Open Orphan wins € 9.5 million asthma contract with major pharmaceutical company
Dublin-listed pharmacy services company Open Orphan said its subsidiary hVivo had signed a £ 8.1million (€ 9.5million) asthma contract with a major pharmaceutical company to test an antiviral product based on inhaled human rhinovirus.
Around 5.4 million people in the UK are currently receiving treatment for asthma. Illnesses such as the common cold, which can be caused by the human rhinovirus, can make symptoms worse.
The study is expected to begin in the first half of 2022. The company involved has not been named, although Open Orphan has identified it as one of Europe’s top five pharmaceutical companies.
“The Covid-19 pandemic has highlighted that over the past 30 years there has been very little investment in infectious diseases and respiratory products,” said Cathal Friel, executive chairman of Open Orphan.
“When the pandemic arrived, the world discovered that the medicine cabinet of infectious disease products to deal with Covid-19 was virtually empty.”
He said the infectious and respiratory disease market is expected to grow from $ 20 billion in 2019 to $ 250 billion by 2025.
“This resupply of the pharmaceutical industry’s medicine cabinet with infectious disease products globally is now leading to a huge expansion of investment in the infectious disease and respiratory products market and will be considered one of the most great growth opportunities in the history of the pharmaceutical industry. industry.”
Mr Friel said that Open Orphan was ideally situated to be one of the few companies in the world that can quickly and effectively test a wide range of new products against infectious and respiratory diseases as part of its clinical trial studies. of human provocation.
FinnCap Capital Markets analysts noted that this was the first asthma study signed by hVivo in years. He said the company’s human asthma study model had the potential to be “up to 20 percent of [the company’s] income goes forward ”.