Contract Win

RNS Number : 2069I

Retroscreen Virology Group PLC

01 July 2013

 



For immediate release 07.00: 1 July 2013

RETROSCREEN VIROLOGY GROUP PLC

("Retroscreen" or the "Company")

CONTRACT WIN

Retroscreen Virology Group plc (AIM: RVG), the viral challenge and "Virometrics" specialist, is pleased to announce the signing of a Viral Challenge Model ("VCM") contract with a major global pharmaceutical company for the provision of a Human Rhinovirus (HRV) challenge study, which will use our newly developed HRV-16 virus, with the contract valued at £4.3m.

Kym Denny, Chief Executive Officer, commented, "We are delighted with this award and excited at the chance to work with such a leading pharmaceutical company on the development of their novel product.  This contract win reinforces the pharmaceutical industry's increasing belief in the VCM and the benefits it brings to product decision-making and accelerating drug development timelines.  Retroscreen's trading since year end has been strong with us operating concurrent VCM studies in two quarantine units for the first time.  Our sales pipeline continues to expand and the momentum of the core VCM business is building, with increasing numbers of opportunities under start-up agreement and converting to main contract signatures."

For further information please contact:

Retroscreen Virology Group plc                                                         [phone]

Kym Denny (CEO)

Graham Yeatman (FD)

Numis Securities Limited                                                                   [phone]

Michael Meade / Freddie Barnfield (Nominated Adviser)

James Black / Michael Burke (Corporate Broking)

 

END

 

 

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