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Open Orphan PLC on Tuesday said its subsidiary hVIVO Ltd has won a £7.2 million contract, marking the company's third win since May 18.
The London-based pharmaceutical services firm said that the contract has been signed with an ‘existing top 5 global pharmaceutical company’. The study is expected to start next year.
Clinical research company hVIVO are contracted to test its orally administered antiviral product, using its respiratory syncytial virus human challenge study model.
The Phase 2a double-blinded placebo-controlled human challenge study will take place in Open Orphan's quarantine facilities in Whitechapel.
Open Orphan said revenue from the contract is expected to be recognised across its 2022 and 2023 financial years.
The news follows hVIVO winning two other contracts since May 18. In total, the three contracts are worth £29.2 million.
Chief Executive Yamin Khan said: ‘We're delighted to be working with this top 5 global pharmaceutical client again to test their antiviral candidate using the hVIVO RSV human challenge study model.
‘I am especially proud that our world-class offering and customer service has secured repeat business from another Big Pharma client, and that we are seen as the 'go-to' partner for an increasing number of global drug developers,’ Khan added.
Shares in Open Orphan were up 3.4% to 12.67 pence each in London on Tuesday afternoon.
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