Intended Grant of Patent
11 December 2006
ValiRx Reports Intended Grant of GeneICE Patent by the European Patent Office
ValiRx plc (AIM: VAL) ("ValiRx"), the cancer therapeutics company, has been
informed by the European Patent Office that it is to receive the granting of a
patent for its ground-breaking GeneICE cancer technology. ValiRx's subsidiary
company, Cronos Therapeutics Limited, has exclusive rights to this technology
through its existing license agreement with Imperial College Innovations.
GeneICE compounds have the potential to freeze the development and growth of
cancerous cells and also have potential major applications in inflammatory
disease and inherited genetic conditions. Cronos Therapeutics Limited's partner,
Cancer Research UK, one of Europe's most prestigious research institutes, is
currently undertaking pre-clinical trials on GeneICE at its own cost.
Dr Satu Vainikka, CEO of ValiRx commented:
"We have already shown that our GeneICE compounds targeted at genes involved in
cancer are extremely effective in cellular systems, where a single
administration has been shown to switch off specific genes."
It is believed that GeneICE - already tested on six cancer cells - could be
relevant to up to 80% of breast cancers, 90% of prostate cancers and 80% of
Anthony Moore, Chairman, said:
"We have moved on to the next step of our product development programme with
Cancer Research UK. This patent protects our disease-modifying approach to
treating cancer and adds value to ValiRx's shareholders."
ValiRx's subsidiary company, Cronos Therapeutics Limited, holds an extensive
portfolio of pending and granted patents in the areas of gene regulation and
epigenetic diagnostic technologies with further applications and grants
anticipated over the next two years.
- E N DS -
Information on ValiRx plc
ValiRx is a biopharmaceutical development company that is building a portfolio
of complementary cancer-related therapeutic and diagnostic technologies. It
currently holds stakes in Cronos Therapeutics Limited and Morphogenesis Inc;
Cronos Therapeutics Limited holds licenses to two innovative and
potentially market changing technologies, GeneICE and HyperGenomics;
Morphogenesis Inc. is developing a portfolio of cell therapy products for
the treatment of chronic disorders. Its most advanced product, being
ImmuneFxTM for which it recently received a patent from the US patent
ValiRx is headquartered in London, England.
ValiRx plc WH Ireland Limited GTH Communications
Dr Satu Vainikka David Youngman Toby Hall / Jade Mamarbachi
+44 (0) 207 408 5400 +44 (0) 161 832 2174 +44 (0) 20 7153 8035
This information is provided by RNS
The company news service from the London Stock Exchange