Inaphaea BioLabs has signed a Master Services Agreement and Project Statement of Work with a UK based biotech company. The first invoice has been issued relating to the work, with subsequent invoices anticipated at milestones during the project period.
This defined work programme involves a multi-stage project and is expected to complete at the end of September 2023. The project is investigating possible anti-cancer properties of a range of novel molecules using a phenotypic assay and will benefit from the use of patient-derived cells (“PDCs”) from Inaphaea’s biobank, recently acquired from the liquidated assets of Imagen. The Directors believe that ready access to in-house PDCs will simplify access to suitable in vitro cancer disease models.
In addition, Inaphaea has commenced studies on internal ValiRx assets VAL301 and Cytolytix CLX001, thereby reducing third party testing costs and reducing potential for delays.
Dr Suzy Dilly, CEO at ValiRx explains: “It is gratifying that the first external client secured by Inaphaea is benefiting from the PDCs we recently acquired. We are looking forward to working closely with this client, and hope for this to be the first contract in a substantial working relationship. With the first revenues now being generated by Inaphaea, we are delighted that our service offering is being well received and welcomed by our intended client base.”