Plans for a new larger state-of-the-art facility to meet growing demand
· Capacity increase to 50 quarantine beds with optionality to expand to 70
· Expansion of laboratory services to include cutting edge labs
· Largely funded by multiple hVIVO clients
hVIVO plc (AIM & Euronext: HVO), the world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces its plans for a new consolidated facility at the fast-growing life sciences hub in Canary Wharf, London. The expansion, largely funded by hVIVO clients, comes in response to the Company’s growing orderbook and increasing demand for its human challenge trial services.
A world class facility with further expansion capability
The upcoming state-of-the-art facility will serve as a comprehensive site, housing quarantine bedrooms, advanced laboratories, an outpatient unit, and corporate offices, all conveniently spread across two floors. The facility will contain 50 quarantine beds, with potential expansion capabilities to accommodate up to 70 quarantine beds in the future. This highly secure and specialised facility will also enable hVIVO to conduct even more challenge trials concurrently. Additionally, the on-site outpatient unit will facilitate Phase II and III field trials. The cutting-edge virology and immunology laboratories will significantly increase sample throughput and diversify hVIVO’s services, expanding its capacity to work with a broader range of pathogens.
Timely completion and seamless transition
The new facility’s first phase is anticipated to reach completion in Q1 2024, with the full site expected to be operational by Q2 2024. hVIVO’s current Whitechapel and Queen Mary Bioenterprises Centre (QMB) clinics will close in 2024 but will remain fully operational throughout this transition, ensuring uninterrupted service delivery to the Company’s clients. Additionally, hVIVO’s Plumbers Row and Manchester FluCamp screening facilities and outpatient unit will continue to serve as convenient locations for prospective volunteers.
Positive financial impact and optimised operations
The increase in demand from multiple clients seeking to accelerate their studies and preparedness for potentially larger challenge trials has resulted in a significant level of customer-led funding for the new facility. While maintaining a similar cost-per-bed as the current facilities, the new facility’s layout will consolidate all quarantine beds onto a single floor within one building. The increased capacity will enable hVIVO to maximise revenue through the utilisation of more beds and the provision of additional services. Moreover, centralising quarantine beds and laboratories in a single location will optimise staff utilisation, achieve operational cost savings, and improve overall efficiency and productivity.
Advancing research in infectious and respiratory diseases
This strategic relocation to a larger and more sophisticated facility underscores hVIVO’s commitment to advancing research in infectious and respiratory diseases. By leveraging highly secure and specialised state-of-the-art infrastructure and expanding its capabilities, hVIVO aims to make significant strides in the field of human challenge clinical trials. Additionally, the new facility is expected to contribute positively to the Company’s Environmental, Social, and Governance (ESG) goals.
Yamin ‘Mo’ Khan, Chief Executive Officer of hVIVO, said: “I am excited to share the news of our upcoming relocation to a new larger state-of-the-art facility. The new facility will feature increased capacity and offer the potential for up to 70 quarantine beds, which will enable us to increase the capacity for the Company to generate revenues. The new facility will also allow us to conduct a greater number of trials concurrently across various challenge models enabling the Company to maintain a higher level of capacity throughout the year. Furthermore, we will expand our laboratory capability, facilitating the broadening of our service offerings. Consolidating our operations into a single location will lead to improved operational efficiencies, ultimately enhancing our profit margins.
“We have exercised prudent financial management throughout this expansion, and I am pleased that a number of our clients have contributed to its funding. Their support underscores the urgency and importance of accelerating drug development, and the crucial role that human challenge trials are increasingly playing in the development of new vaccines and antivirals. Our mission to deliver today’s healthcare by empowering tomorrow’s innovation takes a leap forward.”
For further information please contact:
+44 (0) 20 7756 1300
Yamin ‘Mo’ Khan, Chief Executive Officer
Stephen Pinkerton, Chief Financial Officer
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