Life science company ValiRx PLC (AIM: VAL) revealed on Monday that it has established a wholly owned subsidiary, ValiRx Animal Health Limited, to develop and commercialise its oncology assets within the veterinary market.

The new entity will leverage the company's existing and future cancer therapeutics portfolio, applying comparative oncology approaches that utilise naturally occurring tumours in animals to inform human cancer research. Preclinical work from ValiRx PLC's human programmes is expected to support early-stage veterinary clinical data, enhancing prospects for partnerships and human clinical development.

ValiRx Animal Health Limited is intended to access independent funding, with initial engagement underway with specialist veterinary venture capital investors. The strategy is designed to accelerate commercial opportunities for the Company's pipeline through partnerships with veterinary pharmaceutical groups.

The global veterinary oncology market, valued at USD1.58bn in 2024, is projected to reach approximately USD4.86bn by 2034, driven by rising pet ownership, increased cancer prevalence in companion animals and advances in diagnostics and targeted therapies.