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Cancer-focused ValiRx inks licensing agreement with Bangladeshi group Mystic Pharmaceuticals

Mystic Pharmaceuticals will get access to ValiRx's patented technology, including pre-clinical products
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"We also benefit through the use of additional production facilities for newer products not yet in the clinical pipeline," said ValiRx

Cancer-focused biotech ValiRx Plc (LON:VAL) has inked what it hopes will be the first of many licensing agreements for its products.

The deal is with Bangladeshi group Mystic Pharmaceuticals Limited, which will get access to ValiRx's patented technology, including pre-clinical products,  to further develop them for the benefit of ValiRx for five years.

READ: ValiRx recruits three experienced industry figures to advisory board

If it leads to a successful marketing of a product, ValiRx will receive up to a 50% royalty.

"This is the first of what I hope will be a number of such licencing agreements for several of our products," said Dr Satu Vainikka, ValiRx chief executive.

"We at ValiRx are delighted to be working with an impressive Mystic team and collaborating with them on projects to our mutual advantage and a 50/50 split on revenues if the collaboration makes money. 

"We also benefit through the use of additional production facilities for newer products not yet in the clinical pipeline."

ValiRx shares eased around 3% to 2.04p.

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