Open Orphan PLC Update on antibody test and share price movement (1282N)
18 Maggio 2020 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 1282N
Open Orphan PLC
18 May 2020
18 May 2020
Open Orphan plc
("Open Orphan" or the "Company")
Update on antibody test agreement and recent share price
movement
Open Orphan plc (ORPH) the rapidly growing specialist CRO
pharmaceutical services company which has a focus on orphan drugs
and is the world leader in the testing of vaccines and antivirals
using human challenge study models, notes the increase in the
Company's share price and media comment regarding its collaboration
with Quotient Limited. Furthermore, it also notes the substantial
increase in interest in antibody testing for Covid-19 following
recent announcements by the UK Government.
The Company confirms that the MosaiQ COVID-19 Antibody
Microarray machine is on site at hVivo's laboratory in East London
and is undergoing testing. It is expected to be fully operational
within two weeks following which it will have capability to
undertake up to 3,000 tests a day, in line with expected
performance as stated by Quotient Limited. The Company intends to
enter into discussions with channel partners to secure testing
volumes with pricing to be determined as part of these
negotiations. It is not the company's intention to deal directly
with consumers and while there can be no certainty on pricing until
such time as terms are agreed, the Company notes current market
prices ranging from c.GBP70 for home testing kits and upwards
towards c.GBP150. It is the intention to supply testing capability
to channel partners, who will in turn deal with the end users and
the final price points. The Company will update shareholders in due
course.
Further information on the Company's approach to Covid-19
antibody testing and vaccine trials is available on the Company's
website
ENDS
For further information please contact
Open Orphan plc
+353 (0)1 644
Cathal Friel, Executive Chairman 0007
Arden Partners plc (Nominated Adviser and +44 (0)20 7614
Joint Broker) 5900
John Llewellyn-Lloyd / Benjamin Cryer
+44 (0)20 7220
finnCap Ltd (Joint Broker) 0500
Geoff Nash /James Thompson/Richard Chambers
+353 (0)1 679
Davy (Euronext Growth Adviser and Joint Broker) 6363
Anthony Farrell
+44 (0)20 3757
Camarco (Financial PR) 4980
Tom Huddart / Hugo Liddy
Notes to Editors:
Open Orphan is a rapidly growing specialist CRO pharmaceutical
services company which has a focus on orphan drugs and is a world
leader in the provision of virology and vaccine challenge study
services and viral laboratory services. It has Europe's only
24-bedroom quarantine clinic with onsite virology lab in Queen
Mary's Hospital London. hVIVO supports product development for
customers developing antivirals, vaccines and respiratory
therapeutics, all particularly relevant and topical in the
environment of heightened awareness of Covid-19 in 2020. The
Company also has a leading portfolio of 8 viral challenge study
models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD
viral challenge models. As announced in early March, Open Orphan is
rapidly advancing a Coronavirus challenge study model and expects
to be very active with many companies in the development of a
Covid-19 vaccine. No other company in the world has such a
portfolio, with only two competitors globally having 1 challenge
study model each.
Open Orphan comprises of two commercial specialist CRO services
businesses (Venn and hVIVO) and is developing an early stage orphan
drug genomics data platform business. This platform captures
valuable genetic data from patient populations with specific
diseases with designated orphan drug status and incorporating AI
tools. In June 2019, Open Orphan acquired AIM-listed Venn Life
Sciences Holdings plc in a reverse take-over and in January 2020 it
completed the merger with hVIVO plc. Venn, as an integrated drug
development consultancy, offers CMC (chemistry, manufacturing and
controls), preclinical, Phase I & II clinical trials design and
execution. The merger with hVIVO created a European full pharma
services company broadening the Company's customer base and with
complementary specialist CRO services, widened the range of the
Company's service offerings.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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