Half Year Report

Venn Life Sciences Holdings Plc
(“Venn” or the “Company” or the “Group”)

Half-year Report
Interim Results for 6 months ended 30 June 2017

Venn Life Sciences (AIM: VENN), a growing Contract Research Organisation (CRO) providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces its unaudited interim results for the six months ended 30 June 2017.

Financial Highlights

  • Revenue of €9.15m (H1 2016: €9.06m)
  • EBITDA of €0.414m (H1 2016: €0.402m)
  • Operating profit €0.01m (H1 2016: loss of €0.03m)
  • Cash and cash equivalents of €2.93m at 30 June 2017 (€1.75m at 30 June 2016)

Operational Highlights

  • Completion of key systems initiatives
  • Successful achievement of key project milestones leading to strong client endorsements and repeat business
  • Key new leadership hires in Information Technology and Quality Assurance
  • Integumen successfully floated on AIM, London in April 2017

Post Period End

  • Strengthening of the board & management with the appointment of Christian Milla as COO
  • Finalisation of Kinesis acquisition with no further consideration payable

Commenting today, Allan Wood, Non-Executive Chairman of Venn, said:
“The divestment of Innovenn, and subsequent flotation of Integumen, has facilitated a more singular focus on our core business, which now provides a unique range of drug development services for our customers. This coupled with key management additions and the conclusion of certain systems implementations leaves Venn well positioned to execute on new business opportunities. I would like to welcome Christian Milla to the team, Christian’s deep sector knowledge will be of significant benefit to the Group as we grow in the future. I would also like to express my gratitude to Gracielle Schutjens for her significant contribution to the business thus far and welcome her future commitment to developing new business for the Group.”

For the full report please click here – Venn Interim Results 

Enquiries:

Venn Life Sciences Holdings Plc
Allan Wood, Non-Executive Chairman Tel: +44 (0)7185 325 898
Tony Richardson, Chief Executive Officer Tel: +353 (0)87 2535 982

Davy (NOMAD, Broker & ESM Advisor)
Fergal Meegan / Matthew de Vere White (Corporate Finance)  Tel: +353 (0)1 679 6363

Hybridan LLP (Co-Broker)  Tel: +44 (0)20 3764 2341
Claire Louise Noyce

Walbrook PR Ltd  Tel: +44(0)20 7933 8787 or venn@walbrookpr.com

Paul McManus Mob: +44 (0)7980 541 893
Lianne Cawthorne Mob: +44 (0)7584 391 303

About Venn Life Sciences – www.vennlifesciences.com

Venn Life Sciences is a European Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology, academic and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK, Ireland and Europe wide representation – Venn specialises in tailored end to end drug development consultancy and clinical trial management services.