Appointment of Group Chief Financial Officer

RNS Number : 8240C

Open Orphan PLC

13 February 2020

 

13 February 2020

Open Orphan plc

("Open Orphan", or the "Company")

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	[phone] [phone]
Arden Partners plc (Nominated Adviser and Joint Broker) John Llewellyn-Lloyd / Benjamin Cryer	[phone]
Davy (Euronext Growth Adviser and Joint Broker) Anthony Farrell	[phone]
Camarco (Financial PR)
Tom Huddart / Daniel Sherwen	[phone]

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.

 

END

 

 

BOATTMFTMTABBFM