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Open Orphan #ORPH – Proposed Distribution in Specie & Notice of Results

Open Orphan plc (AIM: ORPH),  a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials , announces that, further to previous announcements, it proposes to make a distribution in specie of the entire issued share capital of its wholly-owned subsidiary Orph Pharma IP Company Limited (“Orph Pharma”) to Poolbeg Pharma Limited (“Poolbeg”), in return for the issue of new shares by Poolbeg (“Poolbeg Shares”) to shareholders of Open Orphan on the register at close of business on 17 June 2021 (“Relevant Shareholders“). 

The approval of Open Orphan shareholders to such distribution in specie was granted at Open Orphan’s general meeting held on 29 April 2021. 

It is expected that Open Orphan ordinary shares will be marked “ex rights” at 8.00 a.m. on 16 June 2021.

It is also expected that the board of Open Orphan will convene formally to make such distribution in specie on 18 June 2021 and that Relevant Shareholders will receive one Poolbeg Share for every 2.98 ordinary shares held in the Company, with resultant entitlements rounded down to the nearest whole number. Prior to the making of the distribution in specie, Open Orphan and Poolbeg intend to enter into a demerger agreement providing for the issue of the Poolbeg Shares to Relevant Shareholders in return for the distribution in specie of the entire issued share capital of Orph Pharma to Poolbeg.

Further to the Company’s announcement of 13 April 2021, the board of Open Orphan has determined that if and when the Poolbeg Shares are admitted to trading on AIM (“Admission”) Relevant Shareholders who receive Poolbeg Shares will not be permitted to sell, transfer or deal in such Poolbeg Shares for a period of 9 calendar months (the “Lock-up Period”). Accordingly, Open Orphan and Poolbeg have appointed Croft Nominees Limited (“Croft”) to hold the legal title to the Poolbeg Shares from the date on which the distribution in specie is effected until the date which is 9 months from Admission.

Croft has agreed to hold on trust on behalf of Relevant Shareholders, the beneficial owners of the Poolbeg Shares, an omnibus share certificate representing all the Poolbeg Shares until the end of the Lock-up Period and to take certain limited actions with respect to the Poolbeg Shares. Following the expiry of the Lock-up Period Croft will deliver the share certificate to Poolbeg’s registrar and will execute stock transfer forms to transfer the Poolbeg Shares to Relevant Shareholders based on a schedule to be provided to Croft by Poolbeg, and upon the registration of such Relevant Shareholders (or their respective personal representative, nominee or successor in title) as legal holders of such shares, Croft will be released from its obligations in relation to such trust arrangements.

In the event of a general meeting of Poolbeg during the Lock-up Period, Poolbeg will arrange for its registrar to contact Relevant Shareholders to ascertain how (if at all) they wish to vote. Croft will then complete a proxy form reflecting the voting intentions as so communicated to Poolbeg’s registrar. However, following the issue of the Poolbeg Shares to Relevant Shareholders, and given the passing of the resolutions at the general meeting of the Company on 29 April 2021, the board of Open Orphan intends to instruct Croft to vote the Poolbeg Shares in favour of resolutions to re-register Poolbeg as a public limited company and adopt appropriate public company articles of association.

It is intended that Relevant Shareholders will receive a letter informing them of their beneficial holdings of Poolbeg Shares shortly after the issue of the Poolbeg Shares.

Following the Lock-up Period, Relevant Shareholders (or their respective personal representative, nominee or successor in title) will receive individual registrations in respect of their Poolbeg Shares.

The anticipated timetable for the proposed Open Orphan distribution in specie is:

 

Open Orphan ordinary shares marked as ex rights

8.00 a.m. on 16 June 2021

Record date for the distribution in specie

Close of business on 17 June 2021

Distribution in specie effected

18 June 2021

Registration of Poolbeg Shares in the name of Croft Nominees Limited

Upon issue on 18 June 2021

 

A copy of the undertaking in relation to Croft Nominees Limited acting as legal holder of the Poolbeg Shares will be made available in due course via the investor section of the Company’s website.

Notice of Results

The Board expects to release the Company’s audited results for the year ended 31 December 2020 on 17 June 2021. It also expects, at the same time, to update shareholders on the progress of the anticipated admission to trading on AIM of Poolbeg.

 

Open Orphan plc

+353 (0) 1 644 0007

Cathal Friel, Executive Chairman

Arden Partners plc (Nominated Adviser and Joint Broker)

  +44 (0)20 7614 5900

John Llewellyn-Lloyd / Richard Johnson / Oscair McGrath

finnCap Ltd (Joint Broker)

+44 (0)20 7220 0500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or  openorphan@walbrookpr.com

Paul McManus / Sam Allen

+44 (0)7980 541 893 / +44 ( 0)7748 651 727

 

Notes to Editors

Open Orphan plc    (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The company provides services to Big Pharma, biotech and government/public health organisations. 

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world’s first COVID-19 human challenge study model as part of the    Human Challenge Programme    and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases. 

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial  contracts

Open Orphan #ORPH – Exercise of Warrants & TVR

Open Orphan plc (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials , has received notice of exercise of warrants by investors, who participated in the Venn loan note financing in December 2018, over 404,806 ordinary shares of  0.1 pence each in the capital of the Company (“Ordinary Shares”) at a price of 0.1 pence per share for 143,312 Ordinary Shares and at a price of 2.2 pence per share for 261,494 Ordinary Shares. The gross proceeds of this exercise received by the Company amount to £5,896.18.

