hVIVO PLC (AIM:HVO), a specialist contract research organisation, said it had signed a £11.5 million contract as it confirmed financial guidance for the current year.
It has struck a deal with a leading global pharmaceutical client to test an antiviral candidate using its respiratory syncytial virus (RSV) human challenge study model.
The phase IIa trial will commence in the second half of 2025 at hVIVO's Canary Wharf quarantine facilities, with revenue recognized across 2025 and 2026.
“This contract further demonstrates the trust and confidence that leading pharmaceutical companies place in hVIVO's human challenge study models,” said Yamin ‘Mo’ Khan, CEO of hVIVO.
In the same update, the company reaffirmed its financial year 2024 revenue guidance of £62 million, projecting EBITDA margins at the high end of expectations (the current range is 22-24%).