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Open Orphan wins £4mln contract with top-three global pharma company

This latest agreement represents the continued conversion of a “substantial” new business pipeline into “significant cash flow”, the company said

Open Orphan PLC -

Open Orphan PLC (LON:ORPH) subsidiary hVIVO has signed a £4mln contract to conduct a human challenge study for an unnamed top-three global pharma company.

The respiratory syncytial virus (RSV) trial will take place at hVIVO’s London quarantine unit and is expected to be completed by the end of the first quarter next year.

This latest agreement represents the continued conversion of a “substantial” new business pipeline into “significant cash flow”, the company said.

It should also be noted this is the second time in six weeks Open Orphan has landed work with a top-three pharma business, underscoring its ability to attract new business from major life sciences companies. It is also the third RSV contract win so far this year.

In a statement, Open Orphan chairman Cathal Frie said the latest announcement provided “evidence of the high regard hVIVO is held in within the industry and reinforces our position as the world leader in the testing of vaccines and antivirals using human challenge clinical trials”.

“As a group, we are focused on winning and delivering high-quality, profitable contracts and this is another example of our delivery against that strategy,” he added.

The company has made huge strides since listing 14 months ago, working quickly to integrate acquisitions hVIVO and Venn Life Sciences while helping them generate significant streams of new business in the process.

Quick facts: Open Orphan PLC

Price: 17.125 GBX

AIM:ORPH
Market: AIM
Market Cap: £113.99 m
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