(Sharecast News) - Contract research organisation Open Orphan announced on Tuesday that iits subsidiary hVIVO has signed a £7.2m contract with an existing global pharmaceutical company to test its orally-administered antiviral product using its human challenge study model for respiratory syncytial virus (RSV).
The AIM-traded firm said the phase 2a double-blinded placebo-controlled human challenge study would take place at its specialist quarantine facilities in Whitechapel, and would evaluate the safety and efficacy profile of the antiviral against RSV.
It said the study would start in June, with the revenue being recognised in 2022 and 2023.
As part of the study, hVIVO would recruit healthy volunteers via its dedicated volunteer recruitment arm, FluCamp.
The client's antiviral was currently in phase 3 clinical trials for another infectious disease indication, with the client set to use human challenge to assess the efficacy of the drug candidate against RSV "quickly and efficiently".
Open Orphan said the repeat business from the "top five" global pharmaceutical company underlined its expertise and ability to attract additional contracts from existing big pharma clients.
"We're delighted to be working with this top five global pharmaceutical client again to test their antiviral candidate using the hVIVO RSV human challenge study model," said chief executive officer Mo Khan.
"I am especially proud that our world-class offering and customer service has secured repeat business from another big pharma client, and that we are seen as the 'go-to' partner for an increasing number of global drug developers.
"The client's drug has already been shown to be an effective antiviral in certain disease indications, and we're pleased to now test its efficacy against RSV infection."
At 1516 BST, shares in Open Orphan were up 2.04% at 12.5p.
Reporting by Josh White at Sharecast.com.
