Venn Life Sciences Holdings PLC EUR1.2m Contract with Global Pharmaceutical Comp (8146U)

TIDMVENN

RNS Number : 8146U

Venn Life Sciences Holdings PLC

21 October 2014

Venn Life Sciences Holdings Plc

("Venn" or the "Company" or the "Group")

EUR1.2m Contract with Global Pharmaceutical Company

Venn Life Sciences (AIM: VENN), a growing Clinical Research Organisation (CRO) providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces the signing of a EUR1.2m agreement to conduct a Phase IV clinical trial with a Global Pharmaceutical Company specialising in allergic diseases.

The contract signing comes on the back of Venn completing the acquisition of Cardinal Systems in France, a CRO specialising in Data Management and Randomisation which enables Venn to offer the full service portfolio with in-house services. The addition of these services has been an instrumental factor in securing this contract. With over 25 years in the business, Venn has extensive experience in the management of paediatric trials. The study will be run in over 70 sites across Europe with the objective of recruiting 300 patients.

This now brings the total amount of new business won since May to EUR6.6m and demonstrates as a larger Group, Venn is able to win larger value pan-European multi-site contracts.

Speaking about the agreement, Venn CEO, Tony Richardson stated: "With the recent addition to our service portfolio and our geographic expansion throughout Europe, our clients are securely making the decision to choose us as their clinical trial partner for the future. I am particularly pleased that our first joint contract win with Cardinal is so significant and so soon after acquisition. I believe this represents an early endorsement of our decision to acquire data management and IRS capabilities and we are greatly encouraged by the pipeline for our new full service offering."

 
Venn Life Sciences Holdings Plc 
David Evans, Non-Executive Chairman                              Tel: [phone] 
Tony Richardson, Chief Executive Officer                            Tel: [phone] 
 
Zeus Capital (Nominated Adviser and 
 Broker) 
Ross Andrews/Andrew Jones (Corporate                             Tel: [phone] 
 Finance) 
Dominic Wilson (Institutional Sales)                             Tel: [phone] 
 
Walbrook PR Ltd                           Tel: [phone] or [e-mail] 
Paul McManus                                                     Mob: [phone] 
Lianne Cawthorne                                                 Mob: [phone] 
 

About Venn Life Sciences Limited: www.vennlifesciences.com

Venn Life Sciences is a Clinical Research Organisation providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK and Ireland and Europe wide representation - Venn specialises in rapid deployment and management of multisite projects. Venn recently established an innovation division - InnoVenn - focused primarily on breakthrough development opportunities in Skin Science.

About Phase IV trials:

Phase IV trial is also known as post-marketing surveillance Trial. Phase IV trials involve the safety surveillance (pharmacovigilance) and ongoing technical support of a drug after it receives permission to be sold. Phase IV studies may be required by regulatory authorities or may be undertaken by the sponsoring company for competitive or other reasons.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBLBDGUUDBGSG