Open Orphan Divests Remaining 3.1% Stake In Integumen

(Alliance News) - Open Orphan PLC has netted over GBP500,000 after selling the rest of its shares in skin-care firm Integumen PLC, Open Orphan said on Friday.

The sale of the 30.1 million shares took place on July 1, and will allow Open Orphan to focus resources on creating an orphan drug platform, it said.

Open Orphan resumed trading in London in late June, having previously been called Venn Life Sciences Holdings PLC. It was created by the merger of Venn Life Sciences and Open Orphan DAC.

It will be targeting the "fragmented" orphan drug services market in Europe, which it said at the time is one of the fastest growing spheres in the pharmaceutical industry.

Open Orphan shares were up 8.5% on Friday at midday at 8.00 pence each, with Integumen up 1.4% at 2.08p.