TIDMVENN

RNS Number : 2206L

Venn Life Sciences Holdings PLC

08 January 2016

8 January 2016

Venn Life Sciences Holdings Plc

("Venn" or the "Company")

Year End Update

Venn Life Sciences (AIM: VENN), a growing Contract Research Organisation (CRO) providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces that revenues for full year to 31 December 2015 are expected to be at least double the previous year (2014: EUR4.9m). With a cash position at year end of EUR3.4m and the business now generating free cashflows Venn is well funded for future growth and well positioned to deliver further international expansion.

This strong performance has been delivered through continued success in winning enterprise level contracts, facilitated by a growing reputation for delivering excellence and ongoing expansion of our international coverage and service capabilities.

Commenting on the Year End Update, CEO of Venn Life Sciences, Tony Richardson stated: "We have now more than doubled our book of business in successive years and built a strong foundation on which we can deliver further growth. The addition of drug development and early phase capabilities into our service offering will enable us to capture greater market share in 2016 and truly differentiate our position in the market."

Enquiries:

 
 Venn Life Sciences Holdings                              www.vennlifesciences.com 
  Plc 
 Tony Richardson, Chief Executive                             Tel: +353 154 99 341 
  Officer 
 Jonathan Hartshorn, Chief Financial                          Tel: +353 153 93 269 
  Officer 
 Orla McGuinness, Marketing                                   Tel: +353 153 93 269 
  Manager 
 
 Zeus Capital (Nominated Adviser                                Tel :+44(0)20 3829 
  and Joint Broker)                                                           5000 
 Andrew Jones / Phil Walker 
 Domnic Wilson / Alex Davis 
 
 Hybridan LLP (Joint-Broker) 
 Claire Louise Noyce                                            Tel: 020 3764 2341 
 
 Walbrook PR Ltd                         Tel: 020 7933 8787 or venn@walbrookpr.com 
 Lianne Cawthorne                                               Mob: 07584 391 303

About Venn Life Sciences Limited: Venn Life Sciences is a Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK, Ireland and Europe wide representation - Venn Life Sciences specialises in rapid deployment and management of multisite projects, across all phases. Venn Life Sciences also has an innovation division - Innovenn - focused primarily on breakthrough development opportunities in Skin Science.

For more information about the Company, please visit: www.vennlifesciences.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 08, 2016 02:01 ET (07:01 GMT)

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