ValiRx raises stake in Morphogenesis to fund targets in cancer vaccine tech

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LONDON (AFX) - ValiRx PLC said it is investing 193,000 stg in emerging US biotechnology company Morphogenesis Inc in addition to subscribing for 250,000 share warrants, exercisable at 1 usd within the next three years.

The cancer therapeutics company said its investment is funding Morphogenesis' ImmuneFx, a cancer vaccine that targets tumours in both humans and pets and said it is due to go into phase II pre-clinical trials in 2007.

The company said it now holds 1.806 mln shares and 250,000 warrants in Morphogenesis.

source - AFX