Following this exercise, the warrants issued to investors in connection with the 2018 Venn loan note have been substantially exercised with only the Chairman’s 657,285 warrants outstanding.

The total outstanding warrants over Ordinary Shares are as follows:

Number of Ordinary Shares

Exercise Price per share

Date awarded

Expiry Date

Beneficiary

232,696

0.1 pence

11 December 2018

10 December 2023

Venn loan note investor

424,589

2.2 pence

11 December 2018

10 December 2023

Venn loan note investor

1,607,142

5.6 pence

28 June 2019

27 June 2024

An advisor


The Company has made application for 404,806 new Ordinary Shares, to be issued and allotted as a result of the warrant exercise set out above, to be admitted to trading on AIM and Euronext Growth. Admission is expected to occur at 8.00 a.m. on 16 June 2021.

Total Voting Rights

Following the admission of the 404,806 new Ordinary Shares, the Company’s total issued ordinary share capital will consist of 670,855,002 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

Interested in becoming a volunteer?

hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website,  www.flucamp.com . By volunteering to take part in one of our studies in a safe, controlled, clinical environment under expertly supervised conditions you are playing your part to further medical research and help increase the understanding of respiratory illnesses.

If you are interested in being contacted and provided with details about future COVID-19 human challenge study research, please leave your contact details at  www.UKCovidChallenge.com .

For further information, please contact: 

Open Orphan plc

www.openorphan.com

Cathal Friel, Executive Chairman

+353 (0) 1 644 0007 

Arden Partners plc (Nominated Adviser and Joint Broker)

  +44 (0) 20 7614 5900

John Llewellyn-Lloyd / Richard Johnson / Oscair McGrath

finnCap plc (Joint Broker)

+44 (0) 20 7220 0500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or openorphan@walbrookpr.com

Paul McManus / Sam Allen /

Lianne Cawthorne

+44 (0)7980 541 893 / +44 (0)7748 651 727 /

+44 (0)7584 391 303

 

Notes to Editors

Open Orphan plc  (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The company provides services to Big Pharma, biotech and government/public health organisations. 

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world’s first COVID-19 human challenge study model as part of the  Human Challenge Programme  and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies. 

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases.

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial  contracts .

Open Orphan #ORPH – Court Approval to facilitate Distribution in Specie

Open Orphan (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials, confirms that, following its announcement on 13 April 2021, it has received Court approval for the reduction in capital. The reduction of capital will become effective on registration of the Court order at Companies House, which is expected to occur in the next few days. 

The reduction of capital will give the Company the ability to not only effect the Distribution in Specie, as part of the proposed spin-out of certain non-core Development IP Assets, but also to make other distributions to Shareholders and/or buy back its own Open Orphan Ordinary Shares in the future if and when the Directors may consider that it is appropriate to do so.

As previously announced, the Board has decided that a spin-out and admission to AIM of the wholly owned Development IP Assets may provide the opportunity to secure separate financial resources for the Development IP Assets, with the goal of enabling accelerated development of the asset portfolio and achievement of development and commercial milestones. The Development IP Assets include HVO-001, an orally available, small molecule immunomodulator drug with potential as a treatment for severe influenza and symptoms requiring treatment in hospital with the drug unaffected by viral heterogeneity. It has the potential to treat a broad range of serious unmet needs in patients suffering from severe and fatal respiratory disease.

It is anticipated that a spin-out pursuant to the Demerger would allow the Company’s shareholders to benefit from both the value of the Development IP Assets and the standalone value of the remaining business as it progresses through its own key milestones.

The Company continues to make good progress towards delivering against the potential Demerger and Distribution in Specie and will update shareholders in due course.

Terms defined in the Company’s circular dated 13 April 2021 shall have the same meanings in the announcement.

Cathal Friel, Executive Chairman of Open Orphan plc commented: “We are delighted to have received Court approval of the reduction of capital. The reduction of capital will allow us to return value to shareholders as we go forward either as a distribution in specie as part of the proposed spin-off or through a share buy back or a payment of a dividend, as appropriate. The Company and the entire Open Orphan team have made significant progress in the past year and we remain on target with all of our plans as we continue to build the company going forward.” 

Open Orphan plc

+353 (0) 1 644 0007

Cathal Friel, Executive Chairman

Arden Partners plc (Nominated Adviser and Joint Broker)

   +44 (0) 20 7614 5900

John Llewellyn-Lloyd / Richard Johnson / Nick Wright

finnCap plc (Joint Broker)

+44 (0) 20 7220 0500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or openorphan@walbrookpr.com

Paul McManus / Louis Ashe-Jepson / Sam Allen

+44 (0)7980 541 893 / 07747 515 393 / 07502 558 258  

Notes to Editors 

Open Orphan plc (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The company provides services to Big Pharma, biotech and government/public health organisations.

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world’s first COVID-19 human challenge study model as part of the Human Challenge Programme and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases.

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial contracts.

