28th Jun 2019 13:21
(Alliance News) - Shares in Open Orphan PLC began trading in London on Friday following the combination of Venn Life Sciences Holdings PLC and Open Orphan DAC.
Venn Life Sciences announced the GBP5.7 million all-share deal for Open Orphan in May.
Open Orphan will be targeting the "fragmented" orphan drug services market in Europe, which it said is one of the fastest growing spheres in the pharmaceutical industry.
Cathal Friel, Open Orphan's chief executive, said: "We have a clear growth strategy targeting the fast-growing market for orphan drugs. The management team and board have a strong track record and we are confident in our abilities to generate significant shareholder returns.
"We look forward to updating our shareholders on the exciting acquisition pipeline and the addition of new board members in due course."
Shares were up 0.6% at 6.89 pence on Friday afternoon.