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Open Orphan expects early adopters to come aboard platform later this year

A revenue share scheme will be used to encourage patients with rare and orphan conditions to share their health data.

Open Orphan - Open Orphans expects early adopters to come aboard its platform later this year
Platform will give access to rare diseases experts

Rare disease specialist Open Orphan PLC (LON:OPRH) expects to announce the first early adopters of its genomic health data platform later this year.

Open Orphan carried out a reverse takeover of Venn Life Sciences in June with the aim of creating Europe's largest databases of rare disease patients through its two digital platforms.

In its first statement since the deal, Open Orphan said it has started to approach pharma companies and patient advocacy groups to help source rare disease patient genomic data.

A revenue share scheme will be used to encourage patients with rare and orphan conditions to share their health data.

Open Orphan’s second platform (virtual rep) ais to give pharmaceutical companies access to 4,000 key opinion leaders and physicians across Europe with a focus on orphan drugs.

In due course, the platform will enable Open Orphan to promote client services to its extensive list of key opinion leaders and physicians.

Cathal Friel, chief executive, said the group also had an extensive acquisition pipeline to help grow both platforms.

Operating losses in the half-year to June were €1.8mln on revenues of €5.8mln, though these relate to the old Venn Life business.

Open Orphan raised £4.5mln in June to refinance the business.

Quick facts: Open Orphan PLC

Price: 5.89995 GBX

Market: AIM
Market Cap: £31.45 m

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