Venn Life Sciences Holdings Plc
(“Venn” or the “Company”)
Venn Life Sciences (AIM: VENN), a growing Clinical Research Organisation (CRO) providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces two significant projects won in recent weeks.
Venn has recently signed two substantial contracts to provide a number of clinical trial management services across Europe. The first is with a top 10 global pharmaceutical company to conduct a Phase IV, drug-drug interaction study and the second is with a leading US Biotech company to manage a multi-national study – neither company can be named due to confidentiality agreements.
These two key business opportunities, combined with other recent contract wins, will contribute c. €900,000 in additional revenue for the year ending 31 December 2013.
These contract wins demonstrate Venn’s ability to attract global clients at different stages in the lifecycle of drug discovery as well as expanding the Company’s offering to include diagnostics. The contract with the top 10 global pharmaceutical company follows a lengthy evaluation process and having successfully concluded this, Venn is now registered as a preferred partner for any further clinical trial management contracts.
Continuing Venn’s organic expansion, and following the establishment of Venn Russia in February 2013, the Company also announces that it has recently opened an additional office in the UK extending its reach throughout Europe.
In addition, Venn has augmented its Clinical Resourcing business with the appointment of Stewart Hulse as Vice President Resourcing. Stewart has over 15 years of clinical research and recruitment experience and has placed business in over 19 countries worldwide. Venn currently provides resourcing solutions across Europe exclusively in the areas of clinical research across all positions.
Commenting on the positive developments, Venn CEO, Tony Richardson, said: ‘These recent business wins and the expansion of our business are in line with our goals as set out earlier this year. We have targeted medical devices as a key growth area and the recent project win is a welcome endorsement of our capabilities. Securing preferred vendor status with top ten Pharma is a major achievement for a company of our current scale and reflects well on the robustness of our business.’
|Venn Life Sciences Holdings Plc|
|Tony Richardson, Chief Executive Officer||Tel: +353 154 99 341|
|Paul Foulger, Finance Director||Tel: 020 7245 1100|
|Orla McGuinness, Marketing Manager||Tel: +33 (0)1 30 82 67 07|
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|Ross Andrews/Andrew Jones(Corporate Finance)||Tel: 0161 831 1512|
|John Goold (Institutional Sales)||Tel: 020 7016 8925|
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