Year End Update

RNS Number : 5307A

Venn Life Sciences Holdings PLC

23 December 2014

 

Venn Life Sciences Holdings Plc

("Venn" or the "Company")

Year End Update

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, announces a strong close to 2014 with November seeing a record billing month in excess €900k and full year revenues are expected to be at least double the previous year's revenues (2013: €2.04m). The Company will provide further details of the year end performance in January.

This strong close has been driven by substantial contract wins since May this year exceeding €8m in total value and provides a firm foundation for 2015. The Company already has contracted revenue for next year in excess of €6m, as well outstanding proposals for new contracts worth a total of €18m. 

With significant secured revenue for 2015 and the expectation that the Company will secure further contracts that will contribute to 2015, the Company is confident that it will deliver profitability and significant revenue growth next year.

Commenting on the Year End Update, CEO of Venn Life Sciences, Tony Richardson stated: "The strong close to the year driven by a number of new significant contracts has seen a major step change for Venn. We would like to reiterate that Venn has a solid book of profitable contracts and a healthy pipeline of opportunities giving us confidence for further growth and maiden profits next year."

Enquiries:

Venn Life Sciences Holdings Plc	www.vennlifesciences.com
Tony Richardson, Chief Executive Officer	Tel: [phone]
Orla McGuinness	Tel: [phone]
Zeus Capital (Nominated Adviser and Broker)
Ross Andrews/Andrew Jones	Tel: [phone]
Dominic Wilson	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.

 

END

 

 

TSTFEDEEEFLSEEE