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Open Orphan PLC (ORPH)

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Wednesday 14 July, 2021

Open Orphan PLC

Directors' Dealings

RNS Number : 2068F
Open Orphan PLC
14 July 2021
 

 

 

 

Open Orphan PLC

("Open Orphan" or the "Company")

 

Directors' Dealings

The Company announces that it has received notification that, on 14 July 2021, Cathal Friel, Executive Chairman of the Company, purchased 1,132,075 ordinary shares of 0.1 pence each in the capital of the Company ("Shares") at a price of 26.5 pence per Share and that Prof. Brendan Buckley, Non-Executive Director of the Company, purchased 188,679 Shares at a price of 26.5 pence per Share.

Following this purchase Cathal Friel is interested in 47,087,086 Shares, representing approximately 7.0 per cent. of the Company's issued ordinary share capital, and Brendan Buckley is interested in 8,034,539 Shares, representing approximately 1.2 per cent. of the Company's issued ordinary share capital.

Cathal Friel, Executive Chairman, Open Orphan, said: "I am delighted to have now had the opportunity to increase my personal stake in Open Orphan plc by today purchasing additional shares, and am equally pleased that Brendan is joining me in doing likewise. These share purchases further demonstrates my and the Board's commitment to the Company, and reiterates my confidence in Open Orphan's future prospects as we enter a period where the infectious disease market is rapidly expanding and expected to grow to in excess of $250bn per annum by 2025.

"We continue to roll out new contract wins and having signed and announced this week and last week, two significant challenge study contract wins for our London office and earlier today a €900k contract win for our Breda, Netherlands office. In the past week I was also delighted to confirm that we were solidly EBITDA profitable in H1 2021 and remain on target for a profitable and successful 2021.

"Likewise, earlier today Poolbeg Pharma plc filed its Schedule One confirming that it had successfully raised £25m in fresh funds on a pre-money valuation of £25m, thus when it completes its IPO in the coming week it should be listing with a market cap of c. £50m. This is an excellent start to our strategy of spinning off and montizing our non-core assets. We plan and expect to spin off the other three non-core assets between now and year end; namely our 49% stake in Imutex, our 62.6% stake in PrEP Biopharm and Disease in Motion platform business. Thus, we have a very exciting year ahead for Open Orphan."

For further information please contact:

  Open Orphan plc

+353 (0) 1 644 0007

Cathal Friel, Executive Chairman

 

 

 

Arden Partners plc (Nominated Adviser and Joint Broker)

  +44 (0) 20 7614 5900

John Llewellyn-Lloyd / Richard Johnson / Oscair McGrath

 

 

 

finnCap Ltd (Joint Broker)

+44 (0) 20 7220 0500

Geoff Nash / James Thompson / Richard Chambers

 

 

 

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

 

 

 

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or [email protected]

Paul McManus / Louis Ashe-Jepson / Sam Allen

+44 (0)7980 541 893 / 07747 515 393 / 07502 558 258 

     

 

Notes to Editors

Open Orphan plc  (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The Company provides services to Big Pharma, biotech and government/public health organisations.

 

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world's first COVID-19 human challenge study model as part of the  Human Challenge Programme  and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

 

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company's Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases.

 

Open Orphan's Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company's  Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial  contracts .

 

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them.

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

C athal Friel

2.

Reason for the Notification

a)

Position/status

E xecutive Chairman

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Open Orphan plc

b)

LEI

213800VT5KBM7JLIV118

4.

Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary shares of 0.1 pence each

Identification code

ESVUFR

ISIN  GB00B9275X97

b)

Nature of the Transaction

Purchase of ordinary shares

c)

Price(s) and volume(s)

Price

Volume

26.5 pence

1,132,075

 

d)

Aggregated information

-  Aggregated volume

-  Price

As above

e)

Date of the transaction

14 July 2021

f)

Place of the transaction

London Stock Exchange

 

Details of the person discharging managerial responsibilities / person closely associated

Name

Professor Brendan Buckley

Reason for the Notification

Position/status

Non-E xecutive Director

Initial notification/amendment

Initial notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Open Orphan plc

LEI

213800VT5KBM7JLIV118

Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted

Description of the Financial instrument, type of instrument

Ordinary shares of 0.1 pence each

Identification code

ESVUFR

ISIN  GB00B9275X97

Nature of the Transaction

Purchase of ordinary shares

Price(s) and volume(s)

Price

Volume

26.5 pence

188,679

 

Aggregated information

-  Aggregated volume

-  Price

As above

Date of the transaction

14 July 2021

Place of the transaction

London Stock Exchange

 

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