Open Orphan #ORPH – £3m COVID-19 challenge virus manufacturing contract for hVIVO based on new COVID-19 variants

Open Orphan plc (AIM: ORPH), a rapidly growing specialist pharmaceutical services contract research organisation (CRO) and world leader in vaccine and antiviral testing using human challenge clinical trials, announces that hVIVO, a subsidiary of Open Orphan plc, has signed a contract with Imperial College London, as part of a Wellcome Trust funded initiative to manufacture a SARS-CoV-2 challenge virus.

The contract is worth £3 million and under this agreement hVIVO will develop a new SARS-CoV-2 challenge virus based on new emerging variants of the virus, which will be used in future hVIVO run human challenge trials to allow direct comparisons of vaccines or antivirals against different COVID-19 variants.

The manufacturing project will begin immediately and is expected to complete before the end of 2021. Following completion of the manufacturing project there is the potential for a follow on characterisation study for this virus to be conducted by hVIVO in partnership with Imperial and Wellcome.

hVIVO has two decades of experience and expertise in challenge agent (virus) manufacture across a range of respiratory viruses including various strains of influenza, Respiratory Syncytial Virus (RSV), human Rhinovirus hRV (common cold virus), as well as a more recently the initial circulating SARS-CoV-2 virus. These challenge agents are then used in controlled human infection studies, an area that hVIVO has focussed on since 2001.

Open Orphan has successfully initiated the development of a number of Coronavirus challenge viruses. The Company has already developed the initial circulating COVID-19 (SARS-CoV-2) virus as part of the Human Challenge Programme in partnership with the UK Government.

Cathal Friel, Executive Chairman of Open Orphan plc commented: “This contract is a great example of how our unique abilities to provide an all encompassing solution for human challenge trials sets us apart. We are able to support our customers from the very beginning of the process by developing challenge study models, including the manufacture of the challenge virus, as well as taking responsibility for full trial recruitment and using our London based quarantine facilities to run the human challenge studies themselves.”

Dr Andrew Catchpole, Chief Scientific Officer, hVIVO commented: “We are delighted to be able to utilise our extensive experience in challenge virus production at hVIVO to aid this important programme in meeting its aims. Production of a SARS-CoV-2 variant challenge virus builds upon our knowledge and learnings from manufacturing and characterising the original Wuhan-like D614G SARS-CoV-2 virus.  The availability of a variant SARS-CoV-2 virus will greatly expand the utility of the SARS-CoV-2 challenge model and allow us to answer a wider range of important scientific questions to aid control of the pandemic as well as facilitate further testing of vaccines designed against COVID-19.”

Dr Chris Chiu, Imperial College London commented: “We are pleased to be embarking on this new phase in development of the SARS-CoV-2 human challenge model with hVIVO. By keeping up with viral evolution, we will be able to address even more relevant scientific questions and test the ability of immune responses after vaccination and infection to protect against different strains of SARS-CoV-2. We are committed to enhancing collaboration through sharing of this virus with academic investigators around the world who have capacity to conduct human infection challenge for academic purposes, thus further enhancing the pandemic response.”

Interested in becoming a volunteer?

Individuals interested in taking part in COVID-19 human challenge study research can learn more at _www.UKCovidChallenge.com.

hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website, www.flucamp.com. By volunteering to take part in one of our studies in a safe, controlled, clinical environment under expertly supervised conditions you are playing your part to further medical research and help increase the understanding of respiratory illnesses.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information please contact:

 

Open Orphan plc +353 (0) 1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser and Joint Broker)    +44 (0) 20 7614 5900
John Llewellyn-Lloyd / Benjamin Cryer / Nick Wright
 
finnCap plc (Joint Broker) +44 (0) 20 7220 0500
Geoff Nash / James Thompson / Richard Chambers
 
Davy (Euronext Growth Adviser and Joint Broker) +353 (0) 1 679 6363
Anthony Farrell
 
Walbrook PR (Financial PR & IR) +44 (0)20 7933 8780 or openorphan@walbrookpr.com
Paul McManus / Louis Ashe-Jepson / Sam Allen +44 (0)7980 541 893 / 07747 515 393 / 07502 558 258

 

Notes to Editors

Open Orphan plc (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The company provides services to Big Pharma, biotech and government/public health organisations.

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world’s first COVID-19 human challenge study model as part of the Human Challenge Programme and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases.

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial contracts.

Wellcome Trust

Wellcome supports science to solve the urgent health challenges facing everyone. We support discovery research into life, health and wellbeing, and we’re taking on three worldwide health challenges: mental health, global heating and infectious diseases.

Open Orphan PLC #ORPH – Result of General Meeting

Result of General Meeting

Open Orphan plc (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials , announces that all resolutions proposed at the General Meeting held earlier today were duly passed.

Further announcements regarding the proposed Distribution in Specie will be made in due course.

For further information, please contact:

Open Orphan plc

www.openorphan.com

Cathal Friel, Executive Chairman

+353 (0) 1 644 0007 

Arden Partners plc (Nominated Adviser and Joint Broker)

  +44 (0) 20 7614 5900

John Llewellyn-Lloyd / Benjamin Cryer / Nick Wright

finnCap plc (Joint Broker)

+44 (0) 20 7220 0500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or openorphan@walbrookpr.com

Paul McManus / Sam Allen /

Lianne Cawthorne

+44 (0)7980 541 893 / +44 (0)7748 651 727 /

+44 (0)7584 391 303

Alan Green talks Watches of Switzerland #WOSG, Open Orphan #ORPH & Union Jack Oil #UJO on Vox Markets podcast

Alan Green discusses Watches of Switzerland #WOSG, Open Orphan #ORPH & Union Jack Oil #UJO on Vox Markets podcast. Interview is 18 minutes 35 seconds in.

