hVIVO (HVO) , a contract research organisation specialising in human challenge trials, confirmed the appointment of Shaun Chilton as Non-Executive Chair, effective today, September 1, 2025.
Chilton is an industry veteran with significant sector-relevant experience and track record of delivering strong sales growth. His experience spans 20 years of leading and managing private and public businesses, most notably as CEO of Clinigen Group, a global pharma services group operating in 100+ countries.
Chilton has considerable board experience in UK public companies. He is currently Non-Executive Chair of Avacta Group, Non-Executive Chair of Kintiga Limited, and Independent Supervisory Board Member of Product Life Group.
Chilton joins hVIVO at a time when the sector is navigating transient headwinds, driven by uncertainty in the US pharma industry that has impacted the broader CRO market. Despite this, HVO has demonstrated resilience, reporting in July 2025 robust H1 performance and raising its EBITDA guidance from mid-single digit to low-single loss for the year.
In the same update, hVIVO reported steady H1 revenues of £24.2m, in line with full-year expectations of £47m, with an EBITDA margin of c. 12%. A strong contracted orderbook of £40m underpins revenue visibility, supported by a healthy pipeline of large human challenge trials (HCTs) in advanced discussions. Notably, the total value of customer proposals submitted in H1 2025 exceeded all of FY24. The group remains debt-free, with a robust cash position of £23.3m at the half-year, supporting future growth.
hVIVO's resilient performance was underpinned by a well-diversified revenue base, with significant contributions coming from its hLAB standalone services as well as new revenue streams from recently acquired Germany-based CRS and its early-phase clinical trial services and participant recruitment. HVO also recently acquired Cryostore, a provider of temperature-controlled storage solutions for biological and clinical materials in London, bolstering its hLAB offering.
Despite temporary headwinds, the sector's underlying fundamentals remain strong, and we anticipate a normalisation of biotech funding in the near-to-medium term. hVIVO's core HCT business has proved highly resilient, as the group recently executed its largest field trial to date. Major projects are in advanced talks, such as the world's first Phase 3 HTC trial, anticipated to finalise by late FY25. Supported by increasing revenue diversification while managing its largest sales pipeline to date, hVIVO is very well-positioned to return to growth in FY26.
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