Open Orphan secures study trial contract with mystery pharmaceutical company
Pharmaceutical services company Open Orphan has scored a £4.0m contract with an unnamed top-three global pharmaceutical company to be the sponsor of and provide a respiratory syncytial virus human challenge study trial.
Open Orphan said the new contract represented the continued conversion of its substantial pipeline and generation of significant cash flow.
The AIM-listed group added that the study would take place in subsidiary hVIVO's London-based quarantine unit and was expected to be completed by the end of the first quarter of 2021.
Chairman Cathal Friel 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."
As of 1020 BST, Open Orphan shares were up 4.84% at 14.08p.