Update re: Aquisition of German based CRO

RNS Number : 4463X

Venn Life Sciences Holdings PLC

13 January 2014

 

13 January 2014

Venn Life Sciences Holdings Plc

("Venn" or the "Company")

Update re: Acquisition of German based CRO

Venn Life Sciences (AIM: VENN), a growing Clinical Research Organisation (CRO) providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, is pleased to announce that the consideration of €0.6m payable for the acquisition of the trade and certain business assets and liabilities of CRM Clinical Trials GmbH, a German based CRO (previously announced on 31 October 2103) has been satisfied by the issue of 1,962,583 Venn shares at the current share price of 25.5 pence. Application has been made for 1,962,583 ordinary shares of 1 pence each to be admitted to trading on 14 January 2014.

Enquiries:

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

 

Additional Information:

About Venn Life Sciences Limited: www.vennlifesciences.com

Venn Life Sciences is a Clinical Research Organisation ("CRO") providing a suite of clinical trial management services to pharmaceutical, biotechnology and medical device organisations. With operations in France, Ireland, the Netherlands, Russia, the UK, and a branch office in Switzerland, the Venn Group also includes a Clinical Resourcing business placing experienced clinical teams and individuals on projects throughout Europe. The Company's near term objective is the expansion of its coverage to other European countries through strategic acquisitions and organic growth, offering clients a full service, multi-centred capability in Phase II-IV trials and across a range of principal disease areas.

 

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