15th May 2014 13:31
LONDON (Alliance News) - ValiRx PLC said Thursday that it had seen promising progress on the development of its cancer treatment VAL401 towards Phase II trials since the formation of its joint venture with Tangent Reprofiling Ltd, ValiSeek.
The joint venture was formed a month ago to progress the treatment towards Phase II trials.
Non-regulatory toxicology studies showed that the treatment was well tolerated in its current dosing schedule; which it said allows it to plan future regulatory toxicology and pharmacokinetic studies.
ValiRx said that further in vitro study results have encouraged it to investigate specific subsets of patients that are suitable to be treated with the drug.
In addition, new results have shown potential for the treatment of pancreatic cancer, and earlier studies by Tangent also suggested uses in prostate and breast cancer, which ValiRX said showed a broad spectrum of potential use.
"We have seen a positive start to ValiSeek's work, with our initial plans of quickly identifying further opportunities, while simultaneously confirming that VAL401 presents no unexpected toxicology, coming to fruition," said Chief Executive of ValiSeek Suzanne Dilly in a statement.
Shares in ValiRX were trading down 5.4% at 0.265 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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