Open Orphan PLC Statement re price movement and press speculation (9872Z)
24 Septembre 2020 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 9872Z
Open Orphan PLC
24 September 2020
24 September 2020
Open Orphan plc
("Open Orphan" or the "Company")
Statement re price movement and press speculation
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 notes the recent share price movement and press speculation
regarding UK government-funded Coronavirus human challenge
studies.
The Company confirms that it is in advanced negotiation with the
UK Government and other partners for a Coronavirus challenge study
in the UK. While negotiations continue, it is expected that in the
event that a contract is agreed revenue will be in excess of GBP7
million, being the approximate anticipated revenue for a
Coronavirus challenge study as indicated by the Company on 22 May
2020. However, there can be no certainty that these discussions
will lead to a new contract until final negotiations are concluded.
The Company will update the market in due course as
appropriate.
Further to its announcements of 9 March 2020 and 22 May 2020
regarding the development by the Company of a Coronavirus challenge
study model the Company remains in ongoing discussions with
potential vaccine developers regarding Coronavirus challenge
studies.
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.
ENDS
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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