Open Orphan PLC GBP1.5m Contract renewal for Venn Life Sciences (2927S)
15 November 2021 - 6:00PM
UK Regulatory
TIDMORPH
RNS Number : 2927S
Open Orphan PLC
15 November 2021
Open Orphan plc
("Open Orphan" or the "Company")
GBP1.5m Contract renewal for Venn Life Sciences with a major
global pharmaceutical client
Open Orphan plc (AIM: ORPH), a rapidly growing specialist
contract research organisation (CRO) and world leader in vaccine
and antiviral testing using human challenge clinical trials ,
announces that Venn Life Sciences ("Venn"), a subsidiary of Open
Orphan, has signed a contract renewal with a major global
pharmaceutical client worth GBP1.5m over two years.
The renewed contract will commence in January 2022, with the
Venn team in Breda providing dedicated clinical pharmacokinetics
('PK') support to this leading global pharmaceutical client on an
array of drug development programmes, to study the absorption,
distribution, metabolism and excretion of drugs within the
body.
Venn, which has been a part of Open Orphan since 2019, offers a
combination of drug development consultancy, clinical trial design
and execution. These combined services enable Venn to provide its
clients with a complete end-to-end service on all the stages of
their drug development programmes, from the early planning phase to
final execution. Venn has offices in Breda (Netherlands) and Paris
(France).
Cathal Friel, Executive Chairman of Open Orphan, said: "We are
delighted to see this contract renewal signed by the Venn team in
Breda with a client that it has been working with since 2012. The
continued support by Venn to a distinguished partner such as this
demonstrates the value of Venn's clinical pharmacokinetics
offering, as part of its comprehensive offering in drug development
consultancy, clinical trial design and execution.
"Open Orphan's strengths lie in the established relationships we
have with our pharmaceutical partners and we expect to continue to
develop these relationships as well as focusing on converting our
existing pipeline of new business opportunities."
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.
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
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
pharmaceutical service/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. Open Orphan has a leading portfolio of
human challenge study models for infectious and respiratory
diseases and is developing a number of other models. There has been
an explosion in the growth of the infectious disease
pharmaceuticals 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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