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LONDON (Alliance News) - ValiRx PLC Monday said its request to run clinical trials for its VAL201 cancer treatment has been accepted by the UK's licensing authority.
Shares in the group surged on the back of the news in early trade, up 11.2% to 0.378 pence and sitting among the top five risers on the AIM All-Share index.
In a statement, ValiRx said it had won authorisation to begin a Phase 1/2 dose escalation study to "assess the safety and tolerability" of the drug in patients suffering from advanced or metastatic prostate cancer and other advanced solid tumours.
Satu Vainikka, the Chief Executive of ValiRx, said he was "thrilled that the VAL201 clinical development has now entered the human patient phase" and said he is "looking forward to receiving information about the compound's performance and behaviour in this critical stage of development."
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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