REG - hVIVO PLC - £3.2m hLAB project

hVIVOAnnouncement

21/01/2025 07:00

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RNS Number : 0221U  hVIVO PLC  21 January 2025

hVIVO plc

("hVIVO", the "Company" or the "Group")

 

£3.2m hLAB project

Largest standalone lab contract signed to date

 

hVIVO plc (AIM: HVO), a fast-growing specialist contract research organisation
(CRO) and world leader in testing infectious and respiratory disease products
using human challenge clinical trials, announces that hLAB, the Group's
standalone virology and immunology laboratory service provider, has signed a
new £2.7m contract with a US-based biotechnology client bringing the total
value of this project to date to £3.2m.

 

As part of this new contract, hLAB will act as the only contracted virology
lab for an international, multi-site Phase 2 field study for the US
biotechnology client's influenza drug candidate. Study work will commence
immediately and hLAB will provide virology and immunology lab services across
the 5,000 subjects recruited in this trial. Although hVIVO has provided
virology and immunology laboratory services for its internal challenge trials
for over 20 years, this is the largest standalone laboratory services contract
signed by the Company to date. The majority of the revenue from this contract
is expected to be recognised in 2025 with the remainder in 2026. The earlier
contract commenced in H2 2024.

 

hLAB is an industry leader in virology and clinical trial support and has over
20 years of experience performing testing for the Group's quarantine studies
and other client contracted studies. Following hVIVO's move to its new
facility at Canary Wharf, the Company has tripled its laboratory capacity and
now offers specialised virology and immunology services for preclinical and
clinical drug development as standalone services. This includes assay
development, transfer and optimisation, as well as sample handling and
processing via its biobank facility.

 

Yamin 'Mo' Khan, CEO of hVIVO, said: "It is wonderful to see hLAB secure its
largest contract to date, following the launch of its standalone services in
September 2024. hLAB is highly specialised and a leader in its field with over
20 years' experience in infectious and respiratory disease drug development.
This contract underlines another benefit of the move to the Group's new Canary
Wharf facility, with the additional lab capacity enabling hLAB to service
standalone contracts in addition to our human challenge trial work, as well as
offering field studies. These services support the Group's 'optimise, scale
and diversify' growth strategy, by leveraging our existing infrastructure and
staff to provide a high-margin new revenue stream."

 

 For further information please contact:

 

 hVIVO plc                                       +44 (0)20 7756 1300
 Yamin 'Mo' Khan, Chief Executive Officer

 Stephen Pinkerton, Chief Financial Officer

 Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)                  +44 (0)20 7220 0500
 Geoff Nash, Camilla Hume, Harriet Ward

 Nigel Birks - Life Science Specialist Sales

 Louise Talbot - Sales

 Peel Hunt LLP (Joint Broker)                                        +44 (0)20 7418 8900
 James Steel, Dr Christopher Golden

 Davy (Joint Broker)                                                 +353 (0) 1 679 6363
 Anthony Farrell, Niall Gilchrist

 Walbrook PR (Financial PR & IR)                 +44 (0)20 7933 8780 or hvivo@walbrookpr.com

 Paul McManus / Phillip Marriage /               +44 (0)7980 541 893 / +44 (0)7867 984 082 /

Louis Ashe-Jepson
+44 (0)7747 515 393

 

 

Notes to Editors

 

hVIVO plc (http://www.hvivo.com) (ticker: HVO) is a fast-growing specialist
contract research organisation (CRO) and the world leader in testing
infectious and respiratory disease vaccines and therapeutics using human
challenge clinical trials. The Group provides end-to-end early clinical
development services to its large, established and growing repeat client base,
which includes four of the top 10 largest global biopharma companies.

 

The Group's fast-growing services business includes a unique portfolio of 11
human challenge models, with a number of new models under development, to test
a broad range of infectious and respiratory disease products. The Group has
world class challenge agent manufacturing capabilities, specialist drug
development and clinical consultancy services via its Venn Life Sciences
(https://www.vennlifesciences.com/) brand, and a lab offering via its hLAB
(https://hlabservices.com/) brand, which includes virology, immunology
biomarker and molecular testing. The Group also offers additional clinical
field trial services such as patient recruitment and clinical trial site
services.

 

hVIVO runs challenge trials in London - its new state-of-the-art facilities
in Canary Wharf opened in 2024 and is the world's largest commercial human
challenge trial unit, with highly specialised on-site virology and immunology
laboratories, and an outpatient unit. To recruit volunteers / patients for its
studies, the Group leverages its unique clinical trial recruitment capability
via its FluCamp (http://www.flucamp.com/) volunteer screening facilities
in London and Manchester.

 

 

 

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