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Open Orphan #ORPH – Appointment of Group Chief Financial Officer

Open Orphan, the rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs and is a world leader in the provision of virology and vaccine challenge study services, and has Europe’s only 24 bedroom quarantine clinic with onsite virology lab in Queen Mary’s Hospital London, is pleased to announce the appointment of Leo Toole to the role of Group Chief Financial Officer with immediate effect. Leo was previously Interim Chief Financial Officer of Open Orphan plc and Finance Director of the Open Orphan division following the merger with hVIVO.

It is Open Orphan’s intention that Leo be appointed to the Board of Open Orphan as soon as possible, subject to the satisfactory completion of regulatory due diligence checks.

Leo Toole brings over 20 years’ experience in senior finance roles in Pharmaceuticals, Medical Technology and FMCG sectors. He has held senior finance positions at Procter and Gamble, ResMed and Sublimity Therapeutics. Through positions in multinational companies across Europe and in the venture capital space in the UK and Ireland, he has extensive experience in building finance teams, corporate development, equity and debt financing, public markets, and mergers and acquisitions. Leo is a Business graduate of Trinity College Dublin, Ireland and HEC Liège, Belgium. He also holds an MBA with Distinction from INSEAD in France and Singapore.

Commenting on the appointment, Trevor Phillips, CEO of Open Orphan said:

“We are pleased to confirm Leo as the permanent CFO of Open Orphan. Leo brings relevant industry experience and public market experience to the Company and we look forward to him joining the PLC board upon the completion of his regulatory due diligence checks.”

Cathal Friel, Executive Chairman of Open Orphan said:

“I am delighted that we have appointed Leo as CFO. He has worked with Open Orphan for the past year and is therefore well placed to assist with the rapid integration of hVIVO, deliver on our synergies programme and target profitability in the near term. We feel he is an important addition the executive team as we target the rapidly growing CRO pharmaceutical services sector.”

For further information please contact:

Open Orphan plc

Cathal Friel, Executive Chairman

Trevor Phillips, Chief Executive Officer

+353 (0)1 644 0007

+44 (0)20 7347 5350

Arden Partners plc (Nominated Adviser and Joint Broker)

John Llewellyn-Lloyd / Benjamin Cryer

+44 (0)20 7614 5900

Davy (Euronext Growth Adviser and Joint Broker)

Anthony Farrell

+353 (0)1 679 6363

Camarco (Financial PR)

Tom Huddart / Daniel Sherwen

+44 (0)20 3757 4980

Notes to Editors:

Open Orphan is a rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs and is a world leader in the provision of virology and vaccine challenge study services and viral laboratory services. It has Europe’s only 24-bedroom quarantine clinic with onsite virology lab in Queen Mary’s Hospital London. hVivo supports product development for customers developing antivirals, vaccines and respiratory therapeutics, all particularly relevant and topical in the environment of heightened awareness of the Corona virus in 2020. The company also has a leading portfolio of 8 viral challenge study models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 Chronic Constructive Pulmonary Disease viral challenge models. No other company in the world has such a portfolio, with a Belgian company having 1 and one with the west coast of America also having 1 challenge study model. Open Orphan comprises of two commercial specialist CRO services businesses (Venn and hVIVO) and is developing an early stage orphan drug genomics data platform business capturing valuable genetic data from patient populations with specific diseases with designated orphan drug status and incorporating AI tools. In June 2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings plc in a reverse take-over and in January 2020 it completed the Merger with hVIVO plc. Venn, as an integrated drug development consultancy, offers CMC (chemistry, manufacturing and controls) , preclinical, phase I & II clinical trials design and execution., The Merger with hVIVO created a European full pharma services company broadening the Company’s customer base and with complementary specialist CRO services, widened the range of the Company’s service offerings.

Vox Markets Q&A with Open Orphan #ORPH Exec Chairman Cathal Friel

Open Orphan #ORPH Exec Chairman Cathal Friel discusses the completion of the hVIVO acquisition and provides an update on activities with Abraham Darwyne at Vox Markets.

LSE interview – Cathal Friel refocuses Open Orphan #ORPH as he raises 5m and buys virology specialist hVIVO

In a wide-ranging interview with London South East, Open Orphan Executive Chairman Cathal Friel outlines his vision for the business and explains how the combined talents of Open Orphan, hVivo and Venn Life Sciences will create a soon to be profitable pharmaceutical services one-stop shop.

