Open Orphan PLC New Contract Win with Carna Bioscience ("Carna") (0001V)
04 August 2020 - 4:00PM
UK Regulatory
TIDMORPH
RNS Number : 0001V
Open Orphan PLC
04 August 2020
4 August 2020
Open Orphan plc
("Open Orphan" or the "Company")
New Contract Win with Carna Bioscience ("Carna")
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 the signing of a new contract with
Carna Bioscience ( www.carnabio.com ) for a First In Human Clinical
pharmacology trial. The contract is expected to deliver significant
revenue for Venn Life Sciences ("Venn") over the next twelve
months.
The contract sees the Breda, the Netherlands office of Venn, a
subsidiary of Open Orphan, provide Carna with a range of expertise
such as PK/PD analysis and other services related to early clinical
development. Carna is a Japanese company specialising in kinase
biology, developing innovative treatments against cancer and immune
disorders. This new contract builds upon several years of existing
work during which both parties closely collaborated on drug
development planning and pre-clinical activities.
In recent weeks, Venn's CMC team which is also based in Breda
have won a contract extension to continue a Dutch biotech on CMC
until at least the end of the year.
Both contracts are further evidence of Open Orphan's strategy to
secure long-term partnership contracts which deliver recurring
revenues for the business by working in close collaboration with
high quality customers.
Cathal Friel, Executive Chairman of Open Orphan, said:
"This new contract with Carna further extends our relationship
and demonstrates our ability to successfully service clients,
resulting in repeat business. We look forward to carrying out this
contract over the next year as we deliver on our strategy of
generating recurring revenue through long term, service
contracts."
For further information please contact
Open Orphan plc +353 (0)1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser +44 (0)20 7614
and 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 ) 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.
Notes to Editors on Carna Biosciences Inc:
Carna Biosciences is a biopharmaceutical company focused on the
discovery and development of kinase inhibitor drugs to treat
serious unmet medical needs in oncology, autoimmune and
neurological diseases by inhibiting kinases that are important
drivers for those diseases. Carna Biosciences was founded in Kobe,
Japan, in 2003 as a spinoff of Japan Organon (Nippon Organon KK).
Carna's initial focus was to develop an extensive number of
state-of-the-art, highest quality reagents for kinase drug
discovery, and has since established a leading drug discovery
program with a significant collection of proprietary chemical
libraries. For more information, please visit www.carnabio.com
.
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END
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