Dublin-listed Open Orphan has opened a new quarantine clinic in London.
The new site is based in Whitechapel, directly opposite the Queen Mary BioEnterprise Innovation Centre (QMB) which is home to Hivivo’s – a subsidiary of Open Orphan – 24 bedroom FluCamp site.
The Whitechapel Clinic will act as an extension of Hvivo’s current QMB site.
The new facility has the capacity for up to 19 quarantine rooms and will be used as an additional unit for human challenge trials and volunteer recruitment screening.
Cathal Friel, executive chairman of Open Orphan said: "Our newest quarantine unit greatly increases our capacity to facilitate Hvivo's pipeline of upcoming studies.
Our QMB clinic is now close to full capacity until December 2021, and as such, the newly renovated, state of the art Whitechapel Clinic will allow us to increase our study capacity substantially in the year ahead.”
Also on Wednesday, Open Orphan said it has received notice of exercise of warrants by investors who participated in the Venn loan note financing in December 2018.
In 2019 Open Orphan acquired Venn Life Sciences in a reverse takeover.
The total amount of this exercise is £19,653.91 (€22,291). The 2018 Venn loan note has now been fully repaid and the current outstanding debt and loans owed by Open Orphan is £319,000 (€361,808).
Europe-focused Open Orphan specialises in rare disease and so-called orphan drugs – treatments for medical conditions which, because they are so rare, few pharmaceutical companies pursue research into.
The company was founded in 2017 with the aim of becoming a leading specialist contract research pharmaceutical services business.
Open Orphan and its subsidiaries have completed 860 studies in the past five years.
As at 27 October last year the company had cash of £21.5m (€24.3m).
Open Orphan has offices in London, Dublin, Paris, and Breda in the Netherlands.
The company completed its IPO on the Dublin and London Stock Exchanges in June 2019 via the reverse takeover of Venn Life Sciences raising £4.5m (€5m) at 5.6p.