Open Orphan PLC Contract signed with Carna Bioscience (6487T)
18 Novembre 2019 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 6487T
Open Orphan PLC
18 November 2019
18(th) November2019
Open Orphan plc
("Open Orphan" or the "Company")
Open Orphan signs contract with Carna Bioscience
Open Orphan, a European-focussed, rare and orphan drug
consulting services platform, is pleased to announce the signing of
a contract with Carna Bioscience ("Carna") (www.carnabio.com)for a
First In Human Clinical pharmacology trial. The contract is
expected to deliver significant revenue for the Company over the
next twelve months. Carna is a Japanese company specialising in
kinase biology, developing innovative treatments against cancer and
immune disorders.
This contract sees Venn Life Sciences ("Venn"), part of Open
Orphan plc, provide Carna with a range of expertise from Chemistry
Manufacturing and Controls to Clinical Trial Management as well as
biometry, legal and regulatory support.
This new contract builds upon several years of existing work
between Venn and Carna during which both parties closely
collaborated on drug development planning and pre-clinical
activities services contracts.
The contract is further evidence of Open Orphan's strategy to
secure long-term partnership contracts which deliver recurring
revenues for the business by working in close collaboration with
high quality customers.
Cathal Friel, Chief Executive of Open Orphan commented:
"This contract is further evidence of delivering against one of
Open Orphan's key objectives, transforming Venn. The contract is an
exciting one as we are now providing a much broader range of
pharmaceutical services and the Venn team have managed to
transition the provision of its initial pre-clinical consultancy
services to Carna into a formal Phase 1 Clinical Trial. We look
forward to delivering the contract for Carna Bioscience and I look
forward to announcing more positive news in due course."
Enquiries:
Open Orphan plc Tel: +353 1 644 0007
Cathal Friel, Chief Executive Officer
Arden Partners (Nominated Adviser and Joint Broker) Tel: +44
(0)20 7614 5900
John Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer
Davy (Euronext Growth Adviser and Joint Broker) Tel: +353 (0)1
679 6363
Anthony Farrell (Corporate Finance)
Camarco (Financial PR) Tel: +44 (0)20 3757 4980
Tom Huddart / Dan Sherwen
Notes to Editors on Open Orphan:
Open Orphan plc is a European-focused, rare and orphan drug
consulting services platform. The Company intends to roll up a
number of orphan drug services businesses. Open Orphan has two data
driven digital platforms, a Genomic Health Data Platform, which is
establishing a rare disease database and a Virtual Rep platform
enabling pharmaceutical companies to engage key opinion leaders and
physicians. The Company is targeting rapid growth in one of the
fastest growing sectors in the global pharmaceutical industry
targeting under-supplied treatment for life threatening or very
serious diseases and rare disorders.
Notes to Editors on Carna Biosciences Inc:
Carna Biosciences is a biopharmaceutical company focused on the
discovery and development of kinase inhibitor drugs to treat
serious unmet medical needs in oncology, autoimmune and
neurological diseases by inhibiting kinases that are important
drivers for those diseases. Carna Biosciences was founded in Kobe,
Japan, in 2003 as a spinoff of Japan Organon (Nippon Organon KK).
Carna's initial focus was to develop an extensive number of
state-of-the-art, highest quality reagents for kinase drug
discovery, and has since established a leading drug discovery
program with a significant collection of proprietary chemical
libraries. For more information, please visit www.carnabio.com.
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contact rns@lseg.com or visit www.rns.com.
END
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