hVIVO secures fresh contract to round out "wonderful" year
London, UK
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December 13, 2023 04:46 AM Eastern Standard Time
hVIVO PLC (AIM:HVO) chief executive Mo Khan speaks to Thomas Warner from Proactive after the specialist contract research organisation announced it has signed a £16.8mln full-service human challenge contract with a top-five global pharmaceutical company.
Khan explains 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 the revenue from this project will be recognised in 2024 and 2025.
Kahn highlights the significance of RSV in hVIVO's growth as a Contract Research Organization (CRO). He noted that their work with this strain has aided clients in achieving Fast Track designation and, in one instance, marketing authorisation for an RSV vaccine.
This contract marks a shift in clinical trial approaches, moving from traditional drug versus placebo trials to multi-cohort trials. This innovative approach allows for the examination of drug efficacy at various doses and the implementation of triggered dosing, which mimics real-world treatment scenarios.
Finally, Kahn shared positive financial news, stating that 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 is expected in January of the next year.
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