Ambrose Healthcare Ltd is pleased to announce that it has exercised the previously granted option to license the novel oncology therapeutic VAL401 from ValiSeek Limited, a joint-venture subsidiary of ValiRx plc, under the terms of the Option Agreement announced on 5 December 2023.
Under the newly executed Intellectual Property Licence Agreement, Ambrose Healthcare will receive full global rights to develop and commercialise VAL401 for oncology and rare disease applications. In return, ValiRx (through ValiSeek) will receive 576,000 ordinary shares in Ambrose, alongside clinical and commercial milestone payments totalling up to £16 million, as well as future royalties.
Ambrose, a specialist UK pharmaceutical company incorporated in October 2022, remains committed to advancing VAL401 at its own cost, including all associated patent and development expenditures. The initial milestone payments—worth £6 million—may be deferred and settled either in cash or via new ordinary shares in Ambrose, at the company's discretion, subject to fundraising outcomes.
Toby Wilson Waterworth, CEO of Ambrose Healthcare, said:
“Ambrose is excited to formally enter into this licence and initiate the global development of VAL401. This strategic milestone reflects our unwavering dedication to pioneering effective treatments for rare diseases and oncology, with the specific aim of bringing VAL401 to patient populations in critical need. Having demonstrated encouraging clinical benefit in late‑stage non‑small cell lung cancer, we will now build upon this foundation, beginning with pancreatic cancer models in collaboration with ValiRx’s Inaphaea BioLabs, and drive forward with expanded clinical trials and regulatory processes to serve patients worldwide.”
About VAL401
VAL401 is a repurposed formulation of risperidone, reengineered into a lipid-based capsule designed to target cancer via inhibition of the HSD10 enzyme. In a Phase II study involving advanced non-small cell lung cancer patients, VAL401 demonstrated statistically significant improvements in overall survival and quality of life parameters.
About Ambrose Healthcare
Ambrose Healthcare is a UK-based biotechnology company advancing therapeutic solutions for rare diseases and hospital-managed patient populations. The company focuses on acquiring and developing late-stage assets with established clinical data.
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Virag Stephens (Chief of Staff)