ValiRx to license VAL401 to Ambrose Healthcare
Shares of UK-based cancer and women’s health drug developer ValiRx (AIM: VAL) were up 16.6% at 11.51 pence mid-afternoon, following the announcement that its joint venture company ValiSeek has entered a deal to license VAL401 to Ambrose Healthcare, a private UK specialist pharmaceutical company.
Ambrose is seeking to develop new treatments for rare diseases and patients managed in hospitals and specialist care. The company, incorporated in 2022, has an internationally experienced leadership team with deep knowledge of the pharmaceutical industry.
Under the option agreement, Ambrose has a 12-month period of exclusivity under which it may exercise the option to execute a global, exclusive license of Valiseek's VAL401 asset under pre-agreed terms.
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