hVIVO, a company pioneering a human-based clinical trial platform to accelerate drug and vaccine development in respiratory and infectious diseases, has signed two new agreements with a global biopharmaceutical company, it was reported yesterday.
The contract has been signed for two respiratory syncytial virus human challenge studies. Both studies are expected to deliver a total of GBP9m in revenue, with most of the revenue being recognised in 2019. These contracts are in addition to the RSV human challenge study contract, with a large research and development-focused biotechnology company to the value of GBP11.9m that is due to start in a quarantine unit later this month. The revenue from this study is also expected to be fully recognised by the end of 2019.
hVIVO executive chairman, Dr Trevor Phillips, said, 'We are pleased to have signed these two contracts with this global biopharmaceutical company. The recent significant new contract wins reinforce our leading position in human disease models based upon viral and allergen challenge and are a testament to our industry leading RSV-human challenge model. We have the strongest sales pipeline we have had for several years. We remain actively engaged in several discussions with other pharmaceutical companies for contracting studies across our current challenge portfolio, including allergen, asthma, human rhinovirus, influenza and RSV. We continue to experience high levels of interest from leading global pharmaceutical companies for the development of new challenge models in RSV, asthma and chronic obstructive pulmonary disease. With the significant demand for our services across the entire portfolio, we expect to convert a growing number of these opportunities into contracts that will further validate our service offerings and enhance our revenue in 2019 and beyond.'
Poolbeg PHarma plc receives notice of allowance for POLB 001 patent
RedHill Biopharma secures USPTO Patent for Talicia, extending protection through 2034
Micron Biomedical names new scientific advisor to CEO
Quanterix partners with leading health networks for Alzheimer's diagnosis advancements
Precision BioSciences reports FDA pre-IND feedback for PBGENE-HBV
VBI to sell manufacturing capabilities and enter new license agreement with Brii Biosciences
Ondine Biomedical's Steriwave shows promise in nasal pathogen reduction
BioSenic expands patent coverage for ATO therapeutic platform
PacBio unveils Nanobind PanDNA kit for enhanced DNA extraction solutions
Sequentify receives funding from Israel Innovation Authority
INOVIO plans BLA submission for INO-3107 as RRP treatment
ImmunityBio secures USD320m investment from Oberland Capital
Poolbeg Pharma prioritises promising RSV drug candidates identified through AI-led analysis
GHIT fund invests JPY500m in antimalarial drug clinical trial