ValiRx inks evaluation agreement with StingRay Bio

UK oncology-focussed biotech ValiRx (AIM: VAL) edged up 2.5% to 12.30 pence this morning, after it announced it has entered into an agreement with StingRay Bio to investigate a lead series of drug candidates for use in oncology.

The lead series of molecules has been developed by StingRay using a target-based drug design approach, to create novel candidate drugs for kinases with well-validated links to cancer. ValiRx says it will carry out a defined series of pre-clinical tests on the molecules over the next 12 months to validate the technology and determine suitability for commercialization.

This pre-clinical evaluation will investigate the action of the molecules against a range of cancer types. Research conducted at Inaphaea BioLabs and collaborative partners will progress lead optimisation of the lead series molecules and ascertain activity, utilizing patient derived cells from the recently acquired Imagen biobank; as well as assessing safety profiles of lead candidates nominated from within the series.