ValiRx pulls out of KTH222 evaluation deal

ValiRx (AIM: VAL), a UK oncology-focussed biotech, today announced that further to the notification made on November 10, 2020 it has concluded its agreement in relation to the evaluation of the KTH222 peptide as a drug candidate for treating patients with ovarian cancer.

Last November, ValiRx – whose shares gained 3.7% to 19.51 pence by late morning - entered into an agreement with ‘#USA-based Kalos Therapeutics, whereby ValiRx would perform a range of pre-clinical evaluation experiments to determine whether to enter a full licensing agreement for the therapeutic candidate.

At the conclusion of the estimated six-month evaluation schedule, ValiRx has elected to terminate the agreement and has returned all data generated to Kalos.