Business
First Day of Dealings and Re-admission
First Day of Dealings and Re-admission.
About this update from Hvivo Plc
[{"type":"text","content":"\n \nRNS Number : 7193D Open Orphan PLC 28 June 2019 \n\n28 June 2019\nOpen Orphan plc\n(\"Open Orphan\" or the \"Company\")\nFirst Day of Dealings and Re-admission to AIM and Euronext Growth\n \nOpen Orphan, a European-focussed, rare and orphan drug consulting services platform, is pleased to announce that Admission and dealings in its ordinary shares of 0.1 pence each (\"Ordinary Shares\") on AIM and Euronext Growth Dublin will commence at 8.00 a.m. today under the ticker ORPH.\nHighlights\n· The Company will target the fragmented orphan drug services market in Europe\n· The orphan drug sector is one of the fastest growing sectors in the global pharmaceutical industry and in the US in 2018 over 50% of all new US Food and Drug Administration (\"FDA\") approved drugs coming to market are for rare/orphan conditions\n· The Open Orphan strategy is to build upon its existing capability and expertise within orphan drugs to become a full-service consultancy for orphan and other speciality healthcare products, develop its patient health data platform in partnership with a number of patient advocacy groups and build a Virtual Rep and Data Access Platform consisting of physicians and key opinion leaders\n· Open Orphan has identified an extensive pipeline of target acquisitions primarily in the regulatory approval, reimbursement and product launch areas where the Directors perceive that companies need the most help navigating the complex European market\n· Placing raising £4.5 million (before expenses) by the issue of 80,357,142 new Ordinary Shares at the Placing Price of 5.6 pence per Ordinary Share\n· Dr Maurice Treacy appointed as an Executive Director of the Company\nCathal Friel, Chief Executive Officer of Open Orphan said:\n\"We have a clear growth strategy targeting the fast-growing market for orphan drugs. The management team and Board have a strong track record and we are confident in our abilities to generate significant shareholder returns. We look forward to updating our shareholders on the exciting acquisition pipeline and the addition of new Board members in due course.\"\nStrategy - Targeting the fragmented orphan drug services market\nThe Enlarged Group intends to target the fragmented orphan drug ser...