Open Orphan PLC (AIM:ORPH, OTC:OPORF) said its hVIVO subsidiary has inked a "substantial contract" with an existing top-five global pharmaceutical client to manufacture a virus for use in human challenge studies.
No financial details were provided, other than the acknowledgement that revenue from the deal will be recognised this year.
“This contract is testament to our world-class capabilities in the entire challenge trial process, beginning with virus manufacture, through to characterisation study and challenge study execution,” said chief executive Yamin 'Mo' Khan.
“This contract illustrates our ability to leverage this to build deep, long-lasting relationships with our clients over significant periods of time.”
Open Orphan is a contract research group specialising in infectious diseases. As well as virus manufacture, its hVIVO business carries out human challenge studies of new vaccines at a specialist centre in London.
In a separate announcement, the company moved to address speculation it could de-list from the stock market, saying it has no intention of doing so. The confusion emanated from a boiler-plate press release following its switch of nominated advisor from Arden Partners (AIM:ARDN) to Liberum following the former’s takeover.
Open Orphan said the wording of its announcement of April 28 was standard for all former clients of Arden "given the relatively short notice provided to the company to appoint and complete take-on of a new nominated adviser".