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Venn Life Sciences (AIM: VENN), a growing Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces that it has signed a new contract worth €2.5m with Sedana Medical AB ("Sedana Medical"). Venn will carry out a randomised, controlled, open label Phase III study to confirm efficacy and safety of sedation with isoflurane in ventilated ICU patients. This trial is confined to patients in Germany and commences immediately. http://www.investegate.co.uk/venn-life-sciences--venn-/rns/contract-win/201611080700095443O/
Rising nicely now.
Good to see a sizeable £50,000 maiden share purchase from the new Chairman: http://www.investegate.co.uk/venn-life-sciences--venn-/rns/director-pdmr-shareholding/201611020703110838O/ Hardly surprising given VENN are on a single-digit P/E now. For the record, the latest forecasts from Hybridan are: this year : 2.35p EPS next year : 2.63p EPS
VENN will initially own 70% of a Newco (Integumen) which is to be set up as a consolidator of healthcare technologies, by converting its loan to Innovenn into shares in Integumen. Integumen is to buy 3 more businesses in close order and will float on AIM "in due course", which I'd suggest is pretty quickly. Once the acquisitions go through (assuming they do), VENN will own 30% of the enlarged company, at which point VENN will either retain the shares or distribute them to shareholders. This will crystallise a £0.96m profit for VENN in this year's accounts. The theoretical sale price of £4.74m is much more than I was thinking would be raised, though of course it's not cash. Exciting stuff...
Looks like lots of investors were waiting for the artificial skin to take off and opting put no it looks unlikely to work. Still looking like an interesting growth storymand getting more attractive by the day. Not in yet, but certainly on my watch list...
Our view: Venn has started FY 2016 on a strong note. The Company made good progress on both operational and financial fronts. Venn reported a sharp jump in revenue and improved EBITDA for H1 2016. Strong Cash reserves should help the Company deliver on its growth plans. Venn made progress on the integration of Kinesis and achieved initial cross sales. The Company expects to benefit from the acquisition of Kinesis in H2 2016. Venn extended its operating capabilities into the USA with the establishment of Venn Inc and the appointment of a VP of Operations USA. The Company has a solid line of opportunities for H2 2016 and remains fundamentally strong. Therefore, we retain a Speculative Buy rating on the stock' http://www.proactiveinvestors.co.uk/columns/beaufort-securities/26148/beaufort-securities-breakfast-alert-sainsbury-smiths-group-venn-life-sciences-26148.html
Hi my impression is that they are selling as it is loss making to focus on the core business after investment has bought labskin and Clarogel to commercialisation but they are planning on retaining shares so as to maintain access to the upside as this article below puts it In terms of specific figures I've only seen the results and commentary in the annual/interim reports that are available on the internet http://www.ifamagazine.com/market-and-economics/venn-life-sciences-shares-drop-despite-revenue-rise/ Also see comments by Timbo from 30/09 http://uk.advfn.com/stock-market/london/venn-life-VENN/share-chat I've known if him as a poster for a number of years and usually find his comments objective and seemingly well informed Best regards http://uk.advfn.com/stock-market/london/venn-life-VENN/share-chat
So it is the Labskin that they want to sell. I wonder if this is Brexit related? i.e. it was Labskin that was getting round the EU cosmetics testing regulations. I always thought it was a good idea and what first interested me in Venn. Seems like they were pumping money into it without seeing any prospects of a viable business. The article suggests that it was Labskin that was widening operating losses. Is there any figures around to suggest what sort of money Innovenn has been consuming and therefore what sort of financial picture one could expect post-selling? Thanks in advance.
Think drop will be very temporary http://www.irishtimes.com/business/health-pharma/income-more-than-doubles-at-clinical-trials-group-venn-1.2808420
I have been in VENN for 14months now and am shocked by this fall, I thought the recent apt and todays RNS were both good. Could be some investors were expecting more and/or think they have better opportunities elsewhere. In my humble opinion this is still worth buying for the long term.
Innovenn!
... what LTH's think of the interims. Is it that the market does not like the thought of selling in novel? Financials look good. Does venn still hv the skin lab technology?
Excellent new NED appointment - ex-Perrigo and Elan senior VP should bring in lots of contacts and potential new business: Http://www.investegate.co.uk/venn-life-sciences--venn-/rns/appointment-of-non-executive-director/201609220700125034K/
Not only an impressive appointment today - with the stress on the M&A aspect - but also good to see TR splitting the CEO and Chairman roles, which should please VENN's institutional shareholders.
lol http://www.investegate.co.uk/venn-life-sciences--venn-/rns/directorate-change/201609130700096049J/
Http://www.investegate.co.uk/venn-life-sciences--venn-/rns/notice-of-results/201608240700099445H/ Great to see that as well as a briefing for analysts, there's another presentation which all investors can attend in the evening. VENN are evidently one of the more progressive companies around.
Hybridan's updated note is below, they reckon 48p would bring it in line with sector peers:- https://indigo.bluematrix.com/indigo/Viewer.action?info=kK07jdZm7EFcYBVRqsaSOlZDzWd%2Fqwkt A 48p share price would be nice "in line with the broader healthcare sector", though even this doesn't appear to include any upside from an Innovenn spin-off.
New 5 minute interview with the CEO about the contract wins FYI: http ://www.proactiveinvestors.co.uk/companies/stocktube/5354/new-contract-build-global-footprint-says-venn-life-sciences-holdings-plc-ceo-5354.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-355215-PROACTIVITY+-+Techfinancials+advancing+with+confidence "New contract build global footprint, says Venn Life Sciences Holdings plc CEO 13:26 03 Aug 2016 Venn Life Sciences Holdings plc (LON:VENN) says the newly awarded 2.8mln contract allows the group to build a proper international footprintâ€�. The contract is with a European biotech group to carry out a phase II trial. Chief executive Tony Richardson says €™s the kind of business we've really been pursuing.âs a good up-and-coming European bio-tech client operating across many countries,he adds. Venn hails the deal and says vendor qualification is a significant milestone for its Interactive Response Technology and represents an exciting opportunity to grow a global account. The deal allows us to build a proper international footprint, says Richardson. €™s an exciting area to be working in and fits really well with current capabilities. The trial is for an immunotherapeutic treatment for Multiple Sclerosis, involving patients in six countries across Europe and starts in October."
The good news continues: - a major €2.8m contract win providing further visibility fir this and next year - and successful qualification "as a service provider to a top ten Pharmaceutical client" and the awarding of "an initial project involving thirty sites in China". This is great stuff for a £16m m/cap minnow, and shows the quality and expertise of the management, who've done this all before: Http://www.investegate.co.uk/venn-life-sciences--venn-/rns/contract-wins/201608030700080537G/
Yep excellent RNS - the IRT news is particularly significant. Good stuff. " I am particularly pleased with our success in IRT. Coming through the vendor qualification and audit process with "big-pharma" represents a significant step for our organisation and high quality execution of this initial project should result in a rich vein of new business." http://www.investegate.co.uk/venn-life-sciences--venn-/rns/contract-wins/201608030700080537G/
More progress
Good progress being made by this cracking company, and sentiment perhaps starting to catch up..... Good luck all
Yeah, that's a very nice AGM statement