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TIDMORPH
RNS Number : 6903D
Open Orphan PLC
30 October 2020
30 October 2020
Open Orphan plc
("Open Orphan" or the "Company")
New 2-year contract with a tier 1 German pharmaceutical company
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 a new 2-year contract with a tier 1 German pharmaceutical company which is one of Europe's top research-driven pharmaceutical companies.
The contract guarantees annual revenue, for the next two years, with work under the contract to commence this month. The contract will see the Venn Life Sciences ("Venn"), part of Open Orphan plc, Breda office in the Netherlands, build upon its strong existing relationship with this German pharmaceutical company.
This contract is an extension of the relationship built with the leading German pharmaceutical company. The new contract is in addition to the work currently undertaken by Venn, to the client, providing support in quantitative sciences (pharmacokinetics and pharmacometrics) as well as earlier stage projects.
As pharmacometric analysis is becoming an ever more important part of regulatory submissions, the Venn team in Breda is increasing its specialisation with the ambition of becoming the European leader in pharmacometric analysis.
Cathal Friel, Executive Chairman, Open Orphan, said:
"Open Orphan's subsidiaries continue to excel, highlighting the well-rounded expertise of the group and in turn maximising shareholder value. This contract delivers on a number of our ambitions, it is a large multi-year contract generating recurring revenues, it is with a large partner and it utilises our expertise in pharmacometric analysis."
"This new contract further demonstrates Open Orphan's ability to execute on its significant pipeline of contracts with major pharmaceutical business. It also demonstrates Venn Life Sciences position as a market leader in its field."
Footnote
Pharmacometrics: Pharmacometrics is a discipline that integrates biology, pharmacology, physiology and pathophysiology in mathematical and statistical models to describe and quantify the interactions between drugs and patients. i.e. involves the analysis and interpretation of data produced in pre-clinical and clinical trials.
Pharmacokinetics: the branch of pharmacology that studies the fate of pharmacological substances in the body, as their absorption, distribution, metabolism, and elimination.
If you are interested in being contacted and provided with details about future COVID-19 human challenge study research, please leave your contact details at www.UKCovidChallenge.com .
For further information please contact