ValiRx rockets on 'increased confidence' in lung cancer trials
Clinical stage biotechnology company ValiRx has completed data collection from a recent Phase II trial on its lung cancer treatment and is now taking steps towards completing a clinical study report for submission.
Since ValiRx released the results of its VAL401 trial on 16 January, the firm switched its development focus on commercial areas, consulting an advisory board of UK Key Opinion Leaders, addressing the significance of the results obtained and the positioning of VAL401 in the UK and global market.
ValiRx has continued advanced conversations with a number of prospective partners with the aim of achieving a partnership, to progress the project appropriately towards eventual patient use and has been approved for a second patent in New Zealand for VAL401's use in the treatment of pancreatic adenocarcinoma.
Dr Suzy Dilly, chief executive of ValiRx's joint venture with Tangent Reprofiling, ValiSeek, said, "The external validation from both the advisory board and wider industry, has provided increased confidence that VAL401, the product, has a valued and needed place in the market. These developments are a valuable addition to our licensing package, clarifying the final stages of clinical testing towards commercial use."
As of 0900 BST, ValiRx shares had rocketed 26.67% to 2.85p.