Friel says this acquisition is the last however, as he is a major shareholder and he doesn’t want to see his own shareholding diluted along with everyone elses. The focus has been on reducing head count and building revenues at Venn Life Sciences since the Open Orphan IPO last June. Now, with the £13M bolt-on acquisition of hVivo, the London-based virology specialist company, the game has changed once again.

Friel says he sees hVivo as a loss-making and hugely undervalued asset. hVIVO went from being a vaccines and virology specialist to a drugs discovery business five years ago, with Neil Woodford and other investors putting in 113m of investment. “I really like Trevor Phillips and Tim Sharpington who came in 18 month ago to turn it around. But the previous management team got lost and we have picked up a bargain”. So how much are the assets worth today? “It’s very hard to say” explained Cathal, “113M in five years is a lot to spend but you can’t blow it all.

We have a 24 bed quarantine clinic facility which is worth 25 million or so on replacement value, we have a virology lab with the world’s largest stock of virology models likewise worth 25 million, and 7 or 8 million, so we 50 or 60 million of real assets”.

Open Orphan #ORPH presents at Shares Growth and Invention Forum, London

Open Orphan, the rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs and is a world leader in the provision of virology and vaccine challenge study services, is pleased to announce that the Company will be attending and presenting at the Shares Growth and Invention Forum on February 11, 2020 at Business Design Centre, London N1, London, N1 0QH. Cathal will be presenting at 15:30 in the Babbage Room. Investors are able to register to attend at https://ajbell.eventsair.com/gif-2020/private/Site/Register.

Cathal Friel, Open Orphan’s Executive Chairman will be presenting from 15:30 onwards to update existing and potential investors on the Company’s business plans for 2020.

The event will provide an opportunity for investors to hear about the progress being made by the Company following the acquisition of hVIVO and the potential for Open Orphan as it moves rapidly forward.  hVIVO, is a world leader in the provision of viral challenge studies, vaccine and viral laboratory services, supporting product development for customers developing antivirals, vaccines and respiratory therapeutics, all particularly relevant and topical in the environment of heightened awareness of the Coronavirus in 2020. It also has Europe’s only commercial 24 bed quarantine clinic and on-site virology laboratory at Queen Mary’s Hospital in London.

Additionally, a link to the video of Open Orphan’s presentation will be made available on the Company website following the event.

For further information on the Shares Investor Evening, please visit the event website https://www.sharesmagazine.co.uk/events/event/growth-innovation-forum-2020-1 

Investor Presentation

A link to our investor presentation is available on our website  at https://www.openorphan.com/sites/openorphan/files/Open%20Orphan%20Investor%20Deck_0.pdf.

For further information please contact

Open Orphan plc

Cathal Friel, Executive Chairman              

Trevor Phillips, Chief Executive Officer

 

+353 (0)1 644 0007

+44 (0)20 7347 5350

Arden Partners plc (Nominated Adviser and Joint Broker)

John Llewellyn-Lloyd / Benjamin Cryer

+44 (0)20 7614 5900

Davy (Euronext Growth Adviser and Joint Broker)

Anthony Farrell

+353 (0)1 679 6363

Camarco (Financial PR)

Tom Huddart / Daniel Sherwen

+44 (0)20 3757 4980

About RNS Reach announcements

This is an RNS Reach announcement. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

Notes to Editors:

Open Orphan is a rapidly growing European full pharmaceutical services company with a focus on orphan drug and specialist services, comprising two commercial specialist CRO services businesses (Venn and hVIVO) and a developing early stage orphan drug genomics data platform business capturing valuable genetic data from patient populations with specific diseases with designated orphan drug status and incorporating AI tools.  In June 2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings plc in a reverse take-over and in January 2020 it completed the Merger with hVIVO plc. Venn, as an integrated drug development consultancy, offers CMC (chemistry, manufacturing and controls) , preclinical, phase I & II clinical trials design and execution. hVIVO, is a world leader in the provision of viral challenge studies, vaccine and viral laboratory services, supporting product development for customers developing antivirals, vaccines and respiratory therapeutics, all particularly relevant and topical in the environment of heightened awareness of the Coronavirus in 2020. The Merger with hVIVO created a European full pharma services company broadening the Company’s customer base and with complementary specialist CRO services, widened the range of the Company’s service offerings.

BRR Media – Open Orphan #ORPH introduces Professor John Oxford

BRR Media introduces Open Orphan’s Professor John Oxford, consultant to the company and Virology expert. He discusses virology, and looks at recent virus epidemics, including influenza, AIDS, SARS and now Coronavirus. He explains how the hHIVO quarantine unit could play a key role in defeating Coronavirus...”This group (Open Orphan) is perfectly positioned, probably like no other, to move virology forward…particularly respiratory virology..”

