LONDON (Alliance News) - Venn Life Sciences Holdings PLC said Tuesday that it had signed a USD1.2 million deal to conduct a Phase IV clinical trial with an undisclosed pharmaceutical company specialising in allergic diseases.
The company said that the addition of services from its acquisition of French clinical research organisation Cardinal Systems SAS in August had been an "instrumental factor" in securing the contract.
It will run the study over 70 sites across Europe, and plans to recruit 300 patients.
Venn said that the contract takes the total level of new business it has won since May to USD6.6 million, and demonstrates its ability to win larger value multi-site contracts across Europe.
"I believe this represents an early endorsement of our decision to acquire data management and IRS capabilities and we are greatly encouraged by the pipeline for our new full service offering," said Chief Executive Tony Richardson in a statement.
Shares in Venn are trading down 1.4% at 18.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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