Major contract win

RNS Number : 3595H

Venn Life Sciences Holdings PLC

16 May 2014

 



Venn Life Sciences Holdings Plc

("Venn" or the "Company")

Major contract win

Venn Life Sciences Signs Master Service Agreement for Multi-Country Study

Value is in excess of €3m covering 8 countries in Europe & North America over 18 months

Venn Life Sciences (AIM: VENN), a growing Clinical Research Organisation providing clinical trial management solutions and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces the securing of a multi-country multi-million euro clinical trials management agreement with a major European biotechnology company.

This multi-site agreement will run for over a year and a half, covering seven European countries as well as a number of US sites and is valued in excess of €3m. The clinical trial management programme is for an orphan drug in a rare acute disease area and is proceeding this month.

Over the past year Venn has increased its geographic footprint in Europe with new offices in the UK and Germany. Business development has been focused on key growth areas of drug and device development and on winning similar studies across Europe, with a solid pipeline of work for 2014 and 2015 now secured. Studies in rare diseases have increased significantly in recent years and Venn has invested in ensuring they have the critical multi-site agile service capabilities essential to conduct and manage trials efficiently in this sector.

Commenting, Venn CEO, Tony Richardson, said:

"We are hearing from many of our clients - in the key pharmaceutical, biotechnology and medical device sectors - of a growing need for a much more agile multi-country clinical trial management capability, especially in the still complex greater European region. Venn has invested heavily in 2013 in preparing the business for a step change in the size and complexity of contracts undertaken. This contract win, and our current pipeline, represent a significant endorsement of our investment strategy since IPO. We have now moved our business focus from small single country projects to larger multicentred projects and we expect to cement this progress with additional project wins in the coming months."

Enquiries:

Venn Life Sciences Holdings Plc	www.vennlifesciences.com
Tony Richardson, Chief Executive Officer	Tel: [phone]
Orla McGuinness, Marketing Manager	Tel: [phone]
Zeus Capital (Nominated Adviser and Broker)
Ross Andrews/Andrew Jones (Corporate Finance)	Tel: [phone]
Dominic Wilson (Institutional Sales)	Tel: [phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

About Venn Life Sciences Limited:

Venn Life Sciences is a Clinical Research Organisation providing clinical trial management solutions and resourcing solutions to pharmaceutical, biotechnology and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK and Ireland and Europe wide representation - Venn specialises in rapid deployment and management of multisite projects. Venn recently established an innovation division - innoVenn - focused primarily on breakthrough development opportunities in Skin Science.

 

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