Business
Major New Contract Win with Top 3 Pharma Company
Major New Contract Win with Top 3 Pharma Company.
About this update from Hvivo Plc
[{"type":"text","content":"\n \n \n RNS Number : 5695V\n Open Orphan PLC\n 10 August 2020\n \n \n \n \n 10 August 2020\n \n \n Open Orphan plc\n \n \n (\"Open Orphan\" or the \"Company\")\n \n \n Major New Contract Win with Top 3 Pharma Company\n \n \n 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 contract, valued at £4m, with a top 3 global pharmaceutical company to be the sponsor of and provide a respiratory syncytial virus (RSV) human challenge study trial.\n \n \n \n \n \n This new £4m \n contract represents continued conversion of Open Orphan's substantial pipeline and generation of significant cash flow. The contract further validates Open Orphan's position as the world leader in the provision of viral challenge study clinical trials and laboratory services supporting both biotech and Big Pharma in developing antivirals, vaccines and respiratory therapeutics.\n \n \n \n \n \n This study will take place in hVIVO's unique London-based quarantine unit and is expected to be completed by the end of quarter one 2021. The hVIVO unit is Europe's only commercial 24-bed quarantine clinic with on-site virology laboratory. hVIVO is the only company globally offering the capability to conduct an RSV human challenge study.\n \n \n \n \n \n Cathal Friel, Executive Chairman, Open Orphan, said:\n \n \n \n \n \n \"This is another exciting new contract win with a new customer for Open Orphan's subsidiary hVIVO as we convert the substantial pipeline that is building up within the Company. This contract, with a top 3 global pharmaceutical company, is evidence of the high regard hVIVO is held in within the industry and reinforces our position as the world leader in the testing of vaccines and antivirals using human challenge clinical trials. As a group we are focused on winning and delivering high-quality, profitable contracts and this is another example of our delivery against that strategy.\"\n \n \n \n \n \n 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 (\"MAR\"). With the publication of this announcement via a Regulato...