While the full details of the deal weren’t provided, in a statement Open Orphan said Venn would help “obtain and support market access of newly developed vaccines into the EU and US markets until the end of 2020”.
Investors were told the agreement was the result of “earlier successful contracts between the companies”.
A delighted Cathal Friel, chairman of Open Orphan, said the contract reinforced the company’s position as one of the leading service providers to the vaccine industry globally.
“As a result of the (coronavirus) COVID-19 pandemic, the vaccine industry is now an increasingly important and rapidly growing sector with many large pharmaceutical companies now directing huge amounts of resources towards their vaccine divisions to progress both COVID-19 and non-COVID-19 vaccines,” he added.
“Open Orphan is ideally positioned to capitalise upon this trend as we build the Company into a growing, profitable pharmaceutical services business."
The company has been one of a handful of healthcare success stories during the coronavirus pandemic and lockdown. Its hViVO operation has launched a best-in-class coronavirus testing service and has a London quarantine clinic with an onsite virology lab that can be used by makers of COVID vaccines.