(Sharecast News) - Europe-focussed rare and orphan drug consulting service provider Open Orphan announced the signing of a contract with SFA Therapeutics, a biopharmaceutical company based in Pennsylvania, on Wednesday.
The AIM-traded firm said the contract would see Venn Life Sciences, part of Open Orphan, provide SFA Therapeutics with assistance in the filing of a European Medicines Agency application for Orphan Drug Designation, including providing both consulting and regulatory writing services.
Open Orphan said it was "delighted" to support SFA Therapeutics in the development of its promising novel treatment, adding that it hoped the agreement would be the first step in a longer-term relationship between both companies.
The board said the contract was evidence of Open Orphan executing its strategy of winning contracts in the fast-growing orphan drug sector, and its capability in being able to assist North American companies with their European activities.
It added that it was also an important contract due to the fact it was the first time that Venn had used Open Orphan's skills and expertise in filing a European Medicines Agency Orphan Drug Designation for a North American company, which already has a US FDA Orphan Drug Designation.
"This contract is a further demonstration of delivery against one of Open Orphan's key objectives, transforming Venn," said chief executive officer Cathal Friel.
"The contract is an exciting one as we are now building on our capability by actively winning work in the fast-growing orphan drug sector.
"We look forward to delivering the contract for SFA Therapeutics and building upon the relationship."
At 1214 GMT, shares in Open Orphan were up 2.65% at 5.8p.
11 Nov 2019 16:29
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