Result of GM, Issue of Equity

2 February 2023

ValiRx PLC ("ValiRx" or the "Company")

Result of GM, Issue of Equity

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health announces that at its General Meeting ("GM") held earlier today, resolutions 1 - 3 were duly passed and resolution 4 was withdrawn. Details of the votes received in respect of resolutions 1 - 3 will be available shortly on the Company's website.

Issue of Equity

Further to the announcement made on 17 January 2023, 3,054,545 new ordinary shares have been issued, conditional upon Second Admission, pursuant to the Broker Offer and following shareholder approval at the GM.

The Company has therefore allotted a total of 12,145,454 new ordinary shares in connection with the Fundraising, raising £1.3 million in aggregate (before expenses).

Warrants

In aggregate, 3,036,363 Fundraise Warrants have been issued, conditional upon Second Admission, in connection with the Fundraising. The Fundraise Warrants will be exercisable at a price of 14 pence per share. The Fundraise Warrants are exercisable at any time until the third anniversary of Second Admission.

In connection with the Fundraising, TPI have been issued, conditional upon Second Admission, 709,091 Adviser Warrants. The Adviser Warrants will be exercisable at a price of 11 pence per share and are exercisable at any time until the third anniversary of Second Admission.

Admission

Application has been made to the London Stock Exchange plc for 3,054,545 new ordinary shares to be admitted to trading on AIM ("Second Admission"). It is expected that Second Admission of the Broker Offer Shares will become effective and dealings will commence at 08.00 a.m. on 6 February 2023. The Broker Offer Shares will rank pari passu with the Existing Shares.

Total voting rights

For the purpose of the Disclosure Guidance and Transparency Rules, following Second Admission the enlarged issued share capital of the Company will comprise 102,319,610 ordinary shares of 0.1 pence each. The Company does not hold any shares in the treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Company's announcement of 13 January 2023.

ValiRx Chairman, Kevin Cox commented: "We would like to thank shareholders for showing their support of our strategy to develop the tCRO through the approval of resolutions 1 to 3. We look forward to updating the market on progress in the near future."

The Directors of the Company take responsibility for this announcement.

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 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

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Notes for Editors

About ValiRx

ValiRx accelerates the development of treatments in oncology and women's health to improve patient lives. We provide the scientific, financial and commercial framework towards enabling rapid translation of innovative science into clinical development.

With our extensive and proven experience in research and drug development, we select and incubate promising novel drug candidates and guide them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

Integrating science and business

We connect diverse disciplines across scientific, technical and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. We work closely with our selected collaborators and leverage the combined expertise required for science to advance.

Lead candidates from our portfolio are out-licensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation. https://www.valirx.com/

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