Open Orphan #ORPH – Exec Chairman Cathal Friel & Non Exec Director Prof. Brendan Buckley purchase shares

The Company announces that it has received notification that, on 14 July 2021, Cathal Friel, Executive Chairman of the Company, purchased 1,132,075 ordinary shares of 0.1 pence each in the capital of the Company (“Shares”) at a price of 26.5 pence per Share and that Prof. Brendan Buckley, Non-Executive Director of the Company, purchased 188,679 Shares at a price of 26.5 pence per Share.

Following this purchase Cathal Friel is interested in 47,087,086 Shares, representing approximately 7.0 per cent. of the Company’s issued ordinary share capital, and Brendan Buckley is interested in 8,034,539 Shares, representing approximately 1.2 per cent. of the Company’s issued ordinary share capital.

Cathal Friel, Executive Chairman, Open Orphan, said: “I am delighted to have now had the opportunity to increase my personal stake in Open Orphan plc by today purchasing additional shares, and am equally pleased that Brendan is joining me in doing likewise. These share purchases further demonstrates my and the Board’s commitment to the Company, and reiterates my confidence in Open Orphan’s future prospects as we enter a period where the infectious disease market is rapidly expanding and expected to grow to in excess of $250bn per annum by 2025.

“We continue to roll out new contract wins and having signed and announced this week and last week, two significant challenge study contract wins for our London office and earlier today a €900k contract win for our Breda, Netherlands office. In the past week I was also delighted to confirm that we were solidly EBITDA profitable in H1 2021 and remain on target for a profitable and successful 2021.

“Likewise, earlier today Poolbeg Pharma plc filed its Schedule One confirming that it had successfully raised £25m in fresh funds on a pre-money valuation of £25m, thus when it completes its IPO in the coming week it should be listing with a market cap of c. £50m. This is an excellent start to our strategy of spinning off and montizing our non-core assets. We plan and expect to spin off the other three non-core assets between now and year end; namely our 49% stake in Imutex, our 62.6% stake in PrEP Biopharm and Disease in Motion platform business. Thus, we have a very exciting year ahead for Open Orphan.”

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Notes to Editors

Open Orphan plc  (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The Company provides services to Big Pharma, biotech and government/public health organisations.

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world’s first COVID-19 human challenge study model as part of the  Human Challenge Programme  and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases.

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s  Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial  contracts .