Cathal Friel, Executive Chairman, Open Orphan, said: This is very exciting news as we are now signing up such challenge study contracts on a regular basis .
When we acquired hVIVO earlier this year it had rarely ever had 20-25% clinic utilisation and with the signing of this contract we are close to having the hVIVO quarantine clinic block booked with conventional challenge studies until December 2021. Within a month or two we are likely to have our quarantine clinic block booked for the next 18 months to two years with conventional challenge study contracts.
These continue to be really exciting times for us at Open Orphan and we are certainly on target to deliver everything that we had hoped to. I am sure recent press speculation has mentioned hVIVO in very good lights, however, naturally we are not at liberty talk about any new exciting Covid-19 challenge studies until first contracts are signed which we hope to do quite soon and we will be announcing same as soon as it is signed.
New £4.3m Challenge Study Contract Win with Global Top 10 Vaccine Company
Interim Results to be published Wednesday 30th September 2020
Open Orphan plc (ORPH), a rapidly growing specialist CRO pharmaceutical services company which is the world leader in the testing of vaccines and antivirals using human challenge clinical trials is pleased to announce a new £4.3 million contract to conduct a human viral challenge study utilising one of our 8 traditional challenge study models for another of the global top 10 vaccine companies.
This trial will be conducted in the Company’s dedicated human viral challenge quarantine unit in London with all volunteers recruited through hVIVO’s volunteer recruitment website, www.flucamp.com . The hVIVO unit is Europe’s only commercial 24-bedroom quarantine clinic with on-site virology laboratory.
Work on this major new contract has started already and the contract is expected to be delivered in Q1 2021 with the majority of revenues being generated in H1 2021. It is a further example of Open Orphan delivering on its pipeline and stated strategy of winning sizeable contracts.
The Company’s Interim Results will be published on the morning of Wednesday the 30th of September 2020, analyst conference call scheduled for 10.30 am on the 30th of September.
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