NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THE COMMUNICATION OF THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS OR MATERIALS RELATING TO THE RETAIL OFFER AS A FINANCIAL PROMOTION IS ONLY BEING MADE TO, AND MAY ONLY BE ACTED UPON BY, THOSE PERSONS IN THE UNITED KINGDOM FALLING WITHIN ARTICLE 43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (WHICH INCLUDES AN EXISTING MEMBER OF VALIRX PLC). ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN ONLY BY SUCH PERSONS. THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF VALIRX PLC.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS AMENDED BY REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

19 December 2023

VALIRX PLC

("ValiRx" or the "Company")

Result of Retail Offer

Director and PDMR Subscription

Further to the Conditional Fundraise, Notice of General Meeting announcement dated 13 December 2023, ValiRx plc (the "Company") (AIM: VAL), is pleased to announce that, following the closing of the Retail Offer on the BookBuild platform on 19 December 2023, a total of 3,204,068 new Shares have been subscribed for at the Issue Price of 6 pence per Retail Offer Share in connection with the Retail Offer, raising £192,244 for the Company, before expenses. In addition, the Company has conditionally issued 499,998 new Shares at the Issue Price of 6 pence per Subscription Share pursuant to the Subscription.

Consequently, 26,324,997 Placing Shares, 499,998 Subscription Shares and 3,204,068 Retail Offer Shares, resulting in a total of 30,029,063 new Shares, will be issued conditional on shareholder approval at the Company's forthcoming general meeting and Admission, in relation to the Placing, Subscription and Retail Offer, raising total gross proceeds of approximately £1.80 million.

Subscription

In addition to the Placing and the Retail Offer, certain Directors and PDMRs (together the "Participants") of the Company have agreed to subscribe directly with the Company for, in aggregate, 499,998 Subscription Shares at the Issue Price of 6 pence per Share. Details of the Subscription are set out below:

In addition to the Subscription, and as announced on 13 December 2023, Stella Panu, Non-Executive Director of the Company has subscribed for 333,333 Placing Shares. Subject to the passing of the Fundraising Resolutions, the Placing Agreement becoming unconditional and Admission, Stella Panu will hold 333,333 Shares representing approximately 0.25% of the Enlarged Share Capital of the Company.

The aggregate participation by all Directors and PDMRs pursuant to the Placing and Subscription is approximately £50k.

The participation of the Participants in the Subscription constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules by virtue of the Participants being a director or PDMR of the Company and therefore a related party (the "Transactions"). Stella Panu, Non-Executive Director, being a director of the Company independent of the Transactions considers, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser for the purposes of the AIM Rules, that the terms of the Transactions are fair and reasonable in so far as the Shareholders are concerned.

The Retail Offer Shares and Subscription Shares will, when issued, be credited as fully paid up and will have the same rights as the Existing Ordinary Shares including, voting, dividend, return of capital and other rights, and will on issue be free of all claims, liens, charges, encumbrances and equities.

Capitalised terms used in this announcement have the meaning given to them in the Conditional Fundraise, Notice of General Meeting announcement dated 13 December 2023, unless otherwise defined in this announcement.

For more information, please contact:

Notes for Editors

About ValiRx

ValiRx is a life science company focused on early-stage cancer therapeutics and women's health, accelerating the translation of innovative science into impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for enabling rapid translation of innovative science into clinical development.

Using its extensive and proven experience in research and drug development, the team at ValiRx selects and incubates promising novel drug candidates and guides them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. The team works closely with carefully selected collaborators and leverages the combined expertise required for science to advance.

Lead candidates from ValiRx's portfolio are outlicensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation. 

ValiRx listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

For further information, visit: www.valirx.com

Cautionary statement

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.