Open Orphan plc (LON:ORPH), a rapidly growing specialist CRO pharmaceutical services company which is the world leader in the testing of vaccines and antivirals using human challenge clinical trials announces the signing of a new contract with Carna Bioscience for a First In Human Clinical pharmacology trial. The contract is expected to deliver significant revenue for Venn Life Sciences over the next twelve months.
The contract sees the Breda, the Netherlands office of Venn, a subsidiary of ORPH, provide Carna with a range of expertise such as PK/PD analysis and other services related to early clinical development. Carna is a Japanese company specialising in kinase biology, developing innovative treatments against cancer and immune disorders. This new contract builds upon several years of existing work during which both parties closely collaborated on drug development planning and pre-clinical activities.
In recent weeks, Venn’s CMC team which is also based in Breda have won a contract extension to continue a Dutch biotech on CMC until at least the end of the year.
Both contracts are further evidence of the company’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, Executive Chairman of Open Orphan, said:
“This new contract with Carna further extends our relationship and demonstrates our ability to successfully service clients, resulting in repeat business. We look forward to carrying out this contract over the next year as we deliver on our strategy of generating recurring revenue through long term, service contracts.”