Open Orphan PLC New 3 Year Contract (7544Y)
06 Janvier 2020 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 7544Y
Open Orphan PLC
06 January 2020
6 January 2020
Open Orphan plc
("Open Orphan" or the "Company")
3 Year Contract with major Pharmaceutical Company
Open Orphan, a European-focussed, rare and orphan drug
consulting services platform, is pleased to announce the signing of
a new 3-year contract with a tier 1 German pharmaceutical company
which is one of Europe's top research-driven pharmaceutical
companies. The contract guarantees significant annual revenue with
work under the contract to commence this month.
This contract sees Venn Life Sciences ("Venn"), part of Open
Orphan plc, build upon its strong existing relationship with this
German pharmaceutical company with a new 3-year consultancy for
Pharmacokinetic (PK) analysis. This represents a significant
extension of the relationship in addition to a continuation of work
currently undertaken by Venn providing support in clinical trial
data analysis, as well as earlier stage projects.
Pharmacokinetics is a branch of pharmacology dedicated to
determine the fate of substances administered to the human body and
PK models help pharmaceutical companies to decide upon dosage and
potential adverse effects in new drugs under development. The Venn
team in Breda, since 1997, have become a preferred provider for
many innovative pharmaceutical companies that outsource their
pharmacokinetic analysis, including 3 out of the top 10 biggest
pharmaceutical companies.
Cathal Friel, Chief Executive of Open Orphan commented:
"This new contract is further evidence of Open Orphan delivering
against one of its key objectives, transforming Venn by
transitioning from ad-hoc short-term contracts to long-term
contracts with high quality customers thereby delivering secured
recurring revenues for the business. We look forward to delivering
the contract and building upon this great partnership with one of
the leading companies in the European pharma industry."
Enquiries:
Open Orphan plc Tel: +353 1 644 0007
Cathal Friel, Chief Executive Officer
Arden Partners (Nominated Adviser and Joint Broker) Tel: +44
(0)20 7614 5900
John Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer
Davy (Euronext Growth Adviser and Joint Broker) Tel: +353 (0)1
679 6363
Anthony Farrell (Corporate Finance)
Camarco (Financial PR) Tel: +44 (0)20 3757 4980
Tom Huddart / Dan Sherwen
Notes to Editors on Open Orphan:
Open Orphan plc is a European-focused, rare and orphan drug
consulting services platform. The Company intends to roll up a
number of orphan drug services businesses. Open Orphan has two data
driven digital platforms, a Genomic Health Data Platform, which is
establishing a rare disease database and a Virtual Rep platform
enabling pharmaceutical companies to engage key opinion leaders and
physicians. The Company is targeting rapid growth in one of the
fastest growing sectors in the global pharmaceutical industry
targeting under-supplied treatment for life threatening or very
serious diseases and rare disorders.
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END
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