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Open Orphan says Venn Life Sciences business wins major clinical trial contract

The work with Carna Bioscience is expected to generate significant revenue over the next 12 months

Open Orphan PLC -

Open Orphan PLC (LON:ORPH) has followed its recent vaccines testing success with a clinical trial contract expected to deliver “significant revenue” over the next 12 months for its Venn Life Sciences business.

Its team in Breda, in the Netherlands, will be working with client Carna Bioscience to oversee the first-in-human pharmacology study, providing expertise in areas such as pharmacokinetics and pharmacodynamics.

Open Orphan said the work arose after several years of collaborating closely on drug development planning and pre-clinical activities with the Japanese group, which is bringing through treatments for cancer and immune disorders.

“This new contract with Carna further extends our relationship and demonstrates our ability to successfully service clients, resulting in repeat business,” Open Orhan chairman Cathal Friel said in a statement.

“We look forward to carrying out this contract over the next year as we deliver on our strategy of generating recurring revenue through long term, service contracts.”

In the same announcement, it was confirmed that Venn’s chemistry, manufacturing and control team, also based in Breda, had won a contract extension with an unnamed Dutch firm.

Both pieces of new business “are further evidence of [our] strategy to secure long-term partnership contracts which deliver recurring revenues for the business by working in close collaboration with high quality customers”, the company said.

Open Orphan is a specialist contract pharmaceutical services company that is a world leader in the testing of vaccines and antivirals using human challenge clinical trials.

Last week it confirmed that US biotech Codagenix Inc has commissioned its hVIVO arm to carry out a first-in-human trial of a potentially breakthrough nasal vaccine for coronavirus (COVID-19).

The phase I study of 48 healthy young adults will take place at hVIVO's state-of-the-art quarantine facility in London’s Whitechapel.

Work is expected to begin in the autumn with first data assessing safety and immunogenicity (whether the drug provokes an immune response) expected by the end of the year.

Quick facts: Open Orphan PLC

Price: 17.125 GBX

Market: AIM
Market Cap: £113.99 m

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