Open Orphan PLC (AIM:ORPH, OTC:OPORF) signed a £5.1mln contract with an unnamed biopharmaceutical company to test a potential new medicine for respiratory syncytial virus using its human challenge study model.
While the evaluation will begin in the second half of next year, revenue from the deal will be recognised this year and 2022.
Chairman Cathal Friel said: “It is testament to our position as the world-leading provider of Phase IIa human challenge study clinical trials that innovative biopharmaceutical companies, as well as Big Pharma, are actively and regularly engaging us to test their novel vaccine and antiviral candidates.”
RSV is contagious and affects children and at-risk older adults. In severe cases, it can cause pneumonia and other life-threatening breathing difficulties.
Open Orphan, which has facilities in London, is a world leader in human challenge studies.