Open Orphan PLC New GBP4.3m Challenge Study Contract Win (2187A)
28 Septembre 2020 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 2187A
Open Orphan PLC
28 September 2020
28 September 2020
Open Orphan plc
("Open Orphan" or the "Company")
New GBP4.3m Challenge Study Contract Win with Global Top 10
Vaccine Company
Interim Results to be published Wednesday 30(th) September
2020
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 GBP4.3 million contract to
conduct a human viral challenge study utilising one of our 8
traditional challenge study models for another of the global top 10
vaccine companies.
This trial will be conducted in the Company's dedicated human
viral challenge quarantine unit in London with all volunteers
recruited through hVIVO's volunteer recruitment website,
www.flucamp.com . The hVIVO unit is Europe's only commercial
24-bedroom quarantine clinic with on-site virology laboratory.
Work on this major new contract has started already and the
contract is expected to be delivered in Q1 2021 with the majority
of revenues being generated in H1 2021. It is a further example of
Open Orphan delivering on its pipeline and stated strategy of
winning sizeable contracts.
The Company's Interim Results will be published on the morning
of Wednesday the 30(th) of September 2020, analyst conference call
scheduled for 10.30am on the 30(th) of September.
Cathal Friel, Executive Chairman, Open Orphan, said:
"Open Orphan continues to execute on its substantial pipeline
that has been built up by the expertise and experience of our
professional and hardworking teams in hVIVO and Venn Life Sciences
. We are focused on continuing to deliver large and profitable
contracts which demonstrate hVIVO's position as the world leader in
the testing of vaccines and antivirals using human challenge
clinical trials.
Our stated objectives when we acquired hVIVO in January of this
year was to increase its 24-bedroom quarantine clinic annual
utilisation from its traditional 20-25% utilisation up to maximum
capacity and to build out a clear pipeline of signed contracts
going forward. With this contract, we are close to having the hVIVO
quarantine clinic block booked with our conventional challenge
studies until December 2021. Within a month or two we are likely to
have our quarantine clinic block booked out for the next 18 months
to two years with conventional challenge study contracts.
I am hugely excited by the progress we are making as a Group
since our IPO in 2019 and I look forward to continuing to update
shareholders on the work we are doing over the coming months."
Interested in becoming a volunteer?
hVIVO recruits many of its volunteers for its challenge study
clinical trials through its dedicated volunteer recruitment
website, www.flucamp.com . hVIVO welcomes volunteers to take part
in our clinical trials under expertly supervised conditions, to
further medical research, and help us to take the understanding of
respiratory illnesses to a new level. Volunteers are central to the
work that we do; our studies focus on testing new treatments on
real people, in a safe, controlled, clinical environment. Further
details on all aspects of our volunteer programs including
testimonials from previous volunteers can be found at
www.flucamp.com.
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. hVIVO's challenge studies
require healthy volunteers to take part, volunteers are recruited
through FluCamp, learn more at www.FluCamp.com . The hVIVO facility
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. hVIVO also works with companies in the
UK and Ireland to provide COVID-19 testing to staff to protect
staff and customers from a workplace COVID-19 outbreak through its
COVID Clear offering.
Open Orphan comprises of two commercial specialist CRO services
businesses, hVIVO and Venn Life Sciences and is also building out a
valuable data platform business. hVIVO has built up one of the
world's largest databases of infectious disease progression data
and we are populating our Open Orphan Health Data platform with
this historical hVIVO data. In our clinical trials going forward,
we are also planning to collect data on volunteer's via wearables
during clinical trials. Therefore, Open Orphan's data, which may
yield valuable digital biomarkers, could be one of the more
sought-after datasets by many of the large wearables /smart watch
wearables providers around the world. 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 in January 2020. Venn is an integrated drug development
consultancy firm which 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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