Thu 31 Jan 2019 07:37 by ukcitymedia.co.uk about : operational news - 0 Comments - 713 words
ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, announces that the Patent Offices of the Russian Federation and China have both granted a patent allowance for ValiRx's pre-clinical therapeutic compound, VAL301, subject to payment of the relevant fees.
The compound has been developed for the treatment of hormone-induced, non-oncological abnormal growth and cell proliferation conditions. These include indications for endometriosis and benign prostatic hyperplasia, for both of which there is substantial global unmet medical need.
These latest patent allowances provide protection for ValiRx for these indications in two of the world's most populous nations and they follow on from ValiRx's earlier receipt last year of a US Patent Grant (announced 17 July 2018).
Dr Satu Vainikka, CEO of ValiRx plc, commented: "The patent portfolio and trial results are the main assets and value drivers for any small biotechnology company, such as ValiRx and I am pleased that our global patent protection is now so strong."
"These patent grant allowances are a further endorsement for VAL301. The pre-clinical and clinical development of the compound will benefit considerably from the earlier strong progress seen in the Phase I/II clinical trial of our prostate cancer therapeutic, VAL201, from which VAL301 is derived".
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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