Click on the image to watch

Open Orphan #ORPH – Upcoming Investor Events

Open Orphan (ORPH), the rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs and is a world leader in the provision of virology and vaccine challenge study services, is  pleased to announce that the Company will be attending and presenting at a series of investor events from the 11th February to 26th March 2020.

Cathal Friel, Open Orphan’s Executive Chairman, or Trevor Phillips, CEO, will be in attendance for all the events and will be presenting an update to existing and potential investors on the Company’s acquisition of hVIVO and business plans for 2020. hVIVO, is a world leader in the provision of viral challenge studies, vaccine and viral laboratory services, supporting product development for customers developing antivirals, vaccines and respiratory therapeutics, all particularly relevant and topical in the environment of heightened awareness of the Coronavirus in 2020. It also has Europe’s only commercial 24 bed quarantine clinic and on-site virology laboratory at Queen Mary’s Hospital in London.

A link to our investor presentation is available on our website  at https://www.openorphan.com/sites/openorphan/files/Open%20Orphan%20Investor%20Deck_0.pdf

No new material information will be disclosed at any event.

A full schedule of the upcoming events is as follows:

Event

Date/Time

Location

Shares Magazine/Cenkos Growth and Innovation Forum

February 11, 2020

08:45 – 17:30

London – Business Design Centre, London N1 52 Upper Street, Islington

 

ShareSoc Growth Company Seminar

February 25, 2020

18:00 – 20:40

 

Manchester – DoubleTree by Hilton Hotel, One Piccadilly Place, 1 Auburn Street, Manchester M1 3DG

Shares Magazine Investor Event

February 25, 2020

17:30 – 21:30

London – Novotel, Pepys Street, London

ShareSoc Growth Company Seminar

March 11, 2020

17:30 – 21:30

London – Company Matters/Link Asset Services, 65 GRESHAM STREET, London EC2V 7NQ

ShareSoc Growth Company Seminar

March 17, 2020

18:00 – 20:40

Birmingham – Clayton Hotel Birmingham, Albert Street, Birmingham B5 5JE

Proactive Investors One2One Forum

March 26, 2020

18:00 – 21:30

London – Chesterfield Mayfair Hotel, 35 Charles Street, London, W1J 5EB 

Enquiries:

Open Orphan plc                                                                                                            

Cathal Friel, Executive Chairman                                                                        +353 (0)1 644 0007

Trevor Phillips, Chief Executive Officer                                                              +44 (0)20 7347 5350

 

Arden Partners plc (Nominated Adviser and Joint Broker)                          +44 (0)20 7614 5900

John Llewellyn-Lloyd / Benjamin Cryer

 

Davy (Euronext Growth Adviser and Joint Broker)                                          +353 (0)1 679 6363

Anthony Farrell

 

Camarco (Financial PR)                                                                                           +44 (0)20 3757 4980

Tom Huddart / Daniel Sherwen

 

About RNS Reach announcements

This is an RNS Reach announcement. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

Notes to Editors:

Open Orphan is a rapidly growing European full pharmaceutical services company with a focus on orphan drug and specialist services, comprising two commercial specialist CRO services businesses (Venn and hVIVO) and a developing early stage orphan drug genomics data platform business capturing valuable genetic data from patient populations with specific diseases with designated orphan drug status and incorporating AI tools.  In June 2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings plc in a reverse take-over and in January 2020 it completed the Merger with hVIVO plc. Venn, as an integrated drug development consultancy, offers CMC (chemistry, manufacturing and controls), preclinical, phase I & II clinical trials design and execution.  hVIVO, as an industry leading services provider in viral challenge studies and vaccine and viral laboratory services, supports product development for customers developing antivirals, vaccines and respiratory therapeutics , all particularly relevant and topical in the environment of heightened awareness of the Coronavirus in 2020. The Merger with hVIVO created a European full pharma services company broadening the Company’s customer base and with complementary specialist CRO services, widening the range of the Company’s service offerings.

Proactive Investors interview with the Open Orphan #ORPH team on its future and ‘the lottery ticket’ sitting within hVIVO

Open Orphan PLC‘s (LON:ORPH) Cathal Friel speaks to Proactive London’s Andrew Scott following the completion last week of its £5.3mln fundraise.

Also in studio is adviser to Open Orphan and founder of hVivo Professor John Oxford.

