Half year end update

RNS Number : 5675L

Venn Life Sciences Holdings PLC

20 July 2017

 

Venn Life Sciences Holdings Plc

("Venn" or the "Company" or the "Group")

Half year end update

Venn Life Sciences (AIM: VENN), a growing Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, provides the following update for the six months ended 30 June 2017.

The new financial year started well with contract wins of €5.7m secured in January and February, as previously announced. Overall, the Company has achieved total revenues of €9.1m (H2 2016 €8.84m) for the first six months of the year. Our client and revenue mix remains well balanced with strong rates of repeat business and we have successfully delivered initial cross sales between the early and late phase client bases. We have a strong proposals book which coupled with this solid first half performance provides confidence around full year revenue expectations. We finished the first half year with a cash position of €2.9m (€1.75m as at 30 June 2016).

Enquiries:

Venn Life Sciences Holdings Plc
Allan Wood - Non executive Chairman		Tel: [phone]
Tony Richardson, Chief Executive Officer		Tel: [phone]
Davy (Nominated Adviser, ESM Adviser and Joint Broker)
Fergal Meegan / Matthew DeVere White (Corporate Finance)			Tel: [phone]
Hybridan LLP (Co-Broker)
Claire Louise Noyce		Tel: [phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus		Mob: [phone]
Lianne Cawthorne		Mob: [phone]

About Venn Life Sciences:

Venn Life Sciences is a Clinical Research Organisation providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK, Ireland and Europe wide representation - Venn specialises in rapid deployment and management of multisite projects.

 

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