LONDON (Alliance News) - Venn Life Sciences Holdings PLC Tuesday expressed confidence for its future and reiterated its expectations for significant revenue gains in the second half of 2014.
In a statement ahead of its annual general meeting, the company said it was pleased by the progress made by innovation division Innoven following its acquisition of technology from Evocutis PLC.
It was granted its first skin science patent from the European Patent Office last month, and has begun commercial discussions regarding the Labskin intellectual property. It expects this to lead to additional revenue flows later in the year.
Venn Life Sciences said it had made progress in the scale and quality of its potential deal flow pipeline, securing a "significant" clinical trial management agreement last month worth over EUR3 million, covering seven European countries. The company said this contract endorsed its switch in focus from small, single-country projects to larger multi-centred projects.
Shares in Venn were trading up 8.8% at 20.50 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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