Two new contracts for RSV human challenge studies

RNS Number : 2024D

hVIVO plc

08 October 2018

 

HVIVO PLC

("hVIVO" or the "Company")

Signed new contracts with a leading global biopharmaceutical company

§ Contracted for two respiratory syncytial virus (RSV) human challenge studies

§ Studies projected to deliver a total of c.£9m in revenue from Q4'18 through to end of 2019

§ Builds on recently announced £11.9m RSV contract

§ Further contract negotiations with other pharmaceutical companies ongoing, suggesting strong Company performance for 2019

London, UK, 8 October 2018: hVIVO plc (AIM: HVO), an industry leading clinical development services business pioneering human disease models based upon viral and allergen challenge, announces the signing of two new contracts with a leading global biopharmaceutical company for the provision of two respiratory syncytial virus (RSV) human challenge studies. The two studies are projected to deliver a total of c.£9m in revenue, with most of the revenue being recognised in 2019.

These contracts are in addition to the RSV human challenge study contract, with a large research and development-focused biotechnology company for the value of £11.9m, which the Company announced in September 2018 and is due to commence in our quarantine unit later this month. The revenue from this study is also expected to be fully recognised by the end of 2019.

Dr Trevor Phillips, Executive Chairman of hVIVO, commented:

"We are pleased to have signed these two contracts with this global biopharmaceutical company. The recent significant new contract wins reinforce our leading position in human disease models based upon viral and allergen challenge and are a testament to our industry leading RSV-human challenge model. We have the strongest sales pipeline we have had for several years. We remain actively engaged in several discussions with other pharmaceutical companies for contracting studies across our current challenge portfolio, including allergen, asthma, human rhinovirus, influenza and RSV.

We continue to experience high levels of interest from leading global pharmaceutical companies for the development of new challenge models in RSV, asthma and chronic obstructive pulmonary disease. With the significant demand for our services across the entire portfolio, we expect to convert a growing number of these opportunities into contracts that will further validate our service offerings and enhance our revenue in 2019 and beyond."

For further information please contact:

hVIVO plc
Trevor Phillips (Executive Chairman)	[phone]
Graham Yeatman, (Chief Financial Officer & Business Officer) Fleur Wood (EVP, Investor Relations & Communications)
Numis Securities Limited	[phone]
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black / Michael Burke (Corporate Broking)
FTI Consulting
Simon Conway / Victoria Foster Mitchell	[phone]

About hVIVO:

hVIVO plc ("hVIVO") is pioneering a human-based clinical trial platform to accelerate drug and vaccine development in respiratory and infectious diseases. Leveraging human disease models in flu, RSV, HRV and respiratory indications, the hVIVO platform captures disease in motion, illuminating the entire disease life cycle from healthy to sick and back to health. Based in the UK, market leader hVIVO has conducted more than 50 clinical studies and inoculated over 2500 volunteers.

About RSV

RSV is a highly contagious viral disease and is one of the most common causes of bronchiolitis and pneumonia. It is the number one cause of childhood hospitalisation both in the United States and around the world. Nearly all children are infected with the virus at least once by the age of 2-3 years. The disease is particularly dangerous for premature babies, children with other health conditions and the elderly. Many children develop pulmonary disease and/or asthma from RSV that persists throughout adult life making them susceptible to re-infection. Currently, there are no approved vaccines for RSV.

hVIVO's world leading RSV human challenge model

With currently no effective drugs approved for RSV, the risks of RSV infections are high in children, the elderly and immunocompromised patients. hVIVO's world leading RSV-human challenge model has been demonstrated to be robust and reproducible. Since hVIVO established its RSV model over a decade ago, it has inoculated over 1000 volunteers supporting the development of products.

 

END

 

 

CNTUGGWWUUPRUMM