Shares digital

Having received both a US and European patent for its gene-silencing technology, GeneICE, last year, cancer therapeutics firm ValiRx (VAL:AIM) has gone one step further and has been granted patent approval by the Australian Patent Office.

ValiRx holds the rights to GeneICE via its Cronos Therapeutics subsidiary, which has an exclusive worldwide licence agreement with Imperial College Innovations.

GeneICE compounds have the potential to freeze the development and growth of cancerous cells and also to be used in inflammatory disease and inherited genetic conditions.

Cancer Research UK, which is partnered with Cronos, recently completed Phase one of its pre-clinical trials on GeneICE, with results successfully showing that the technology triggered cell death in ovarian, pancreatic and prostate cancer cells. It could also help other cancers.

‘This latest patent further underpins the robustness of our gene-silencing technology. Australia has one of the highest incidence rates for certain cancers in the world,’ says chief executive, Dr Satu Vainikka. The shares jumped 21% to 11.5p following the news.

Shares says: Encouraging news, which bodes well for patient investors.