Andrew Hore – Quoted Micro 19 April 2021

AQUIS STOCK EXCHANGE

NFT Investments (NFT) is a shell that intends to invest a portfolio of non-fungible tokens (NFTs). An NFT is a digital file with a unique and verified identity held on a digital ledger or blockchain. The tokens can be bought with cryptocurrency and resold. Ownership of NFTs can be tracked and they can be set up so that the original owner gets a cut of any subsequent sale. NFT Investments will apply to be a small registered UK AIFM. NFT Investments raised £35m at 5p a share and it has net assets of 3.7p a share. The shares ended the first day of trading at 4.95p (4.8p/5.1p) after a significant number of trades.

Apollon Formularies (APOL) has completed its reversal into AfriAg Global via an all share offer. The business holds medicinal cannabis licences in Jamaica. Interim regulations allow the export of medicinal cannabis. Medicinal cannabis oils are being sold and medically supervised treatments provided. Management intends to use £1.1m of the funds raised to finance research and development. The rest of the cash raised will go on developing product sales, operating costs and market research.

Good Energy (GOOD) increased revenues by 5% to £130.6m in 2020. Gross margins declined and higher bad debts and increased depreciation meant that underlying pre-tax profit was £400,000, down from £2.1m. Net debt was £34.6m at the end of 2020. Dividend payments will resume this year.

Gunsynd (GUN) had net assets of £4.94m at the end of January 2021. That was before the flotation of spirits company Rogue Baron (SHNJ), which has increased the value of the shareholding. There was £1m in the bank prior to the recent sale of part of the Rogue Baron stake.

KR1 (KR1) has invested $250,000 into Equilibrium in return for 595,238 EQ tokens.

Eastinco Mining (EM.P) is conducting test work on orebody samples. Discussions continue with Noble Group about an offtake agreement for tantalum and tine from the Musasa project. There is $325,000 in the bank.

Clean Invest Africa (CIA) subsidiary CoalTech has signed development agreements to identify opportunities in China and Indonesia. It will own 20% CoalTech Far East and Daniel Lee the rest.

Love Hemp (LIFE) has increased the amount raised in the recent placing from £5m to £7m.

Chris Akers has increased his stake in Quetzal Capital (QTZ) from 12.3% to 14.1%. Sebastian Marr has taken a 3% stake in Rogue Baron (SHNJ).

AIM

AdEPT Technology (LON: ADT) has acquired Datrix for an initial £9m, with potential deferred consideration of up to £7m based on the growth of the business. The business provides cloud-based networking and cyber security services, and the two firms already work together. In the year to March 2021, Datrix is estimated to have generated revenues of £10.7m and pre-tax profit of £600,000. There should be £400,000 of annualised cost savings.

A £10m placing at 10p a share by Helium One Global (HE1) was oversubscribed. There was enough cash in the bank to drill three exploration wells at the 100%-owned Rukwa helium project in Tanzania in the next few months. The additional funds will enable the drilling rig to be retained for additional appraisal and more 3D seismic can be acquired.

Open Orphan (ORPH) is planning to demerge HVO-001, which is a small molecule, immunomodulator drug that could become a treatment for severe flu, and other non-core assets inherited from the merger with hVIVO. Shareholders will receive shares in the new vehicle which could be quoted on AIM.

Franchised lettings agency Belvoir (LSE: BLV) improved 2020 revenues from £19.3m to £21.7m, while pre-tax profit rose from £6.2m to £7.5m. Net debt was £3.7m at the end of 2020, although £4m has since been spent on the Nicholas Humphreys business. The property market remains buoyant.

Steel structures supplier Billington (LSE: BILN) still has a strong balance sheet with net cash of £13.9m. Last year, revenues slumped from £104.9m to £66m, while pre-tax profit dipped from £5.9m to £1.7m. The final dividend is 4.25p a share. There is a significant order book, but costs are increasing.

Gaming machine monitors and consoles supplier Quixant (QXT) returned to profit in the second half of 2020. Full year revenues fell from $92.3m to $63.8m, while pre-tax profit dipped from $10.7m to $1.3m. The Densitron displays business did well due to demand from medical and broadcast customers.

Iodine producer Iofina (IOF) says that quarterly production fell 17% to 108.2MT and the first half production is likely to be around 250MT. This is due to the cold weather and the lower than expected production is offset by higher iodine prices.

GYG (GYG) says that a German shipyard has gone into administration with more than £2m of invoices outstanding. This was announced after Harwood Capital said it is considering a bid for the superyacht painting and maintenance services provider of 92.5p a share.

For the first time since April 2017, Immunodiagnostic Systems Holdings (IDH) has published a trading statement at 7pm on a Friday rather than after 4.30pm.

