ValiRx PLC - Inaphaea Commercial update

ValiRx PLC

("ValiRx" or the "Company")

Inaphaea Commercial update

London, UK - ValiRx Plc (AIM: VAL), a life sciences company focusing on early-stage cancer therapeutics and women's health, is pleased to provide the following updates on its wholly owned subsidiary Inaphaea Limited ("Inaphaea").

Inaphaea is delighted to confirm the completion of the second phase of the Amply Discovery Limited's ("Amply") service contract, announced on 19 November 2024 and receipt of a balancing payment of approximately £31,000.

Inaphaea is also pleased to announce that, following the award of a Knowledge Transfer Voucher with The Open University announced on 7 August 2025, the academic partner has been awarded a £250,000 UK Research and Innovation ("UKRI") grant to further develop its in-silico spheroid modelling platform. Inaphaea, as the commercial partner, will supply its Patient Derived Cells ("PDC") for production of spheroids and share data generated on the PDCs including drug response profiling. Inaphaea will also evaluate the in-silico, predictive models as part of its commitment to New Advanced Methodologies ("NAMs") for drug development.

Inaphaea is receiving weekly updates and access to PDC samples under its agreement with Nottingham Health Trust, announced on 18 September 2025, whilst the first four ovarian PDCs from the Biobank have been successfully digitised by its partner TwinEdge BioScience ("TwinEdge"). The digital avatars created from the four PDCs exceeded all quality controls and TwinEdge will now move to phase 2 of the agreement which involves creating digital avatars of the remaining 63 ovarian PDC models with available RNA-sequence data.

ValiRx is also pleased to announce it has signed an agreement with Apis Assay Technologies Ltd ("APIS") to evaluate APIS's HER2 targeting Clickmer - based on APIS's novel modified aptamer technology. Initially for use on characterising the expression of HER2 on Inaphaea's PDCs, the technology will also be applied to CytoLytix's oncolytic peptide platform in order to selectively target HER2 positive cancer cells, including breast and ovarian cancer.

In addition to the commercial update, Dr Amelia Hatfield, recently promoted to Lead Scientist - Translational Science and Academic Liaison at Inaphaea, has been granted Visiting Lecturer status at Kings College London which will facilitate the ongoing collaboration with CytoLytix. Dylon Jones, Inaphaea's technician, has commenced a Level 6 Degree Apprenticeship in Applied Biosciences (BSc Hons) through Middlesex University and delivered via Tiro Training Ltd. ("Tiro"). Cathy Tralau-Stewart, Executive Director of the Milner Institute and Non-Executive Director of ValiRx has been appointed as a Research Professor (Therapeutics) at the University of Cambridge.

Mark Eccleston, CEO of ValiRx commented "We are very pleased to have successfully completed the first three phases of the contract with Amply and to have recognised the revenue as we continue to build the sales pipeline."

"Our partnership with The Open University is going from strength to strength with the latest pump priming award being rapidly followed by a significant grant award for our partner which will benefit Inaphaea through shared data generation and publications using our PDCs. We strongly believe that more realistic disease models provide better results and have been developing our biobank to offer a range of services based on 2D and 3D culture models under normoxia and hypoxia. These low passage, non-immortalised models, supported by extensive RNA-sequence data, are closer to, and therefore more representative of, the patient which should ultimately translate to improved understanding of the candidate drugs and reduced failures in the clinic."

 "We're excited by the potential for these models to be digitised through TwinEdge Bioscience and this collaboration has the potential to transform the way we access indicative clinical performance rapidly and economically alongside biomarker identification for patient selection for both our in house and client programs. The relationship with TwinEdge continues to grow as we expand the range of PDCs, adding to their selection of over 10,000 patient avatars. The data generated from these models is helping build more sophisticated patient avatars as the collaboration builds momentum."

"We are also really pleased to be working with APIS and to have access to their proprietary aptamer-based Clickmer technology. This is another win-win collaboration where we can help validate their HER2 targeting Clickmer whilst generating data on our PDCs. Going forward we will explore a commercial partnership to develop targeted CLX-001 derivatives."

"I'd also like to offer my congratulations to Amelia and Cathy for their recent academic appointments and Dylan for starting his degree apprenticeship. It is an important part of the upskilling of our technical team."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company take responsibility for this announcement.

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Notes for Editors

About ValiRx

ValiRx is a life science company focused on early-stage cancer therapeutics and women's health, accelerating the translation of innovative science into impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for enabling rapid translation of innovative science into clinical development.

Using its extensive and proven experience in research and drug development, the team at ValiRx selects and incubates promising novel drug candidates and guides them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. The team works closely with carefully selected collaborators and leverages the combined expertise required for science to advance.

Lead candidates from ValiRx's portfolio are outlicensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation.

ValiRx listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

For further information, visit: www.valirx.com

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements.  Persons receiving and reading this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.