ValiRx subsidiary makes first sale

18th Nov 2024 14:04

(Sharecast News) - ValiRx, a life science company focussed on early-stage cancer therapeutics and women's health, announced the first sale from its wholly-owned subsidiary Inaphaea BioLabs on Monday.

The AIM-traded firm said the shipment included patient-derived cells (PDCs), part of Inaphaea's new Assay Ready Reagents (ARR) product line.

It said the ARR range allowed customers to perform assays directly without requiring in-house cell cultivation, streamlining research workflows.

While the financial value of the initial order was said to not be material, the board said the sale represented a key milestone in validating Inaphaea's offering and providing a potential revenue stream for ValiRx.

"This first sale of our new product range is a major milestone for our commercialisation efforts," said chief executive officer Mark Eccleston.

At 1158 GMT, shares in ValiRx were up 23.13% at 1.69p.

Reporting by Josh White for Sharecast.com.

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