22nd Aug 2022 10:20
(Alliance News) - Open Orphan PLC on Monday said its subsidiary hVIVO Ltd has won a GBP10.4 million contract.
Shares in the London-based pharmaceutical services firm were up 6.0% to 11.93 pence each in London on Monday morning.
Open Orphan said the contract has been signed with an "existing top five global pharmaceutical client". This is the third human challenge contract signed with the client, it added.
Clinical research company hVIVO are contracted to manufacture a new batch of H1N1 influenza challenge virus, leveraging off an existing in-house generated challenge model, and to conduct a human challenge trial to test the client's antiviral product.
Manufacturing activities will begin immediately and are expected to be complete by the second quarter of 2023.
Once completed, hVIVO will conduct a phase 2a double-blinded placebo-controlled human challenge study which is expected to be complete by the fourth quarter of 2023.
The majority of revenue from the contract is expected to be recognised during 2023, Open Orphan added.
Open Orphan Chief Executive Officer Yamin Khan said: "This contract is the third challenge study with this client, and our second end-to-end full-service contract overall.
"Influenza poses a serious global health threat, causing an estimated 290,000 to 650,000 deaths per year with significant pandemic potential, and as such, the development of new vaccines and antivirals to fight flu remains vitally important," Khan added.
By Sophie Rose; [email protected]
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