE, a tool for silencing rebellious genes.
In that respect it is similar to the cutting-edge siRNA technologies being used to target cancers.
However GeneICE has the potential to be more specific, longer-acting and carries with it fewer side-effects.
GeneICE is a platform technology, which means it has the potential to spawn a whole series of treatments for neurological and inflammatory diseases, although ValiRx is assessing its potential in hard-to-treat cancers.
Separately, the company said it recently received patent approval in Canada for GeneICE.
ValiRx chief executive Dr Satu Vainikka said: “I am very pleased with the progress we are seeing regarding VAL101 and our GeneICE drug candidates and the invaluable support we are receiving both from Imperial College and from Eurostars.
“The filing of this latest patent extends our global geographic patent coverage and I believe it represents a value marker for the Company, as we further progress the GeneICE preclinical programme.”
