17:00 Tue 07 Jul 2020
Open Orphan PLC - Additional Laboratory Services Contracts Signed
("Open Orphan" or the "Company")
Additional Laboratory Services Contracts Signed
hVIVO has also recently signed a contract to run in vitro testing from its laboratory for a
As announced at Open Orphan's recent fundraise, the group is expanding its virology and laboratory testing services to third parties. This provision of third-party laboratory services is a growth area for the Group as numerous biotechnology companies and small cap pharmaceutical companies around the world do not have their own virology laboratory. hVIVO has a unique state-of-the-art virology laboratory which it needs to run its own clinical trials, however, quite often in the past it was no more than 15% to 20% utilised. Therefore, going forward it makes great business sense to build up the laboratory services to use this underutilised capacity, i.e. our existing staff resources and facilities, to build a more profitable and sustainable business going forward. These contracts are further evidence of the
"We are now continuing to sign additional new virology services contracts with third party customers and, as such, this is delivering upon one of our key commitments from when we acquired hVIVO earlier this year that, as part of our growth strategy, we were going to expand the range of our service offerings to third party pharmaceutical and biotech companies. I am excited by this area of growth for Open Orphan as we seek to maximise the value out of our fantastic facilities in
"We are delighted to be working with hVIVO, a world-leading virology laboratory and pioneer of viral challenge studies, in our efforts to evaluate NoBACZ's ground-breaking coating technology and its effectiveness at contact-killing respiratory viruses. hVIVO has the requisite experience and professional commercial focus to execute our pivotal studies rapidly and efficiently, allowing us to move forward in our ambitions to provide a quick-to-market solution for protecting the public against a resurgence of COVID-19 or similar outbreaks."
"hVIVO and Open Orphan have the unique combination of skills which shall help Nearmedic to get its novel ezrin peptide technology to the global pharmaceutical markets and help in the fight against the COVID-19 pandemic"
For further information please contact
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Arden Partners plc (Nominated Adviser and Joint Broker) | +44 (0)20 7614 5900 |
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finnCap plc (Joint Broker) | +44 (0) 20 7220 500 |
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Davy (Euronext Growth Adviser and Joint Broker) | +353 (0)1 679 6363 |
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Camarco (Financial PR) | +44 (0)20 3757 4980 |
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Notes to Editors - Open Orphan:
Open Orphan is a rapidly growing niche CRO pharmaceutical services company which is a world leader in the testing of vaccines and antivirals through the use of human challenge clinical trials. Conducted from
The Company has a leading portfolio of 8 viral challenge study models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD viral challenge models. As announced in early March, Open Orphan is rapidly advancing a number of Coronavirus challenge study models and expects to be helping many COVID-19 vaccine development companies to test their vaccines. No other company in the world has such a portfolio, with only two competitors globally having 1 challenge study model each. In
Open Orphan comprises of two commercial specialist CRO services businesses, hVIVO and
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