18th May 2022 16:43
(Alliance News) - Open Orphan PLC on Wednesday said its subsidiary hVIVO Ltd has signed a GBP7.3 million contract.
It has signed an influenza human challenge study with an unnamed biotechnology company. The study is expected to start next year.
Pharmaceutical services firm Open Orphan said the London-based study will test and assess the antiviral prophylactic and post-inoculation treatment activity of the biotechnology company's antiviral product in healthy adult volunteers.
The company said revenue from the contract is expected to be recognised across its 2023 and 2024 financial years.
Chief Executive Yamin said: "hVIVO has seen a steady increase in flu studies, a reflection of the shift in market sentiment following recent scrutiny of infectious disease data that has outlined the significant threat of flu and the potential of human challenge studies to the advancement of drug development candidates."
Shares in Open Orphan closed 4.6% lower at 13.60 pence in London on Wednesday.
By Sophie Rose; [email protected]
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