ValiRx subsidiary makes first sale
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16:09 18/11/24
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.
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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.