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Open Orphan unit wins clinical trial contract

No financial terms were revealed; however, the company said the Carna agreement would “deliver significant revenue”

Open Orphan Plc -
Its deal is with Japanese firm Carna Bioscience, which specialises in kinase biology

Open Orphan Plc (LON:ORPH) said its Venn Life Sciences unit has won a contract for a first-in-human pharmacology trial.

Its deal is with Japanese firm Carna Bioscience, which specialises in kinase biology and the clinical services provided will to be delivered over the next 12 months.

No financial terms were revealed; however, Open Orphan said the Carna agreement would “deliver significant revenue”.

It also builds on several years of existing work between Venn and Carna, the company added.

“The contract is an exciting one as we are now providing a much broader range of pharmaceutical services and the Venn team have managed to transition the provision of its initial pre-clinical consultancy services to Carna into a formal phase I clinical trial,” explained chief executive Cathal Friel.

Open Orphan operates a Europe-focussed, rare and orphan drug consulting services platform.

Quick facts: Open Orphan PLC

Price: 6.4 GBX

AIM:ORPH
Market: AIM
Market Cap: £28.52 m
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