ValiRx shares fall as ends collaboration with Imperial College London
ValiRx PLC on Monday said it has decided to return the Dual Kinase project to Imperial College London for further development, and will have no further financial commitment to the programme.
Shares in ValiRx were down 8.0% at 0.57 pence in London on Monday afternoon.
The Essex-based life sciences company entered into the collaboration agreement with Imperial in March 2024, following which ValiRx has synthesised, tested and profiled drug candidates from the Dual Kinase series in comparison to ‘gold standard therapeutics’.
However, though ‘initial results showed promise’, ValiRx said the development programme is at an early stage, and it has decided to terminate the current collaboration agreement.
Responsibility for maintaining the intellectual property has been reverted to Imperial.
‘Working alongside the Imperial College London team on this project has been an engaging experience, and although we are not in a position to progress with this lead series of molecules at this stage, we look forward to retaining close contact with the team at Imperial to hear further updates on these and other projects which could lead to future agreements,’ said Chief Executive Officer Mark Eccleston.
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