London-listed Open Orphan (ORPH) has recommenced development of the world’s first commercial human coronavirus challenge study model.
The project will see humans deliberately infected with a coronavirus as part of the group’s efforts to develop a vaccine for Covid-19, it outlined in this morning's statement.
The specialist pharmaceuticals company told investors on Monday that it would reinitiate the project which was previously suspended by Hvivo, which it acquired last year, after there were concerns regarding insufficient market demand for the product.
The European-focused rare and orphan drugs company said the study model is known as a Controlled Human Infection Model (CHIM) and is being led by hVIVO’s Chief Scientist Andrew Catchpole in conjunction with Open Orphan’s Scientific Advisory Board.
Open Orphan will utilise common coronavirus strains such as OC43 and 229E which are from the same family of viruses as the newly emerging Covid-19 virus.
Unlike Covid-19, the common coronaviruses have been widespread in the community for many years and cause only mild cold-like respiratory illness, the group explained.
Shares in Open Orphan were trading 7.56% higher at 6.4p during Monday trading.
The strain will be administered to volunteers in hVIVO’s highly controlled quarantine clinic, staffed by a medical and scientific team whom to date have already safely inoculated over 3,000 volunteers in hVIVO’s current range of respiratory virus challenge models.
London-based Hvivo is unique as it has Europe’s only commercial 24-bed quarantine clinic and on-site virology laboratory where the project will be carried out.
The statement explained that the project will primarily be funded by the company’s new Chinese pharmaceutical partner companies who will get a return on their investment from royalties on the sale of the challenge study model.
It is anticipated that an additional follow-on larger pivotal challenge study will commence at the end Q4 2020 should the study be successful.
This further study will deliver significant further revenue which is expected to be a minimum of £7m.
“This is an important milestone in the development and evolution of Open Orphan and particularly its subsidiary hVIVO which is based in London, UK,” said Cathal Friel, Executive Chairman of Open Orphan.
He added, “This development also reinforces the strength of hVIVO’s reputation as a world leader in providing services to global vaccine production companies and anti-virals and is another example of the growth potential for Open Orphan.
Last Friday, the company inked a deal with an unnamed European biotech potentially worth over £10m to carry out a human challenge study for respiratory syncytial virus, the cause of mild colds.
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