11th Dec 2006 07:00
ValiRx PLC11 December 2006 ValiRx Reports Intended Grant of GeneICE Patent by the European Patent Office ValiRx plc (AIM: VAL) ("ValiRx"), the cancer therapeutics company, has beeninformed by the European Patent Office that it is to receive the granting of apatent for its ground-breaking GeneICE cancer technology. ValiRx's subsidiarycompany, Cronos Therapeutics Limited, has exclusive rights to this technologythrough its existing license agreement with Imperial College Innovations. GeneICE compounds have the potential to freeze the development and growth ofcancerous cells and also have potential major applications in inflammatorydisease and inherited genetic conditions. Cronos Therapeutics Limited's partner,Cancer Research UK, one of Europe's most prestigious research institutes, iscurrently 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 incancer are extremely effective in cellular systems, where a singleadministration has been shown to switch off specific genes." It is believed that GeneICE - already tested on six cancer cells - could berelevant to up to 80% of breast cancers, 90% of prostate cancers and 80% ofleukaemias. Anthony Moore, Chairman, said: "We have moved on to the next step of our product development programme withCancer Research UK. This patent protects our disease-modifying approach totreating cancer and adds value to ValiRx's shareholders." ValiRx's subsidiary company, Cronos Therapeutics Limited, holds an extensiveportfolio of pending and granted patents in the areas of gene regulation andepigenetic diagnostic technologies with further applications and grantsanticipated over the next two years. - E N DS - Information on ValiRx plc ValiRx is a biopharmaceutical development company that is building a portfolioof complementary cancer-related therapeutic and diagnostic technologies. Itcurrently 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 office. ValiRx is headquartered in London, England. Contact Details: 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 ExchangeRelated Shares:
ValiRx