MAIN MARKET

Mast Energy Developments (MAST) intends to develop a portfolio of reserve power assets. The first projects should be up and running this year. AIM-quoted, Africa-focused power projects developer Kibo Energy (KIBO) set up Mast Energy to buy and develop flexible power plants that will supply the reserve power market in the UK. A placing raised £5.54m at 12.5p a share when Mast joined the standard list on 14 April. Kibo still owns 55.4% of Mast.

NMCN (NMCN) has agreed a new £8.9m facility with Reflex Bridging Ltd. This is secured on property developments. The overdraft has been extended by Lloyds Bank.

BATM Advanced Communications (BVC) has secured a strategic partnership with albis-elcon, which will jointly offer the company’s network function virtualisation technology NFVTime.

Andrew Hore

Alan Green talks Coinbase & Mast Energy #MAST IPOs and markets, plus ECR Minerals #ECR, Blencowe Resources #BRES & Open Orphan #ORPH on UK Investor Magazine podcast

Alan Green joins the UK Investor Magazine Podcast as we await trading in Coinbase, the cryptocurrency dealing platform which could be valued at $100bn.

The Coinbase IPO marks the move of cryptocurrencies to the mainstream and we question what it could mean for assets such as Bitcoin if investors view Coinbase’s listing as a ‘buy the rumour, sell the fact’ moment.

Major investment banks and institutional investors have changed their stance on Crypto with this IPO, many who warned against investing in the assets, or even called them a Ponzi scheme, are now showing interest and working them into their business models.

After the busiest quarter for IPOs on the London Stock Exchange since 2007, we touch on Mast Energy Developments who began trading today, changing hands at 15p having set an IPO price of IPO.

The three UK equities we explore in this episode are ECR Minerals (LON:ECR), Open Orphan (LON:ORPH) and Blencowe Resources (LON:BRES)

Open Orphan #ORPH – Potential demerger of certain non-core assets

Open Orphan plc ((AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials,announces that it is at an advanced stage in planning for a possible spin-out of certain non-core Development IP Assets. These Development IP Assets are a portfoilio of intellectual property and development assets, including HVO-001 which has potential application in the treatment of respiratory disease. These do not include the equity interests in Imutex Limited and PrEP Biopharm Limited.

The Board believes that to maximise shareholder value that the Development IP Assets are best developed separately from the core services business. Furthermore, such a spin-out transaction could provide the opportunity to secure separate financial resources for these assets, to enable accelerated development of these assets and achievement of commercial milestones. A spin-out transaction would also allow Shareholders to benefit from both the value of the development assets and the standalone value of the core services business, as they progress through their own key milestones.

To this end, a circular (a “Circular”) is being sent to shareholders today providing background to, details of and reasons for, a proposed Reduction of Capital and Distribution in Specie, to facilitate the possible spin-out and admission to AIM of the Company’s non-core Development IP Assets. The reduction in capital will also allow for the Company to pay dividends and distributions to shareholders should the Board deem it appropriate in the future.

The Board has decided to take the necessary preliminary steps in preparation for a potential spin-out, including incorporating a new subsidiary, further details of which are outlined in the Circular.  The Company has decided to proceed in obtaining the approvals necessary for the Reduction of Capital and the Distribution in Specie which are required to implement the demerger. Notwithstanding that the Company is seeking the necessary approvals for the Reduction of Capital and the Distribution in Specie now, these considerations remain at an early stage, and there can be no guarantee that the Reduction of Capital and/or the Distribution in Specie will be completed. HMRC advance clearance for the Demerger has been successfully obtained so any distribution would be exempt for income tax purposes and have no capital gains implications for UK shareholders. Further announcements will be made at the appropriate time. 

Notice of General Meeting

The Circular contains a notice convening the General Meeting to be held at 11 a.m. on 29 April 2021 at which the Resolutions will be proposed.

Full details are outlined in the Circular, which will be posted to Shareholders today and will shortly be available, in accordance with AIM Rule 20, here: https://www.openorphan.com/investors/circulars-and-admission-document

Cathal Friel, Executive Chairman, said: “I am delighted that we are putting in place the first steps needed to enable the monetisation of some of our non-core assets. Over the last year we have been busy transforming Open Orphan into a profitable enterprise with a world leading position testing vaccines and antivirals using human challenge studies. We now have an opportunity to deliver significant further shareholder value by the Demerger of these non-core assets. Their development and commercialisation can be accelerated through the Demerger, which offers the opportunity to access financing as a separate public company listed on AIM and a separate business focussed on the successful commercialisation of pharmaceutical products.

“It is well known in the global  public markets that value is better recognised in the life sciences space when profitable services businesses are viewed separately from pharmaceutical development businesses that have different funding needs. This is now an excellent opportunity for shareholders in Open Orphan to maximise value through separate shareholdings in both a profitable pharma services company as well as an exciting pharma products commercialisation company. I believe that both are well positioned for success as we head into a decade of exponential capital investment across a broad range of infectious disease and respiratory illnesess. This is a sector that has been under-invested in the last thirty years and as such, will be one of the more exciting growth opportunities within the life sciences industry.”

Definitions contained in the Circular have the same meaning as in this announcement.

