Volition, ValiRx deal

The parties amended the terms of the 2010 sale of ValiRx's Belgian cancer diagnostics subsidiary, ValiBIO S.A., to Volition. Volition will issue an additional $510,000 in Volition shares to ValiRx in exchange for rights to ValiRx's patent application for an endometriosis device for diagnostic applications, as well as exclusive, worldwide rights to a patent covering hypergenomics technology. Volition originally received rights to the technology through a sublicense. Volition will in turn issue exclusive rights to the hypergenomics technology to ValiRx's ValiPharma subsidiary to use with ValiRx's GeneICE and ARP programs. GeneICE enables the selective silencing of specific genes by targeted histone deacetylation. ...