Professor Oxford’s been a leader in the field of vaccine and anti-viral clinical trials for the last 20 years.

hVivo, which has recently been acquired by Open Orphan, owns the largest commercial quarantine clinic in northern Europe and could play a role in treating patients affected by the recent outbreak of coronavirus.

BRR Media – Open Orphan #ORPH business update

Cathal Friel, Executive Chairman of Open Orphan, provides an update on developments at the company following the successful fundraising, and also introduces Professor John Oxford – a leading expert in the field of virology and an original founder of hVIVO – who will be working with the company as a consultant.

Keeping pace with Open Orphan

It’s been an exceptionally busy few months for Open Orphan (ORPH) and its Executive Chairman Cathal Friel.

Since reversing into Venn Life Sciences last summer, Open Orphan has set it’s sights on a series of acquisitions to forge a specialist pharmaceutical services group with a focus on orphan drugs. In raising the money to complete the Venn Life Sciences and recent hVIVO acquisitions,  Friel has invested over £2m of his own money through his investment vehicle Raglan Capital into Open Orphan. His investments are locked in until three years after the IPO in June 2019.

In 2018, over 50% of new FDA approved drugs were classed as ‘orphan’, i.e. treat rare diseases.

With this in mind, Friel and his team have constructed a vehicle to acquire and consolidate a number of smaller companies into a larger profitable pharma services company. Within this there is Open Orphan Genomic Health Data, using AI tools to build a valuable database of patient information using a low cost data collection methodology.

In the run up to the end of 2019, ORPH struck several three year contract agreements and collaborations lucrative partnership agreements and collaborations, most notably with French pharma giant Ipsen Group, Japanese pharma company Carna and a Tier 1 German pharma company as part of moving the original Venn business away from short term ad-hoc contracts towards longer more sustainable contracts.

The acquisition promised at Open Orphan’s launch last summer came to fruition in December, when the company announced the acquisition of hVIVO, a world leader in the provision of viral challenge study services to companies developing vaccines for viruses.

The deal offered 2.47 shares for each hVIVO share, providing its shareholders with a 33% uplift. Open Orphan also broke the mould by moving fast in a slow moving sector as this takeover was recorded as one of the fastest in 7 years for the London market, completing as it did in just 38 days. More importantly, the economies of scale the merger delivers greatly broadens Open Orphan’s in-house clinical offering and opportunities to commercialise the existing deal pipeline.

Both Venn and more importantly hVIVO had been chronically loss making, however given the compelling synergies, the Open Orphan team led by Friel are optimistic that the enlarged Group will be profitable by June 2020 if not before.

To maximise on the opportunities generated by the acquisition, a further £5.3m fundraise was completed at the end of January 2020, conducted at a small premium to market price and with a minimum fundraise of £2.5m  once again underwritten by Friel’s investment vehicle. The raise was oversubscribed, predominantly funded by institutional investors and at a good premium to the IPO fundraise in June 2019. Added to this, Friel personally invested £300k.

As part of the hVIVO acquisition, Open Orphan now owns the largest quarantine facility in N Europe, with 24 quarantine bedrooms at Queen Mary’s Hospital in London.

As things currently stand, this facility may potentially be used for ill patients patients during the current Coronavirus crisis that is gripping China and slowly spreading to other countries.

Professor John Oxford, one of the original founders of hVIVO is also a world-leading expert on Coronavirus and virology. In this capacity he has appeared across numerous TV and radio programmes over the past week, and is also an advisor and consultant to Cathal Friel and the enlarged Open Orphan Group.

The coming days will see more information emerge about Open Orphan and hVivo’s capabilities surrounding virology, vaccines and the quarantine facility.

To keep up to speed with this fast moving company, the latest copy of the Open orphan investor presentation is now available to view on https://www.openorphan.com/investors/reasons-invest.

Alan Green – February 2020

Sunday Times – Irish firm Open Orphan #ORPH lined up for role in coronavirus fight

by Brian Carey

An Irish company is on call to play a part in the fight against the spread of the Wuhan coronavirus. Open Orphan, which is listed on the Alternative Investment Market in London, has just completed the purchase of hVivo, a British company which owns the largest commercial quarantine clinic in northern Europe.

The 24-bed clinic, attached to St Mary’s Hospital in London, is the only purpose-built commercial quarantine facility of its kind in Britain, and is normally used in vaccine trials. It is believed to be one of the few facilities in the UK where chronically ill coronavirus patients could be treated. There is a similar facility in Belgium, with seven beds.

Two Chinese nationals from the same family have been confirmed as Britain’s first

Read the full article here

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