25 May 2012

ValiRx wins European patent

02/02/2012 Ben Jaglom

AIM-quoted pharma minnow ValiRx (VAL) has won approval from the European patent office for its NAV3 cancer screening test.

The London-headquartered concern saw its shares gain 25.4 per cent this morning following news that it had won approval for NAV3 - one of the assets its subsidiary ValiFinnn acquired earlier in the year - noting the company is 'now in a position to begin production of it, alongside marketing'.

ValiRx remarks that the test itself enables the detection of cancer cells at a stage where changes to the chromosome have just taken place and the development of tumors is about to begin. It adds that in cancer diagnostics one of the 'most challenging' tasks is the detection of cells as early as possible.

Last rated by Growth Company Investor as a hold at 0.54p when we remarked that the company was a 'highly volatile concern' the shares currently trade at 0.69p. Shares in ValiRx have traded between a range of 0.29p to 1.68p and remain suitable fare for the bold. Hold.

Tags: AIM quoted business, Pharma minnow, Technology for cancer

Sector: Pharmaceuticals & Biotechnology

Companies: Valirx

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