REG - hVIVO PLC - Plans for a new larger state-of-the-art facility

hVIVOAnnouncement

29/08/2023 07:00

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RNS Number : 5204K  hVIVO PLC  29 August 2023

hVIVO plc

("hVIVO" or the "Company")

 

Plans for a new larger state-of-the-art facility to meet growing demand

 

·    Capacity increase to 50 quarantine beds with optionality to expand to
70

·    Expansion of laboratory services to include cutting edge labs

·    Largely funded by multiple hVIVO clients

 

hVIVO plc (AIM & Euronext: HVO), the world leader in testing infectious
and respiratory disease products using human challenge clinical trials,
announces its plans for a new consolidated facility at the fast-growing life
sciences hub in Canary Wharf, London. The expansion, largely funded by hVIVO
clients, comes in response to the Company's growing orderbook and increasing
demand for its human challenge trial services.

 

A world class facility with further expansion capability

The upcoming state-of-the-art facility will serve as a comprehensive site,
housing quarantine bedrooms, advanced laboratories, an outpatient unit, and
corporate offices, all conveniently spread across two floors. The facility
will contain 50 quarantine beds, with potential expansion capabilities to
accommodate up to 70 quarantine beds in the future. This highly secure and
specialised facility will also enable hVIVO to conduct even more challenge
trials concurrently. Additionally, the on-site outpatient unit will facilitate
Phase II and III field trials. The cutting-edge virology and immunology
laboratories will significantly increase sample throughput and diversify
hVIVO's services, expanding its capacity to work with a broader range of
pathogens.

 

Timely completion and seamless transition

The new facility's first phase is anticipated to reach completion in Q1 2024,
with the full site expected to be operational by Q2 2024. hVIVO's current
Whitechapel and Queen Mary Bioenterprises Centre (QMB) clinics will close in
2024 but will remain fully operational throughout this transition, ensuring
uninterrupted service delivery to the Company's clients. Additionally, hVIVO's
Plumbers Row and Manchester FluCamp screening facilities and outpatient unit
will continue to serve as convenient locations for prospective volunteers.

 

Positive financial impact and optimised operations

The increase in demand from multiple clients seeking to accelerate their
studies and preparedness for potentially larger challenge trials has resulted
in a significant level of customer-led funding for the new facility. While
maintaining a similar cost-per-bed as the current facilities, the new
facility's layout will consolidate all quarantine beds onto a single floor
within one building. The increased capacity will enable hVIVO to maximise
revenue through the utilisation of more beds and the provision of additional
services. Moreover, centralising quarantine beds and laboratories in a single
location will optimise staff utilisation, achieve operational cost savings,
and improve overall efficiency and productivity.

 

Advancing research in infectious and respiratory diseases

This strategic relocation to a larger and more sophisticated facility
underscores hVIVO's commitment to advancing research in infectious and
respiratory diseases. By leveraging highly secure and specialised
state-of-the-art infrastructure and expanding its capabilities, hVIVO aims to
make significant strides in the field of human challenge clinical trials.
Additionally, the new facility is expected to contribute positively to the
Company's Environmental, Social, and Governance (ESG) goals.

 

Yamin 'Mo' Khan, Chief Executive Officer of hVIVO, said: "I am excited to
share the news of our upcoming relocation to a new larger state-of-the-art
facility. The new facility will feature increased capacity and offer the
potential for up to 70 quarantine beds, which will enable us to increase the
capacity for the Company to generate revenues. The new facility will also
allow us to conduct a greater number of trials concurrently across various
challenge models enabling the Company to maintain a higher level of capacity
throughout the year. Furthermore, we will expand our laboratory capability,
facilitating the broadening of our service offerings. Consolidating our
operations into a single location will lead to improved operational
efficiencies, ultimately enhancing our profit margins.

 

"We have exercised prudent financial management throughout this expansion, and
I am pleased that a number of our clients have contributed to its funding.
Their support underscores the urgency and importance of accelerating drug
development, and the crucial role that human challenge trials are increasingly
playing in the development of new vaccines and antivirals. Our mission to
deliver today's healthcare by empowering tomorrow's innovation takes a leap
forward."

 

For further information please contact:

 

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

 Stephen Pinkerton, Chief Financial Officer

 Liberum Capital (Nominated Adviser and Joint Broker)                       +44 (0) 20 3100 2000
 Ben Cryer, Edward Mansfield, Phil Walker, Will King

 finnCap plc (Joint Broker)                                                +44 (0) 20 7220 0500
 Geoff Nash, Charlie Beeson, Nigel Birks, Harriet Ward (ECM)

 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

 

Notes to Editors

 

About hVIVO

 

hVIVO (http://www.hvivo.com) plc (ticker: HVO) (formerly Open Orphan plc) is a
rapidly 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 Company has
world class challenge agent manufacturing, 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 studies in London from its Whitechapel quarantine
clinic, its state-of-the-art QMB clinic with its highly specialised on-site
virology and immunology laboratory, and its clinic in Plumbers Row. To recruit
volunteers / patients for its studies, the Company leverages its unique
clinical trial recruitment capability via its FluCamp
(https://eur05.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.flucamp.com%2F&data=05%7C01%7CCarol.Dalton%40openorphan.com%7Cfb9f1a50aaa9492d81ed08da875cca71%7C131abc777e104bbd90170559abc5d601%7C1%7C0%7C637971129881295595%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=fQdtQTHu9Bo70yRgWcZW5liNTXPYiWl9YayUA01E%2FlA%3D&reserved=0)
 volunteer screening facilities in London and Manchester.

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