The new agreement is an extension of work already being undertaken and will see Venn deliver further analytical services.
These services will include pharmacometrics (using maths, statistics and the sciences to model the interaction of drugs in the body) and pharmacokinetics, a branch of pharmacology that assesses how a drug is absorbed and distributed by the body.
As the latter is becoming an e important part of regulatory submissions, Open Orphan said the Venn team in Breda, in the Netherlands, is “increasing its specialisation with the ambition of becoming the European leader in pharmacometric analysis”.
"Open Orphan's subsidiaries continue to excel, highlighting the well-rounded expertise of the group and in turn maximising shareholder value. This contract delivers on a number of our ambitions, it is a large multi-year contract generating recurring revenues, it is with a large partner and it utilises our expertise in pharmacometric analysis,” said Open Orphan chairman Cathal Friel in a statement.
"This new contract further demonstrates Open Orphan's ability to execute on its significant pipeline of contracts with major pharmaceutical business. It also demonstrates Venn Life Sciences position as a market leader in its field."