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Open Orphan signs contract worth £4m

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Cathal Friel, chairman of Open Orphan

Cathal Friel, chairman of Open Orphan

Cathal Friel, chairman of Open Orphan

Dublin-listed Open Orphan has signed a contact with a global pharmaceutical company to carry out a respiratory syncytial virus (RSV) human challenge study trial.

The contract is valued at £4m (€4.4m).

Hvivo, part of Open Orphan, will conduct the tests.

The study will take place in Hvivo’s London-based quarantine unit and is expected to be completed early next year.

Cathal Friel, chairman of Open Orphan, said: "This is another exciting new contract win with a new customer for Open Orphan's subsidiary Hvivo as we convert the substantial pipeline that is building up within the company.

As a group we are focused on winning and delivering high-quality, profitable contracts and this is another example of our delivery against that strategy."

Europe-focused Open Orphan specialises in rare disease and so-called orphan drugs - treatments developed 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.

In May, Open Orphan raised £12m (€13.4m) via an oversubscribed share placing.

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