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PARIS, February 06, 2024--(BUSINESS WIRE)--Regulatory News:
Valerio Therapeutics S.A. (Euronext Growth Paris: ALVIO), hereafter "Valerio Therapeutics" or the "Company", a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage Response (DDR), today announces a reduction of the par value of its shares.
Using the authorisation granted by the Shareholders’ General Meeting of 6th February 2023, the Board of Directors held today decided to reduce the share capital by eliminating part of the losses incurred, by an amount of €16,980,070.03.
This capital reduction, motivated by losses, is being carried out by reducing the nominal value of the Company's shares from €0.25 euro to €0.14. Its purpose is to facilitate any new financial transactions that may be appropriate in the future.
The Company points out that this is a purely technical operation. Neither shareholders' equity nor the rights of holders of financial instruments will be affected.
Following this operation, the Company's share capital will amount to €21,610,998.20, divided into 154,364,273 ordinary shares with a par value of €0.14 each.
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About Valerio Therapeutics
Valerio Therapeutics (Euronext Growth Paris) is a clinical-stage biotechnology company developing innovative oncology drugs targeting tumor DNA-binding functions through unique mechanisms of action in the sought-after field of DNA Damage Response (DDR). The Company is focused on bringing early-stage first-in-class or disruptive compounds from translational research to clinical proof-of-concept, a value-creating inflection point appealing to potential partners..
platON is Valerio Therapeutics’s proprietary chemistry platform of DNA decoy therapeutics, which generates new innovative compounds and broaden the Company’s product pipeline.
AsiDNA, the first compound from platON, is a highly differentiated, clinical-stage first-in-class candidate in the field of DNA damage response (DDR) applied to oncology. Its DNA decoy therapeutic mechanism acting upstream of multiple DDR pathways results in distinctive antitumor properties, including the ability to prevent or abrogate tumor resistance to targeted therapies such as PARP inhibitors and strong synergy with tumor DNA-damaging agents such as radio-chemotherapy. AsiDNA is currently being studied in Europe and the US in combination with other treatment modalities in difficult-to-treat solid tumors.
VIO-01 (formerly OX425), the second compound from platON, is a novel pan-DDR Decoy with high antitumor activity. It also mediates multiple immunostimulatory effects by activating the STING pathway. OX425 is currently undergoing IND-enabling preclinical development.