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Share Name Share Symbol Market Type Share ISIN Share Description
VENN LIFE SCIENCES HOLDINGS PLC NEX:VENN.GB NEX Ordinary Share GB00B9275X97
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.15 1.28% 11.90 10.50 13.00 11.90 11.75 11.75 2,400 08:08:51
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Open Orphan PLC Update on antibody test and share price movement

18/05/2020 7:00am

UK Regulatory (RNS & others)


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TIDMORPH

RNS Number : 1282N

Open Orphan PLC

18 May 2020

18 May 2020

Open Orphan plc

("Open Orphan" or the "Company")

Update on antibody test agreement and recent share price movement

Open Orphan plc (ORPH) the rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs and is the world leader in the testing of vaccines and antivirals using human challenge study models, notes the increase in the Company's share price and media comment regarding its collaboration with Quotient Limited. Furthermore, it also notes the substantial increase in interest in antibody testing for Covid-19 following recent announcements by the UK Government.

The Company confirms that the MosaiQ COVID-19 Antibody Microarray machine is on site at hVivo's laboratory in East London and is undergoing testing. It is expected to be fully operational within two weeks following which it will have capability to undertake up to 3,000 tests a day, in line with expected performance as stated by Quotient Limited. The Company intends to enter into discussions with channel partners to secure testing volumes with pricing to be determined as part of these negotiations. It is not the company's intention to deal directly with consumers and while there can be no certainty on pricing until such time as terms are agreed, the Company notes current market prices ranging from c.GBP70 for home testing kits and upwards towards c.GBP150. It is the intention to supply testing capability to channel partners, who will in turn deal with the end users and the final price points. The Company will update shareholders in due course.

Further information on the Company's approach to Covid-19 antibody testing and vaccine trials is available on the Company's website

ENDS

For further information please contact

 
 Open Orphan plc 
                                                    +353 (0)1 644 
 Cathal Friel, Executive Chairman                    0007 
 Arden Partners plc (Nominated Adviser and          +44 (0)20 7614 
  Joint Broker)                                      5900 
 John Llewellyn-Lloyd / Benjamin Cryer 
                                                    +44 (0)20 7220 
 finnCap Ltd (Joint Broker)                          0500 
 Geoff Nash /James Thompson/Richard Chambers 
                                                    +353 (0)1 679 
 Davy (Euronext Growth Adviser and Joint Broker)     6363 
 Anthony Farrell 
                                                    +44 (0)20 3757 
 Camarco (Financial PR)                              4980 
 Tom Huddart / Hugo Liddy 
 

Notes to Editors:

Open Orphan is a rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs and is a world leader in the provision of virology and vaccine challenge study services and viral laboratory services. It has Europe's only 24-bedroom quarantine clinic with onsite virology lab in Queen Mary's Hospital London. hVIVO supports product development for customers developing antivirals, vaccines and respiratory therapeutics, all particularly relevant and topical in the environment of heightened awareness of Covid-19 in 2020. The Company also has a leading portfolio of 8 viral challenge study models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD viral challenge models. As announced in early March, Open Orphan is rapidly advancing a Coronavirus challenge study model and expects to be very active with many companies in the development of a Covid-19 vaccine. No other company in the world has such a portfolio, with only two competitors globally having 1 challenge study model each.

Open Orphan comprises of two commercial specialist CRO services businesses (Venn and hVIVO) and is developing an early stage orphan drug genomics data platform business. This platform captures valuable genetic data from patient populations with specific diseases with designated orphan drug status and incorporating AI tools. In June 2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings plc in a reverse take-over and in January 2020 it completed the merger with hVIVO plc. Venn, as an integrated drug development consultancy, offers CMC (chemistry, manufacturing and controls), preclinical, Phase I & II clinical trials design and execution. The merger with hVIVO created a European full pharma services company broadening the Company's customer base and with complementary specialist CRO services, widened the range of the Company's service offerings.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 18, 2020 02:00 ET (06:00 GMT)

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