ValiRx acquires assets from Imagen

UK-based ValiRx (AIM: VAL), a life science company focusing on early-stage cancer therapeutics and women's health, has acquired the scientific assets of Imagen Therapeutics from its appointed liquidators.

Imagen was a pharma services company offering a patient-derived screening platform suitable for large global clients. Total consideration paid for its assets was a single cash payment of £170,000 ($215,000) to the liquidators.

"This is an important step towards our ambition to make our assays more closely aligned to a complex human system"According to ValiRx, the deal represents a significant discount to the original commercial value of the assets acquired, which include an extensive biobank of patient-derived cells, a comprehensive range of laboratory equipment required for analysis and application of the cells. Among these items are some that are in the financial plan for Inaphaea BioLabs, a firm that span out of ValiRx this year as a wholly-owned subsidiary.