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hVIVO opens new state-of-the art trial centre in Canary Wharf hub

Last updated: 07:00 19 Feb 2024 GMT, First published: 06:25 19 Feb 2021 GMT

Snapshot

  • hVIVO directors to sell stock to meet institutional demand
  • Hvivo is playing vital role as big pharma searches for silver-bullet amidst ‘tripledemic’
  • hVIVO contract win the first of many in 2024, says analysts
  • hVIVO chairman Cathal Friel says he remains committed to hVIVO following share sale
Open Orphan

About the company

hVIVO PLC is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and therapeutics using human challenge clinical trials. 

The group provides end-to-end early clinical development services to its large, established and growing repeat client base, which includes four of the top 10 largest global biopharma companies.

How it is doing

14 Feb 2024

hVIVO PLC, a specialist in the field of human challenge clinical trials for infectious and respiratory diseases, said certain directors have agreed to sell shares to meet institutional demand.

Involved in the secondary placing, managed by Cavendish Capital Markets and Peel Hunt, are Cathal Friel, hVIVO's co-founder and chairman, Pamela Iyer, Friel's spouse, and  Brendan Buckley, another co-founder and non-executive director of the business.

In all, they are selling 14 million shares for 28p each - which is around a quarter of their combined investment in hVIVO.

"Following a series of meetings with both new and existing institutional investors, it became apparent that demand for ordinary shares was in excess of those readily available for sale," the company said in a press release.

03 Feb 2024

In conversation with Proactive's Stephen Gunnion, hVIVO PLC chief executive Yamin 'Mo' Khan shared insights into the company's impressive financial performance for the year 2023. Amidst a backdrop of strategic expansion and robust growth, hVIVO has set new records, underlining its success and forward momentum in the pharmaceutical and clinical research industry.

Stephen Gunnion (SG): Mo, hVIVO has just released its trading update, boasting some significant achievements for 2023. Could you break down these financial highlights for us?

30 Jan 2024

hVIVO PLC, the human challenge clinical trials specialist, said that 90% of its revenue projections for this year are already secured through contracts as it reported a 15.5% increase in 2023 turnover.

In an update, it said that top-line figure would be in the order of £56 million for the 12 months just gone. At the same time, the company's EBITDA margins have risen to around 22% from 18.7% in 2022.

Insight: Hvivo is playing vital role as big pharma searches for silver-bullet amidst...

05 Dec 2022

The Americans have coined a term for it - the cocktail of flu, Covid and RSV. They call it the ‘tripledemic’.

Barclays Capital, tracking the experience of the US, believes this toxic combination could be a problem as we head into the winter period in the northern hemisphere.

What the brokers say

02 Jan 2024

Analysts  believe hVIVO PLC (AIM:HVO), the scientific trials company, is in a strong position to win additional contracts after sealing a £6.3 million deal to research treating the common cold.

hVIVO will conduct the research using the human challenge study model for an unnamed biotechnology firm.

The study hopes to provide strong evidence in favour of regulatory approval as well as send future trials in the right direction.

What management says

19 Feb 2024

hVIVO PLC (AIM:HVO) chairman Cathal Friel joined Proactive's Stephen Gunnion to discuss the sale of shares in hVIVO PLC by directors, including himself.

Friel explained his decision to sell a portion of his shares in hVIVO was to accommodate the high demand from major institutions while emphasizing his commitment to remain a long-term, supportive shareholder despite this sale.

Friel, who co-founded hVIVO (formerly known as Open Orphan) in 2017, highlighted the company's significant growth and his active involvement in its operations and strategic direction. He mentioned his 25-year experience in mergers and acquisitions (M&A) and his confidence in the company's ability to surpass its medium-term revenue target of £100 million, partly through strategic M&A activities.

Proactive Research

05 Sep 2023

hVIVO is establishing a new facility in the Canary Wharf life sciences hub, London. This will increase its quarantine bed capacity and provide greater flexibility to meet anticipated higher demand for its human challenge clinical trial services. The new site, which management notes is mostly funded by a number of its clients, will include quarantine rooms, laboratory space, outpatient facilities and corporate office space.

hVIVO chairman Cathal Friel says he remains committed to hVIVO following...

hVIVO PLC (AIM:HVO) chairman Cathal Friel joined Proactive's Stephen Gunnion to discuss the sale of shares in hVIVO PLC by directors, including himself. Friel explained his decision to sell a portion of his shares in hVIVO was to accommodate the high demand from major institutions while...

1 month ago