ValiRx Gains On tCRO Lab Lease, CSO Joins On Permanent Basis

ValiRx (LON: VAL) shares rose in the early part of Tuesday's session after the life science company announced the signature of a lease for laboratory space at MediCity and confirmed the appointment of Dr Cathy Tralau-Stewart as its Chief Scientific Officer.

ValiRx shares are up 3.5% in early trading.

Dr Cathy Tralau-Stewart was appointed ValiRX's Interim CSO in 2022 under a consultancy arrangement, but she has now agreed to become the company's CSO on a permanent basis.

“I have enjoyed working with the ValiRx team and am excited to accept a permanent role and to be part of building its future. The development of the tCRO is an important step forward and will fill the need for robust and reliable validated translational models in these areas,” commented Dr Tralau-Stewart.

Meanwhile, the new laboratory space is part of ValiRx's plan to establish an internal translational Contract Research Organisation. It forms the basis of the company's overall tCRO strategy.

MediCity, in Nottingham, has access to the local and national biotech community, as well as “quality talent from nearby universities and flexible laboratory space,” the company said.

The facilities confirmed under the lease agreement consist of a 910-square-foot laboratory space, with services including lab support and access to shared equipment.

The company said it is now working to build a “first-class science and operational team.”

“Confirming the signing of the laboratory lease enables us to build the lab team, accelerate development of our internal programmes at reduced cost and initiates the launch of the external tCRO service offering,” stated ValiRx CEO, Dr Suzy Dilly.