 

Open Orphan plc

www.openorphan.com

Cathal Friel, Executive Chairman

+353 (0) 1 644 0007 

Arden Partners plc (Nominated Adviser and Joint Broker)

  +44 (0) 20 7614 5900

John Llewellyn-Lloyd / Benjamin Cryer / Nick Wright

finnCap plc (Joint Broker)

+44 (0) 20 7220 0500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or openorphan@walbrookpr.com

Paul McManus / Sam Allen /

Lianne Cawthorne

+44 (0)7980 541 893 / +44 (0)7748 651 727 /

+44 (0)7584 391 303

The information provided below includes information contained within the Circular, which should be read as a whole.  

Introduction

Open Orphan is a pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The Company provides services to Big Pharma, biotech and government/public health organisations. This was described in the Company’s admission document dated 9 December 2019, following the acquisition of hVIVO by Open Orphan (the “Acquisition”). Since the Acquisition, the enlarged group has pursued a services led strategy centred around its leading position in vaccine and antiviral testing using human challenge clinical trials. The Group further provides a suite of consulting and clinical trial services to pharmaceutical and biotech companies as a leading Clinical Research Organisation (“CRO”).

The Group has continued to develop this services-led strategy since the Acquisition and has completed a post-merger restructuring and integration of its operations to drive efficiency and competitiveness in order to increase profitability. This restructuring, combined with renewed interest and investment in the treatment and prevention of respiratory disease, has resulted in the strong performance of the Group and its CRO services.

Prior to the Acquisition, hVIVO had made significant investments and had developed a portfolio of intellectual property covering the treatment and prevention of respiratory and infectious disease. Having repositioned the Group’s services the Directors have undertaken a review of the Group’s non-core assets. In order for some of these assets to achieve their full commercial potential further investment and deployment of management resource would be required. As a result of having refocused the Group on services, the Directors have taken the strategic decision to demerge certain development assets from the existing CRO business to maximise the future potential and value of both businesses. The Directors are now undertaking the required preliminary steps in order that they may execute a demerger of the Group’s wholly owned Development IP Assets later this year. This demerger would exclude the Group’s equity interests in Imutex Limited and PrEP Biopharm Limited.  Such a demerger would include certain intellectual property surrounding these Development IP Assets. The Company will update Shareholders in due course on its final plans and the timing of an expected demerger. The demerger would allow for any required future investment in the Development IP Assets without consuming existing Group funds or management resource. 

The Development IP Assets include HVO-001 with the Demerger intended to enable accelerated development of this asset utilising an outsourced partnership model and separate management team. It is also intended to provide the financial resources required to rapidly develop this molecule. A spin-out transaction of the Development IP Assets could also allow Shareholders to benefit from both the value of the Development IP Assets including HVO-001 and the standalone value of the remaining business as it progresses through its own key milestones.

The Board is now taking the necessary preliminary steps in preparation for a potential spin-out of its wholly owned Development IP Assets, including the incorporation of a new subsidiary, ORPH Pharma IP, further details of which are set out below.  The Company has decided to proceed with obtaining the approvals necessary for the Reduction of Capital and the Distribution in Specie which are required to implement the Demerger. Notwithstanding that the Company is seeking the necessary approvals for the Reduction of Capital and the Distribution in Specie now, these proposals remain at an early stage and there can be no guarantee that the Reduction of Capital and/or the Distribution in Specie will be completed. Further announcements will be made at the appropriate time. 

Demerger

As announced, the Company has been evaluating its plans for the Development IP Assets, including HVO-001. HVO-001 is an orally available, small molecule immunomodulator drug with potential as a treatment for severe influenza and symptoms requiring treatment in hospital with the drug unaffected by viral heterogeneity. It has the potential to treat a broad range of serious unmet needs in patients suffering from severe and fatal respiratory disease.

Having considered these plans in further detail, the Board has decided that a spin-out and admission to AIM of the wholly owned Development IP Assets may provide the opportunity to secure separate financial resources for the Development IP Assets, with the goal of enabling accelerated development of the asset portfolio and achievement of development and commercial milestones. It is anticipated that a spin-out pursuant to the Demerger would allow the Company’s shareholders to benefit from both the value of the Development IP Assets and the standalone value of the remaining business as they progress through their own key milestones.

The Company has completed various initial steps in anticipation of the implementation of the potential Demerger, including the transfer by HSL to ORPH Pharma IP, the Company’s recently incorporated wholly owned subsidiary, of the intellectual property relating to the Development IP Assets including HVO-001.  Pursuant to the assignment and licence agreement executed by HSL in favour of ORPH Pharma IP, HSL has assigned its interest in certain patents and patent applications to ORPH Pharma IP and licensed to ORPH Pharma IP certain trademarks, know-how, data and challenge agents; and, in addition, HSL has sub-licensed and sub-contracted in favour of ORPH Pharma IP its rights and obligations in relation to certain further intellectual property. As part of the foregoing, HSL will execute in favour of ORPH Pharma IP certain customary documents which will allow ORPH Pharma IP to register itself formally as the proprietor of the transferred intellectual property.

The next steps involve the Reduction of Capital to create distributable reserves to allow the Distribution in Specie to be declared pursuant to which the Demerger will be implemented and the Development IP Assets moved to Newco. 

The Directors believe that the Development IP Assets have the potential to deliver significant upside value for Shareholders. The Directors are therefore exploring funding options for that business, including equity funding, and the Directors intend on conducting initial market soundings in order to assist them in determining the feasibility of Newco being admitted to trading on AIM should the Demerger take place. Further announcements will be made at the appropriate time. 

