ORPH - hVIVO secures fresh contract to round out wonderful year
(NewsDirect)
hVIVO PLC (AIM:HVO) chief executive MoKhan speaks to Thomas Warner from Proactive after the specialistcontract research organisation announced it has signed a £16.8mlnfull-service human challenge contract with a top-five globalpharmaceutical company.
Khanexplains that the contract focuses on a respiratory syncytial virus(RSV) strain. The project includes manufacturing and dosing steps,aiming to confirm the infectivity rate. He says the majority of therevenue from this project will be recognised in 2024 and 2025.
Kahn highlights the significance of RSV inhVIVO's growth as a Contract Research Organization (CRO). He notedthat their work with this strain has aided clients in achieving FastTrack designation and, in one instance, marketing authorisation for anRSV vaccine.
This contract marks ashift in clinical trial approaches, moving from traditional drugversus placebo trials to multi-cohort trials. This innovative approachallows for the examination of drug efficacy at various doses and theimplementation of triggered dosing, which mimics real-world treatmentscenarios.
Finally, Kahn shared positive financial news, statingthat hVIVO is trading ahead of expectations for what he describes as a"wonderful" year, with EBITDA margins surpassing 20%,exceeding previously published guidance. A comprehensive update isexpected in January of the next year.
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