(Alliance News) - hVIVO PLC on Tuesday said it signed a contract worth GBP6.3 million to test a potential treatment for the common cold.
hVIVO is a London-based specialist contract research organisation that tests for infectious and respiratory vaccines.
The deal, which was signed with an unnamed biotechnology customer, will test its antiviral candidate using the hVIVO human rhinovirus human challenge study model.
It will "evaluate the effect of the antiviral candidate on viral load, safety, tolerability, and prophylactic antiviral activity against HRV infection in multiple cohorts of healthy volunteers," hVIVO said.
The study will begin in the second half of 2024. hVIVO will recruit volunteers to participate in the study.
HRV is a pathogen that causes the common cold. According to hVIVO, HRV infections can be "potentially serious" for the elderly, immunocompromised people and those who suffer from respiratory diseases.
Chief Executive Officer Yamin Khan said: "We are delighted to be partnering with this biotech client to investigate the use of their antiviral candidate against HRV. Our human challenge trials can provide quick efficacy data, that has the potential to significantly enhance the value of our clients' assets, something which is critical in the current tight biotech investment landscape."
Shares in hVIVO were up 7.1% at 25.44 pence each in London on Tuesday morning.
By Sabrina Penty, Alliance News reporter
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hVIVO (HVO)