Trading update

RNS Number : 2206L

Venn Life Sciences Holdings PLC

08 January 2016

 

8 January 2016

Venn Life Sciences Holdings Plc

("Venn" or the "Company")

Year End Update

Venn Life Sciences (AIM: VENN), a growing Contract Research Organisation (CRO) providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces that revenues for full year to 31 December 2015 are expected to be at least double the previous year (2014: €4.9m). With a cash position at year end of €3.4m and the business now generating free cashflows Venn is well funded for future growth and well positioned to deliver further international expansion.

This strong performance has been delivered through continued success in winning enterprise level contracts, facilitated by a growing reputation for delivering excellence and ongoing expansion of our international coverage and service capabilities.

Commenting on the Year End Update, CEO of Venn Life Sciences, Tony Richardson stated: "We have now more than doubled our book of business in successive years and built a strong foundation on which we can deliver further growth.  The addition of drug development and early phase capabilities into our service offering will enable us to capture greater market share in 2016 and truly differentiate our position in the market." 

Enquiries:

Venn Life Sciences Holdings Plc		www.vennlifesciences.com
Tony Richardson, Chief Executive Officer		Tel: [phone]
Jonathan Hartshorn, Chief Financial Officer		Tel: [phone]
Orla McGuinness, Marketing Manager		Tel: [phone]
Zeus Capital (Nominated Adviser and Joint Broker)		Tel :[phone]
Andrew Jones / Phil Walker
Domnic Wilson / Alex Davis
Hybridan LLP (Joint-Broker)
Claire Louise Noyce		Tel: [phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Lianne Cawthorne		Mob: [phone]

About Venn Life Sciences Limited: Venn Life Sciences is a Contract Research Organisation providing drug development, 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 Life Sciences specialises in rapid deployment and management of multisite projects, across all phases. Venn Life Sciences also has an innovation division - Innovenn - focused primarily on breakthrough development opportunities in Skin Science.

For more information about the Company, please visit: www.vennlifesciences.com

 

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