TIDMORPH
RNS Number : 2114M
Open Orphan PLC
20 September 2021
Open Orphan plc
("Open Orphan" or the "Company")
GBP5.7m Influenza human challenge study contract win
Open Orphan plc (AIM: ORPH), a rapidly growing specialist
clinical research organisation (CRO) and world leader in vaccine
and antiviral testing using human challenge clinical trials ,
announces that hVIVO , a subsidiary of Open Orphan plc, has signed
a GBP5.7m contract with a specialist biotechnology company
developing therapeutics for respiratory viral infections, to test
its antiviral product using the hVIVO Influenza human challenge
study model.
The human challenge study is expected to commence in Q1 2022 and
will be conducted at hVIVO's state-of-the-art facilities in London.
The Company expects the revenue from the contract to be recognised
across 2021 and 2022.
The client's influenza antiviral product has demonstrated
effectiveness in animal preclinical models of respiratory viruses
and has several clinical and commercial advantages with respect to
convenience, resistance, durability and compatibility when compared
to similar products.
The Company expects to sign more contracts in this area as
attention switches to potential future Influenza outbreaks.
Influenza is expected to be a major global issue due to low level
population immunity caused by reduced infection rates over the last
18 months, which is the result of COVID-19 mitigation measures such
as social distancing and mask wearing. After a solidly EBITDA
profitable H1, this contract will help ensure the Company enters a
period of sustained growth and profitability across a whole range
of challenge studies.
hVIVO has two decades of experience and expertise in safely
conducting challenge studies across a range of respiratory viruses,
including various strains of Influenza, Respiratory Syncytial Virus
(RSV) and human Rhinovirus HRV (common cold virus), malaria,
asthma. In October 2020, this expanded to include the SARS-CoV-2
virus.
Cathal Friel, Executive Chairman of Open Orphan, said : "We are
delighted to be working with this biotechnology company to test
their exciting antiviral product against our Influenza human
challenge study model. As a result of social distancing, hand
washing and other COVID-19 mitigation measures, there has been
extremely low levels of population immunity to Influenza. As such,
there is an increasing concern that in the year ahead Influenza
outbreaks could spike considerably and therefore this type of
therapeutic could form part of an effective defence against future
outbreaks of Influenza due to its compelling array of clinical and
commercial advantages.
"This contract is also a further demonstration of our expertise
and capabilities testing therapeutics across the infectious disease
and respiratory market, which is due to grow exponentially to over
$250 billion by 2025, as pharmaceutical companies around the world
look to restock the medicine cabinets with novel vaccines and
antivirals. With this in mind, we expect that moving into 2022, our
work will continue to come from a broad range of infectious and
respiratory diseases, as we see rapid growth in those spaces. "
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 (as implemented into
English law) ("MAR") . With the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
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 . By volunteering to take part in one of
our studies in a safe, controlled, clinical environment under
expertly supervised conditions you are playing your part to further
medical research and help increase the understanding of respiratory
illnesses.
Individuals interested in taking part in COVID-19 human
challenge study research can learn more 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 Joint Broker) +44 (0) 20 7614 5900
John Llewellyn-Lloyd / Louisa Waddell
/ Oscair McGrath
finnCap plc (Joint Broker) +44 (0) 20 7220 0500
Geoff Nash / James Thompson/ Richard
Chambers
Davy (Euronext Growth Adviser and Joint
Broker) +353 (0) 1 679 6363
Anthony Farrell
Walbrook PR (Financial PR +44 (0)20 7933 8780 or openorphan@walbrookpr.com
& IR)
Paul McManus/ Sam Allen/ Louis Ashe-Jepson +44 (0)7980 541 893 / +44
(0) 7502 558 258 / +44 (0)
7747 515393
Notes to Editors
Open Orphan plc
Open Orphan plc (London and Euronext: ORPH) is a rapidly growing
contract research company that is a world leader in testing
vaccines and antivirals using human challenge clinical trials. The
Company provides services to Big Pharma, biotech and
government/public health organisations.
Open Orphan runs challenge studies in London from both its
19-bedroom Whitechapel quarantine clinic and its state-of-the-art
24-bedroom QMB clinic with its highly specialised on-site virology
and immunology laboratory. The Company has a leading portfolio of
human challenge study models for infectious and respiratory
diseases and is developing a number of new models. There has been
an explosion in the growth of the infectious disease market, which
is estimated to grow to in excess of $250bn by 2025. The Group is
focused on refreshing its existing challenge models and develop new
models, such as Malaria, to address the dramatic growth potential
of the global infectious disease market.
Building upon its many years of challenge studies and virology
research, the Company is developing an in-depth database of
infectious disease progression data. Based on the Company's Disease
in Motion(R) platform, this unique dataset includes clinical,
immunological, virological and digital (wearable) biomarkers. The
Disease in Motion platform has many potential applications across a
wide variety of end users including big technology, wearables,
pharma and biotech companies.
Open Orphan's Paris office has been providing biometry, data
management and statistics to its many European pharmaceutical
clients for over 20 years. For over 15 years, the Company's
Netherlands office has been providing drug development consultancy
and services, including CMC (chemistry, manufacturing and
controls), PK and medical writing, to a broad range of European
clients. Both offices are now also fully integrated with the London
office and working on challenge study contracts as well as
supporting third party trial contracts.
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