The value of the proposed Distribution in Specie (the “Value”) has not yet been determined and the number of Newco Ordinary Shares (the “Ratio”) that each Shareholder would receive pursuant to the proposed Distribution in Specie has not yet been determined. If the results of the market sounding exercise for Newco are positive, the Board intends to declare the Distribution in Specie shortly prior to completion of the Fundraising and subsequent Admission, at which point the Value and the Ratio will be determined and announced to Shareholders via an RIS. The distribution in specie of the entire issued share capital of ORPH Pharma IP by the Company to Newco will be in return for Newco allotting and issuing Newco Ordinary Shares to Open Orphan Shareholders who are registered on the Open Orphan register of members at the specified demerger record date at a time and date to be determined by the Company and notified to the Shareholders in due course, on the basis of the determined Ratio (save that fractions of a Newco Ordinary Share will not be issued). 

The Company plans to use an external agent to establish a trust over the legal interest in the Newco Ordinary Shares allotted and issued pursuant to the Demerger, from the allotment and issue of such shares until the end of the Lock-In Period, pursuant to a nominee arrangement. The intention is that, following the end of the Lock-In Period, the agent will transfer legal title to the Newco Ordinary Shares to those beneficially entitled to them.  Shareholders should therefore be aware that if the Demerger is implemented they will not be able to sell, transfer or deal in the Newco Ordinary Shares they receive for a period to be determined by the Board and expected to be up to nine months following Admission. During the period of such nominee arrangements, and except as follows, such nominee will exercise the voting rights attaching to the Newco Ordinary Shares held by it in accordance with the wishes, if any, of the underlying beneficial owners of such shares. However, prior to Admission it will be necessary for Newco to re-register as a public limited company and, in order to facilitate the passing of the necessary resolution(s), it is intended that, on the basis that the Resolutions would already have been passed, the Board will instruct such nominee to vote all of the Newco Ordinary Shares held by it in favour of such resolution(s).

As mentioned above, Shareholders should note that the Board does not intend to declare the Distribution in Specie until the Fundraising for Newco process is near conclusion. The Fundraising process is in its early stages and so the Fundraising and Admission of Newco may or may not occur. The Distribution in Specie therefore may or may not occur. In the event that the Distribution in Specie does not occur ORPH Pharma IP will remain within the Open Orphan Group and continue to be operated as a subsidiary of the Company. The reserves created by the Reduction of Capital which were intended to be used in the implementation of the Distribution in Specie will be used, as with the balance of the reserves, to facilitate the future consideration of payment of dividends to Shareholders and the possible redemption or buy back of the Company’s shares where desirable. However, no assurance can be given that any such dividend would be declared or redemption or buy-back implemented. 

Reduction of Capital

The Act only permits a company to make distributions to its shareholders out of its profits available for that purpose. In addition, a public company may only fund a purchase of its own shares out of distributable profits. Such profits are, broadly, a company’s accumulated realised profits so far as not previously utilised by distribution or capitalisation, less its accumulated realised losses. The Company does not currently have distributable profits and is therefore unable to make any distributions to its Shareholders or fund a purchase of its own Open Orphan Ordinary Shares out of distributable profits. 

As at 31 December 2019, the Company had an accumulated retained earnings deficit on its statement of financial position of €3,513,000. At the same date, there was €19,041,000 standing to the credit of the Company’s share premium account.  In addition, the nominal value of the Deferred Shares (which are non-voting), which the Directors consider to be effectively worthless due to the extremely restricted rights which the shares confer on their holders, was £62,833.34. 

Since 31 December 2019, the Company’s share premium account has increased following the issue by the Company of Open Orphan Ordinary Shares at the following prices: (i) 207,040,800 Open Orphan Ordinary Shares at a price of £0.05775 per Open Orphan Ordinary Share; (ii) 86,885,253 Open Orphan Ordinary Shares at a price of £0.061 per Open Orphan Ordinary Share; (iii) 1,383,741 Open Orphan Ordinary Shares at a price of £0.001 per Open Orphan Ordinary Share; (iv) 2,524,860 Open Orphan Ordinary Shares at a price of £0.022 per Open Orphan Ordinary Share; (v) 114,821,824 Open Orphan Ordinary Shares at a price of £0.11 per Open Orphan Ordinary Share; and (vi) 2,172,565 Open Orphan Ordinary Shares at a price of £0.02 per Open Orphan Ordinary Share. 

As at 31 December 2020, there was £44,494,997 standing to the credit of the Company’s share premium account and the accumulated retained earnings deficit on the Company’s statement of financial position had also increased.

The Directors therefore feel it is appropriate to seek shareholder approval to effect the Reduction of Capital and, subject to the approval of the Shareholders and of the Court, to:

2.1

cancel the Company’s share premium account; and

2.2

cancel all of the Deferred Shares.

 

The Directors then propose to apply the reserve arising on the Reduction of Capital to eliminate the Company’s accumulated retained earnings deficit on its statement of financial position and, as to the balance, to create distributable profits on the balance sheet of the Company of approximately £39,388,000.  

As mentioned above, the Directors are planning to effect the Demerger by way of the Distribution in Specie.  However, in order to do this the Company first needs to create realised profits of the requisite amount which is the purpose of the Reduction of Capital. 

