Tuesday 21 January 2020

Open Orphan signs 'significant' revenue generating contract

Open Orphan is headed up by CEO Cathal Friel
Open Orphan is headed up by CEO Cathal Friel
Ellie Donnelly

Ellie Donnelly

Open Orphan, a Europe-focused pharma services company specialising in rare disease and so-called orphan drugs, has signed a contract with a German-based research-driven pharmaceutical company.

Open Orphan said the contract guarantees “significant” annual income, with work under the deal to commence this month.

This contract will see Venn Life Sciences, part of Open Orphan, build upon its existing relationship with the German company with a new three year consultancy for Pharmacokinetic (PK) analysis.

Pharmacokinetics is a branch of pharmacology that is dedicated to determining the fate of substances administered to the human body, and PK models help pharmaceutical companies to decide upon dosage and potential adverse effects in new drugs under development.

The deal represents an extension of the relationship between the two firms, continuing the work currently undertaken by Venn providing support in clinical trial data analysis, as well as earlier stage projects.

Cathal Friel, chief executive of Open Orphan, said: "This new contract is further evidence of Open Orphan delivering against one of its key objectives, transforming Venn by transitioning from ad-hoc short-term contracts to long-term contracts with high quality customers thereby delivering secured recurring revenues for the business.”

Last month Open Orphan and UK-based Hvivo agreed the terms of a merger.

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