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Open Orphan lands human challenge study contract worth "a minimum of £7mln"

Researchers will carry out what’s called a human challenge study, which will be used to develop a vaccine against respiratory syncytial virus (RSV), an illness which causes cold-like symptoms

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Open Orphan PLC (LON:ORPH) said its newly-acquired hVIVO business has landed a contract with an unnamed European biotech worth a minimum of £7mln.

Researchers will carry out what’s called a human challenge study, which will be used to develop a vaccine against respiratory syncytial virus (RSV), an illness which causes cold-like symptoms.

Work is expected to start in the fourth quarter with revenue of £3.2mln expected to be booked in 2020.

London-based hVIVO owns Europe's only commercial 24-bed quarantine clinic and on-site virology laboratory and is the only company globally with the capability to run an RSV human challenge study.

The contract win is the first to use the complementary services of hVIVO and Open Orphan unit Venn Life Sciences and underlines the rationale for merging hVIVO and OO, said chief executive Trevor Phillips.

 “All aspects of the study will be conducted within Open Orphan, leading to the elimination of sub-contractor costs and retain more contracted revenue. We look forward to delivering the work for a European Biotech Company and further developing our relationship," he added.

Quick facts: Open Orphan PLC

Price: 15.055 GBX

AIM:ORPH
Market: AIM
Market Cap: £96.85 m
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