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VENN Venn Life Sciences Holdings Plc

6.85
0.00 (0.00%)
09 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Venn Life Sciences Holdings Plc LSE:VENN London Ordinary Share GB00B9275X97 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.85 6.70 7.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Open Orphan PLC Option to Acquire CHIMagents Limited

15/07/2020 7:00am

RNS Non-Regulatory


TIDMORPH

Open Orphan PLC

15 July 2020

RNS Reach

15 July 2020

Open Orphan plc

("Open Orphan" or the "Company")

Option to Acquire CHIMagents Limited

Open Orphan plc (ORPH), a rapidly growing specialist CRO pharmaceutical services company which is the world leader in the testing of vaccines and antivirals using human challenge clinical trials is pleased to announce it has signed an option to acquire (the "Option") CHIMagents Limited ("CHIMagents") for a nominal sum.

CHIMagents was recently established to assist in the design, manufacture and testing of challenge agents for use in challenge studies. CHIMagents was established by an experienced team and have made great progress across a number of workstreams which will be highly valuable as part of the broader Open Orphan Group. CHIMagent's Adrian Wildfire has over 20 years of industry experience and will join hVIVO as Director, Scientific and Business Strategy.

Under the terms of the Option, Open Orphan will have three months to exercise its option to acquire CHIMagents. Upon execution, CHIMagents will be a standalone company within Open Orphan.

CHIMagents will support hVIVO with the design, manufacture and testing of both new challenge agents and hVIVO's industry leading portfolio of 8 existing challenge study agents. CHIMagents will also support hVIVO's growing pipeline of challenge study clinical trials and help in accelerating the development of hVIVO's Covid-19 challenge study clinical trials.

hVIVO's pipeline of challenge studies is expected to grow further given the increasing importance and focus on developing vaccines and anti-virals globally. Therefore, the Option is an important strategic step for Open Orphan as it brings additional, experienced resources to the Group and will ensure that Open Orphan can meet the increased demand for its services as the world leader in the testing of vaccines and antivirals through the use of human challenge clinical trials.

Cathal Friel, Executive Chairman of Open Orphan, said:

"We look forward to working with Adrian Wildfire and the CHIMagents team going forward and this Option is an important strategic step for the business as we rapidly grow our pipeline of challenge studies. The work CHIMagents is undertaking in relation to COVID-19 challenge agents also complements our own work and we look forward to updating all shareholders on that workstream in due course. We have real momentum across the Group and this Option further cements our position as one of the leading service providers to the developers of vaccines and anti-virals globally."

For further information please contact

 
 Open Orphan plc                                  +353 (0)1 644 0007 
 Cathal Friel, Executive Chairman 
 
 Arden Partners plc (Nominated Adviser and        +44 (0)20 7614 
  Joint Broker)                                    5900 
 John Llewellyn-Lloyd / Benjamin Cryer / 
  Dan Gee-Summons 
 
                                                  +44 (0) 20 7220 
 finnCap plc (Joint Broker)                        500 
 Geoff Nash / James Thompson/ Richard Chambers 
 
 Davy (Euronext Growth Adviser and Joint 
  Broker)                                         +353 (0)1 679 6363 
 Anthony Farrell 
 
                                                  +44 (0)20 3757 
 Camarco (Financial PR)                            4980 
 Tom Huddart / Hugo Liddy 
 

Notes to Editors - Open Orphan:

Open Orphan is a rapidly growing niche CRO pharmaceutical services company which is a world leader in the testing of vaccines and antivirals through the use of human challenge clinical trials. Conducted from Europe's only 24-bedroom quarantine clinic with onsite virology providing individually isolated rooms and connected to our specialist laboratory facility. Which offers highly specialised virology and immunology laboratory services to support pre-clinical and clinical respiratory drug, antiviral, and vaccine discovery and development. Reliable laboratory analysis underpinned by scientific expertise is essential when processing and analysing clinical samples. Robust quality processes support our team of scientists in the delivery of submission ready data.

The Company 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 number of Coronavirus challenge study models and expects to be helping many COVID-19 vaccine development companies to test their vaccines. No other company in the world has such a portfolio, with only two competitors globally having 1 challenge study model each. In June 2020 hVIVO COVID Clear Test was launched, the most accurate antibody test available to UK employers, helping them to get their people back to work.

Open Orphan comprises of two commercial specialist CRO services businesses ( hVIVO and Venn ) 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.

About RNS Reach announcements

This is an RNS Reach announcement. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

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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July 15, 2020 02:00 ET (06:00 GMT)

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