30th Mar 2015 07:39
LONDON (Alliance News) - Venn Life Sciences Holdings PLC saw its shares rise early Monday after it said it has signed contracts worth a total of EUR4.1 million with an unnamed US biotechnology company.
Venn said the deals are an extension of an existing contract, which has now doubled in size, along with the award of a new clinical trial valued at EUR2.7 million.
The new trial will evaluate the efficacy of an oncological hematology and respiratory drug and will run for 24 months in a number of US and European cities.
"The signing of these contracts is a compliment to all the team at Venn who have been diligently working with this client since last year. It reinforces our commitment to consistently deliver excellent international services and our ability to win larger projects from global clients," said Venn Chief Executive Officer Tony Richardson.
Shares in Venn were up 12% to 23.8 pence in early trade, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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