Open Orphan PLC New 2-year contract with a tier 1 German company (6903D)
30 Octobre 2020 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 6903D
Open Orphan PLC
30 October 2020
30 October 2020
Open Orphan plc
("Open Orphan" or the "Company")
New 2-year contract with a tier 1 German pharmaceutical
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 2-year contract with a tier 1
German pharmaceutical company which is one of Europe's top
research-driven pharmaceutical companies.
The contract guarantees annual revenue, for the next two years,
with work under the contract to commence this month. The contract
will see the Venn Life Sciences ("Venn"), part of Open Orphan plc,
Breda office in the Netherlands, build upon its strong existing
relationship with this German pharmaceutical company.
This contract is an extension of the relationship built with the
leading German pharmaceutical company. The new contract is in
addition to the work currently undertaken by Venn, to the client,
providing support in quantitative sciences (pharmacokinetics and
pharmacometrics) as well as earlier stage projects.
As pharmacometric analysis is becoming an ever more important
part of regulatory submissions, the Venn team in Breda is
increasing its specialisation with the ambition of becoming the
European leader in pharmacometric analysis.
Cathal Friel, Executive Chairman, Open Orphan, said:
"Open Orphan's subsidiaries continue to excel, highlighting the
well-rounded expertise of the group and in turn maximising
shareholder value. This contract delivers on a number of our
ambitions, it is a large multi-year contract generating recurring
revenues, it is with a large partner and it utilises our expertise
in pharmacometric analysis."
"This new contract further demonstrates Open Orphan's ability to
execute on its significant pipeline of contracts with major
pharmaceutical business. It also demonstrates Venn Life Sciences
position as a market leader in its field."
Footnote
Pharmacometrics: Pharmacometrics is a discipline that integrates
biology, pharmacology, physiology and pathophysiology in
mathematical and statistical models to describe and quantify the
interactions between drugs and patients. i.e. involves the analysis
and interpretation of data produced in pre-clinical and clinical
trials.
Pharmacokinetics: the branch of pharmacology that studies the
fate of pharmacological substances in the body, as their
absorption, distribution, metabolism, and elimination.
If you are interested in being contacted and provided with
details about future COVID-19 human challenge study research,
please leave your contact details at www.UKCovidChallenge.com .
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTFFFFIIDLAFII
(END) Dow Jones Newswires
October 30, 2020 03:00 ET (07:00 GMT)
Hvivo (LSE:HVO)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Hvivo (LSE:HVO)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024