ValiRX awarded regulatory approval to fast track prostate cancer study

Biopharmaceutical company ValiRX was said to be entering a "new and exciting phase" after it was granted approval to expand and accelerate its early-stage cancer study.

ValiRX was given permission to substantially raise dosages of VAL201, a treatment aimed at fighting metastatic prostate cancer and other solid tumours, by the Medicines and Healthcare Regulator Agency and Research Ethics Committee on Monday in order to ascertain the correct therapeutic levels of treatment to hinder the disease's spread throughout the body.

The firm noted that the escalation in dosage between Phase I and II would also help it to figure out which stage of the cancer's progression the drug would be most effective at countering, helping it to plan for "larger, outcome-oriented clinical trials."

Dr Satu Vainikka, the group's chief executive, said the approval was a "substantial breakthrough".

"Since VAL201 has demonstrated disease stabilisation, with a lower dose than was predicted, we anticipate that by increasing the dosage we will be able to see further anti-cancer activity," she said.

"This accelerated study will speed-up the human development of the compound and by doing so, it will save both time and money. Most importantly, this potential treatment will more speedily meet the needs of those patients currently under-served by existing therapies," she added.

As of 1120 GMT, shares had risen 19.18% to 6.55p.