REG - hVIVO PLC - Influenza 2b field study contract

hVIVOAnnouncement

02/07/2024 07:15

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RNS Number : 6960U  hVIVO PLC  02 July 2024

hVIVO plc

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

 

Phase 2b Influenza Field Study Contract

 

Highlights

·    hVIVO to enrol up to 1,000 healthy volunteers as part of a
multicenter field study testing an influenza drug candidate, with hVIVO
selected as the sole UK clinical site

·    Largest field study contract supporting a new income stream

·    Expected to improve staff utilisation and leverage in-house volunteer
recruitment platform

·    Expansion of Plumbers Row outpatient unit to support future Phase II
and Phase III field studies

 

hVIVO plc (AIM & Euronext: 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 it has been engaged for a Phase 2b field study assessing an influenza
candidate. This contract is with a US company ('the client') and will commence
later this year with hVIVO enrolling up to 1,000 healthy volunteers as part of
a multicenter study with hVIVO being selected as the sole UK clinical site.

 

As part of the randomised, double-blind, placebo-controlled, multicenter dose
selection study, hVIVO will enroll healthy volunteers via the Company's
dedicated volunteer recruitment arm, FluCamp (https://flucamp.com/) .
Participants will be administered with either the influenza drug candidate or
a placebo at hVIVO's Plumbers Row site. Participants will then be free to
leave the facilities, where they will then be monitored over the following
months, with regular clinical check-ups, to assess the efficacy and safety of
the candidate. The study is expected to begin in Q4 2024, with the majority of
the revenue from the contract expected to be recognised in FY 2025.

 

As part of hVIVO's move to Canary Wharf, the Company initiated plans to
convert its former corporate office at Plumbers Row into an expanded
outpatient unit, increasing the existing outpatient capacity at Plumbers Row.
This expansion will support future Phase II and Phase III field study
contracts, aligning with the Company's strategic focus on diversifying its
revenue streams.  hVIVO anticipates its new complementary services, such as
Phase II and Phase III field studies, will positively impact its growth and
margins by improving staff utilisation and leveraging its in-house volunteer
recruitment platform, FluCamp.

 

Yamin 'Mo' Khan, Chief Executive Officer of hVIVO, said: "I am delighted to
sign this field study contract to assess the efficacy and safety of our
client's influenza drug candidate. This is our largest field study contract to
date, further evidencing the recognition we have earned for our highly
effective recruitment capabilities and also opens up a new growth opportunity
for the Group. This project comes at a time when we are in the process of
expanding our screening site in London to accommodate these types of studies.
Our achievements in recruiting large numbers of volunteers and patients into
clinical studies was a key reason for this award. This is an important facet
of our growth strategy that will diversify our revenue base whilst using our
existing resources and infrastructure."

 

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, Charlie Beeson, Nigel Birks, Harriet Ward

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

 Davy (Euronext Growth Adviser and 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

 Stephanie Cuthbert / Phillip Marriage /         +44 (0) 7796 794 663 / +44 (0) 7867 984 082 /

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

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
("MAR") EU no.596/2014. Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

 

Notes to Editors

 

About hVIVO

 

hVIVO plc (http://www.hvivo.com) (ticker: HVO) (formerly Open Orphan plc) 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
brand, and a lab offering via its hLAB brand, which includes virology,
immunology biomarker and molecular testing. The Group 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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