Issue of Equity

ValiRx Plc

("ValiRx" or the "Company")

Issue of Equity

ValiRx Plc (AIM: VAL), a clinical stage biotechnology company, is pleased to announce it has, conditional on admission, raised £1.0 million of gross proceeds through the issue of 23,529,412 new ordinary shares at a price of 4.25 pence per share ("Placing Shares"). The funds will be used for advancing the clinical trial of VAL201 and for the pre-clinical progress of other programmes. The funds were raised through the Company's broker, Beaufort Securities Limited ("Beaufort").

The Company has agreed to grant placees a total of 11,764,706 warrants to subscribe for shares at an exercise price of 8 pence at a ratio of one warrant per two Placing Shares issued. The warrants may be exercised at any time in the period expiring on the first anniversary of the date of Admission of the Placing Shares.

The Company has agreed to grant Beaufort a warrant to subscribe for 1,882,353 shares at an exercise price of 4.25 pence per share. The warrants may be exercised at any time in the period expiring on the third anniversary of the date of Admission of the Placing Shares.

The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company. Application for the 23,529,412 ordinary shares will be made to the London Stock Exchange and trading in these shares is expected to commence on or around 2 January 2018.

Following Admission, the Company's enlarged issued share capital will comprise 373,839,860 ordinary shares of 0.1p each. The Company does not hold any shares in treasury. This figure of 373,839,860 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

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Notes for Editors

About ValiRx Plc

ValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in "precision" medicine and science, namely to engineer a breakthrough into human health and well-being, through the early detection of cancer and its therapeutic intervention.

The Company's business model focuses on out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the company reduces risk considerably while increasing the potential for realising value. The group is already in licensing discussions with major players in the oncology field.

ValiRx's two classes of drugs in development, which each have the potential for meeting hitherto unmet medical needs by existing methods, have worldwide patent filings and agreed commercial rights. They originate or derive from Word class institutions, such as Cancer Research UK and Imperial College.

Until recently, cancer treatments relied on non-specific agents, such as chemotherapy. With the development of target-based agents, primed to attack cancer cells only, less toxic and more effective treatments are now possible. New drugs in this group-such as those in ValiRx's pipeline-promise to greatly improve outcomes for cancer patients.

The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.