Valirx wins Canadian patent for 'gene-silencing' technology

ValiRx, the AIM listed life sciences firm, saw its share price surge on news that its 'gene-silencing' technology has received patent approval in Canada.

It already has patents for the US, Europe and Australia.

ValiRx is developing treatments which "silence" so called rebellious genes that can cause cancer and various neurological problems.

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The firm also announced today that it has extended its agreement with Imperial College London for cancer therapeutic work.

Production of ValiRx's main "VAL101" compound is "going to plan and has been optimised and simplified." The company argues this will reduce costs and add future value.

Dr. Satu Vainikka, ValiRx's Chief Executive, said of the patent grant: "The filing of this latest patent extends our global geographic patent coverage and I believe it represents a value marker for the company, as we further progress the GeneICE pre-clinical programme."

At 9:13am shares in the company were at 0.502p, a rise of 14.2% on the day. This year ValiRx has seen its value rise 99%.

BS