hVIVO PLC (LON:HVO) has developed a human-based clinical trial platform to accelerate drug and vaccine development in respiratory and infectious diseases
Company is also developing a flu vaccine, FLU-v, through a joint venture with SEEK Group
Gearing up to take Flu-v into phase III trial
What it does
Using challenge trials, hVIVO helps drug companies researches influenza (flu), respiratory syncytial virus (RSV), human rhinovirus (HRV) and respiratory indications.
The trial chart the entire disease life cycle from healthy to sick and back to health.
The company is expanding its expertise into airways diseases such as asthma, chronic obstructive pulmonary disease (COPD) and coughs.
HVIVO is also developing a flu vaccine, FLU-v, through a joint venture with SEEK Group.
A phase II trial met its primary endpoint of statistical significance in symptom reduction.
The JV is looking for a partner to help fund the cost of what will be a sizeable phase III trial.
Currently, flu vaccines have to be redesigned every year as the flu virus evolves rapidly.
One of the major plus-points for FLU-v is that it offers long-lasting protection against a broad spectrum of influenza which hVIVO believes could be given to a much broader population.
How is it doing
Revenues of £5.9mln in the six months ended June 30, up £1mln year-on-year, or 20%.
The adjusted operating loss narrowed by more than a quarter to £3.7mln, while research and development spend fell by 60% to just £1.1mln.
hVIVO had cash and equivalents of £4mln at the period-end, supplement by an R&D credit worth £2.4mln that was paid earlier this month.
The statement added there had been an “unprecedented levels of contract cancellations”, due to client portfolio prioritisation, that had hit the cash position at “a time when business turnaround and efficiencies are still to be fully realised.
What the boss says, Trevor Phillips, executive chairman
"We have made progress in expanding our service offerings to enhance revenue opportunities, delivered further successful client studies and extend our position as a leader in viral challenge studies,”
- Partner for Flu-v vaccine to help fund phase IlI trial
- Expansion of challenge trials into new areas such as COPD and asthma
- New contracts for challenge trials in elderly patients