Venn Life Sciences Holdings PLC Venn Life Sciences expands into Russia (3135X)

TIDMVENN

RNS Number : 3135X

Venn Life Sciences Holdings PLC

07 February 2013

Venn Life Sciences Holdings Plc

("Venn" or the "Company")

Venn Life Sciences expands into Russia

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 its expansion into Russia through the establishment of Venn Russia, a new Joint Venture with a locally established CRO.

Venn Russia, which will operate from offices in Moscow, adds to an already excellent pool of talent and geographic reach throughout Europe. Venn Russia complements the existing European CRO business with their unique on-the-ground knowledge of local regulatory standards, exceptional investigator relationships and multilingual staff.

Since Venn's successful AIM IPO in December 2012, the Management have been pursuing its strategy (as outlined in the Admission Document) of seeking out acquisition opportunities that extend both service capability and geographic reach, a strategy which they see as a key value driver for shareholders and which will build Venn into a mid-sized pan-European CRO.

A number of opportunities, in addition to the Venn Russia Joint Venture, have been identified and good progress has been made with a number of targets. Discussions with a sizeable European CRO are progressing well and the acquisition of this business would further extend Venn's reach into European territories not currently covered by the Company.

Commenting on the Company's expansion, Venn CEO, Tony Richardson, said: "This move further solidifies Venn's vision to become the leading mid-sized CRO in Europe. Through moving into developing markets such as Russia, with experienced teams, we are able to offer our clients better choice and access to more patient populations."

Natalia Bulanova, Medical Director of Venn Russia, adds: "We are delighted to become part of Venn, a dynamic and focused CRO. Their ethos, in terms of delivering excellent quality to their clients and being a great place to work, makes this coming together a great fit. We are looking forward to the future as a team."

 
 Enquiries: 
 
   Venn Life Sciences Holdings Plc 
 Tony Richardson, Chief Executive Officer                        Tel: [phone] 
 Orla McGuinness, Sales and Marketing                       Tel: [phone] 
  Manager                                                        Tel: [phone] 
  Paul Foulger, Finance Director 
 
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 Paul McManus                                                      Mob: [phone] 
 Lianne Cawthorne                                                  Mob: [phone] 
 

Additional information:

Venn Life Sciences is a CRO providing a suite of consulting and clinical trial services to pharmaceutical, biotechnology and medical device organisations and having operations in Ireland, France, the Netherlands and Switzerland. The Venn Group also includes a Clinical Insourcing business based in France providing short and long term recruitment solutions to a wide range of sponsors.

The new Venn team have over 15 years' experience serving both the Russian and Ukraine regions, with core competencies in Oncology, Cardiovascular, GI and Respiratory from Phase I-IV. The senior management team are Medical Doctors and have built up strong and valuable investigator relationships across both countries.

This information is provided by RNS

The company news service from the London Stock Exchange

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