Open Orphan PLC Major New Contract Win with Top 3 Pharma Company (5695V)
10 Août 2020 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 5695V
Open Orphan PLC
10 August 2020
10 August 2020
Open Orphan plc
("Open Orphan" or the "Company")
Major New Contract Win with Top 3 Pharma Company
Open Orphan plc (ORPH), a rapidly growing specialist CRO
pharmaceutical services company which is the world leader in the
testing of vaccines and antivirals using human challenge clinical
trials is pleased to announce a new contract, valued at GBP4m, with
a top 3 global pharmaceutical company to be the sponsor of and
provide a respiratory syncytial virus (RSV) human challenge study
trial.
This new GBP4m contract represents continued conversion of Open
Orphan's substantial pipeline and generation of significant cash
flow. The contract further validates Open Orphan's position as the
world leader in the provision of viral challenge study clinical
trials and laboratory services supporting both biotech and Big
Pharma in developing antivirals, vaccines and respiratory
therapeutics.
This study will take place in hVIVO's unique London-based
quarantine unit and is expected to be completed by the end of
quarter one 2021. The hVIVO unit is Europe's only commercial 24-bed
quarantine clinic with on-site virology laboratory. hVIVO is the
only company globally offering the capability to conduct an RSV
human challenge study.
Cathal Friel, Executive Chairman, Open Orphan, said:
"This is another exciting new contract win with a new customer
for Open Orphan's subsidiary hVIVO as we convert the substantial
pipeline that is building up within the Company. This contract,
with a top 3 global pharmaceutical company, is evidence of the high
regard hVIVO is held in within the industry and reinforces our
position as the world leader in the testing of vaccines and
antivirals using human challenge clinical trials. As a group we are
focused on winning and delivering high-quality, profitable
contracts and this is another example of our delivery against that
strategy."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
For further information please contact
Open Orphan plc +353 (0)1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser and +44 (0)20 7614
Joint Broker) 5900
John Llewellyn-Lloyd / Benjamin Cryer /
Dan Gee-Summons
+44 (0) 20 7220
finnCap plc (Joint Broker) 500
Geoff Nash / James Thompson/ Richard Chambers
Davy (Euronext Growth Adviser and Joint
Broker) +353 (0)1 679 6363
Anthony Farrell
+44 (0)20 3757
Camarco (Financial PR) 4980
Tom Huddart / Hugo Liddy
Notes to Editors - Open Orphan:
Open Orphan is a rapidly growing niche CRO pharmaceutical
services company which is a world leader in the testing of vaccines
and antivirals through the use of human challenge clinical trials.
Conducted from Europe's only 24-bedroom quarantine clinic with
onsite virology providing individually isolated rooms and connected
to our specialist laboratory facility which offers highly
specialised virology and immunology laboratory services to support
pre-clinical and clinical respiratory drug, antiviral, and vaccine
discovery and development. Reliable laboratory analysis underpinned
by scientific expertise is essential when processing and analysing
clinical samples. Robust quality processes support our team of
scientists in the delivery of submission ready data.
The Company has a leading portfolio of 8 viral challenge study
models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD
viral challenge models. As announced in early March, Open Orphan is
rapidly advancing a number of Coronavirus challenge study models
and expects to be helping many COVID-19 vaccine development
companies to test their vaccines. No other company in the world has
such a portfolio, with only two competitors globally having 1
challenge study model each. In June 2020 hVIVO COVID Clear Test was
launched, the most accurate antibody test available to UK
employers, helping them to get their people back to work.
Open Orphan comprises of two commercial specialist CRO services
businesses; hVIVO and Venn Life Sciences and is developing an early
stage orphan drug genomics data platform business. This platform
captures valuable genetic data from patient populations with
specific diseases with designated orphan drug status and
incorporating AI tools. In June 2019, Open Orphan acquired
AIM-listed Venn Life Sciences Holdings plc in a reverse take-over
and in January 2020 it completed the merger with hVIVO plc. Venn,
as an integrated drug development consultancy, offers CMC
(chemistry, manufacturing and controls), preclinical, Phase I &
II clinical trials design and execution. The merger with hVIVO
created a European full pharma services company broadening the
Company's customer base and with complementary specialist CRO
services, widened the range of the Company's service offerings.
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END
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