10th Aug 2020 10:56
Open Orphan PLC - pharmaceutical services company headquartered in London - Signs new contract valued at GBP4 million with an unnamed "top 3 global pharmaceutical company". The contract involves a respiratory syncytial virus human challenge study trial, which will take place at its hVIVO business's London-based quarantine unit and be completed by the end of the first quarter of 2021.
Open Orphan completed a reverse takeover of former London-listing hVIVO PLC back in January.
Executive Chair Cathal Friel: "This is another exciting new contract win with a new customer for Open Orphan's subsidiary hVIVO as we convert the substantial pipeline that is building up within the company. This contract, with a top 3 global pharmaceutical company, is evidence of the high regard hVIVO is held in within the industry and reinforces our position as the world leader in the testing of vaccines and antivirals using human challenge clinical trials. As a group we are focused on winning and delivering high-quality, profitable contracts and this is another example of our delivery against that strategy."
Current stock price: 14.18 pence
Year-to-date change: up more than 200%; December 31 price 4.55p.
By Anna Farley; [email protected]
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