In addition, the Board believes that, subject to the future performance of the Company, the creation of realised profits will give the Company the ability to not only effect the Distribution in Specie but also to make distributions to Shareholders and/or buy back its own Open Orphan Ordinary Shares in the future if and when the Directors may consider that it is appropriate to do so. However, the Directors cannot give any guarantee either that the Company will make the Distribution in Specie or make any distributions or purchases of its own Open Orphan Ordinary Shares or as to the size of any distributions or purchases of its own Open Orphan Ordinary Shares which may be made.

The rights attaching to the Deferred Shares as set out in the articles of association of the Company (“Articles”) mean that the proposed cancellation of such shares does not involve a variation of such rights for any purpose and therefore the Company is authorised at any time to reduce its share capital (subject to the provisions of the Act) by cancelling the Deferred Shares without obtaining the consent of the holders of such Deferred Shares. Once the Reduction of Capital has been confirmed by the Court no further communication will be received by the holders of the Deferred Shares from the Company and all share certificates (if any) held in respect of such Deferred Shares can be destroyed. 

Cancellation of the share premium account and the Deferred Shares 

The cancellation of the Company’s share premium account and the Deferred Shares will only become effective if (in the following order): (i) Resolution 1 as set out in the Notice of General Meeting is approved by Shareholders at the General Meeting; (ii) confirmation is given by the Court; and (iii) the Court order and a statement of capital are delivered to and registered by Companies House.

As noted above, the cancellation of the Company’s share premium account and the Deferred Shares should enable the Directors to eliminate the current retained earnings deficit on the Company’s statement of financial position and create distributable profits. 

Notice of General Meeting

The Reduction of Capital and Distribution in Specie are conditional upon, inter alia, the Shareholders approving the Resolutions at the General Meeting.

In accordance with the UK Government’s response to the COVID-19 outbreak, and to minimize public health risks, it is strongly recommended that shareholders do not physically attend the General Meeting, and instead appoint the Chairman of the meeting as a proxy to exercise their right to vote.

The Circular contains a notice convening the General Meeting to be held at 11 a.m. on 29 April 2021 at which the Resolutions will be proposed.

Shareholders should note that, unless the Resolutions are approved at the General Meeting, the spin-out of the Development IP Assets cannot take place.

Recommendation

The Directors consider that the Resolutions are in the best interests of the Company and would promote the success of the Company for the benefit of its Shareholders as a whole. Accordingly, the Directors unanimously recommend that Shareholders vote in favour of the Resolutions to be proposed at the General Meeting as they and their immediate families and connected persons (within the meaning of section 252 of the Act) intend to do in respect of their aggregate holdings of 53,810,871 Open Orphan Ordinary Shares representing approximately 8.04 per cent. of the existing issued share capital of the Company.

ENDS

Notes to Editors

Open Orphan plc (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The company provides services to Big Pharma, biotech and government/public health organisations.

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world’s first COVID-19 human challenge study model as part of the Human Challenge Programme and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases.

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial contracts.

Interested in becoming a volunteer?

hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website,  www.flucamp.com . By volunteering to take part in one of our studies in a safe, controlled, clinical environment under expertly supervised conditions you are playing your part to further medical research and help increase the understanding of respiratory illnesses.  

Individuals interested in taking part in COVID-19 human challenge study research can learn more at  www.UKCovidChallenge.com .

Open Orphan #ORPH – Launch of Disease in Motion platform

Open Orphan (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and world leader in vaccine and antiviral testing using human challenge clinical trials , announces that hVIVO , a subsidiary of Open Orphan, has officially launched its Disease in Motion® platform. This unique data-focused platform includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has multiple infectious disease applications that are applicable to a wide variety of end users including big tech, wearables, pharma and biotech companies.  

hVIVO has been at the forefront of running human challenge studies for more than 20 years and has built up one of the most comprehensive, multi-parametric bio and databanks ever created for infectious diseases. This dataset from the Disease in Motion platform is continuously gathered throughout the onset, progression and resolution of an infection which is enabled by hVIVO’s challenge study model. The Company is committed to volunteer patient data privacy and data is only collected from fully consented volunteers in accordance with all relevant privacy guidelines.

For more information on the platform, please visit www.hvivo.com/DiseaseInMotion  

Cathal Friel, Executive Chairman said: The Disease in Motion platform includes data from cutting edge wearables that are applicable to a wide variety of end users including big tech, wearables, pharma and biotech companies. As volunteers remain under close observation prior to viral challenge, during disease progression and until resolution, data is captured across the full time-course of the infection, yielding possible insights into the body’s response to infection. The Disease in Motion platform currently spans several conditions with plans to expand this going forward.  

As a recognised global leader in supporting the development of therapeutics and vaccines, hVIVO and our team of virological, clinical and regulatory experts are actively in discussion with potential partners to help address the next set of challenges facing humanity.” 

Interested in becoming a volunteer?

hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website,  www.flucamp.com . By volunteering to take part in one of our studies in a safe, controlled, clinical environment under expertly supervised conditions you are playing your part to further medical research and help increase the understanding of respiratory illnesses.

Individuals interested in taking part in COVID-19 human challenge study research can learn more at www.UKCovidChallenge.com . 

For further information please contact:

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