TIDMORPH
RNS Number : 7861N
Open Orphan PLC
03 February 2021
3 February 2021
Open Orphan plc
("Open Orphan" or the "Company")
Exercise of Investor Warrants by Investors and Issue of
Shares
Total Voting Rights
Open Orphan plc (AIM: ORPH), a rapidly growing specialist
pharmaceutical services clinical research organization (CRO) and a
world leader in vaccine and antiviral testing using human challenge
clinical trials , has received notice of exercise of warrants by
investors who participated in the Venn loan note financing in
December 2018 over 1,349,349 ordinary shares of 0.1 pence each in
the capital of the Company ("Ordinary Shares") at a price of 0.1
pence per share for 477,703 Ordinary Shares and at a price of 2.2
pence per share for 871,646 Ordinary Shares. The gross proceeds of
this exercise received by the Company amounts to GBP19,653.91.
Following this exercise the warrants issued in connection with
the 2018 Venn loan note have been substantially exercised with
1,062,111 warrants outstanding. In addition, the 2018 Venn loan
note has now been fully repaid, and as such, the current
outstanding debt and loans owed by the Company is GBP319,000.
The total outstanding warrants over Ordinary Shares are as
follows:
Number of Exercise Date awarded Expiry Date Beneficiary
Ordinary Price per
Shares share
---------- ----------- ------------- ------------ ------------------------
166,666 30 pence 7 June 2011 6 June 2021 An advisor
376,008 0.1 pence 11 December 10 December Venn loan note investors
2018 2023
686,083 2.2 pence 11 December 10 December Venn loan note investors
2018 2023
1,607,142 5.6 pence 28 June 2019 27 June 2024 An advisor
The Company has made application for 1,349,349 new Ordinary
Shares, to be issued and allotted as a result of the warrant
exercise set out above, to be admitted to trading on AIM and
Euronext Growth. Admission is expected to occur at 8.00 a.m. on 8
February 2021.
Total Voting Rights
Following the admission of 1,349,349 new Ordinary Shares, the
Company's total issued ordinary share capital will consist of
669,401,610 Ordinary Shares. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Interested in becoming a volunteer?
hVIVO recruits many of its volunteers for its challenge study
clinical trials through its dedicated volunteer recruitment
website, www.flucamp.com . By volunteering to take part in one of
our studies in a safe, controlled, clinical environment under
expertly supervised conditions you are playing your part to further
medical research and help increase the understanding of respiratory
illnesses.
If you are interested in being contacted and provided with
details about future COVID-19 human challenge study research,
please leave your contact details at www.UKCovidChallenge.com .
For further information please contact:
Open Orphan plc +353 (0) 1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser
and Joint Broker) +44 (0) 20 7614 5900
John Llewellyn-Lloyd / Benjamin Cryer
/ Dan Gee-Summons
finnCap plc (Joint Broker) +44 (0) 20 7220 0500
Geoff Nash / James Thompson/ Richard
Chambers
Davy (Euronext Growth Adviser and Joint
Broker) +353 (0) 1 679 6363
Anthony Farrell
Walbrook PR (Financial PR +44 (0)20 7933 8780 or openorphan@walbrookpr.com
& IR)
+44 (0)7876 741 001 / +44
Anna Dunphy / Paul McManus (0)7980 541 893
About Open Orphan ( www.openorphan.com )
Open Orphan is a rapidly growing niche CRO pharmaceutical
services company which is a world leader in the testing of vaccines
and antivirals through the use of human challenge clinical trials.
Conducted from Europe's only 24-bedroom quarantine clinic with
onsite virology providing individually isolated rooms and connected
to our specialist laboratory facility. hVIVO's challenge studies
require healthy volunteers to take part, volunteers are recruited
through FluCamp, learn more at www.FluCamp.com . The hVIVO facility
offers highly specialised virology and immunology laboratory
services to support pre-clinical and clinical respiratory drug,
antiviral, and vaccine discovery and development. Reliable
laboratory analysis underpinned by scientific expertise is
essential when processing and analysing clinical samples. Robust
quality processes support our team of scientists in the delivery of
submission ready data.
The Company has a leading portfolio of 8 viral challenge study
models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD
viral challenge models. As announced in early March, Open Orphan is
rapidly advancing a number of Coronavirus challenge study models
and expects to be helping many COVID-19 vaccine development
companies to test their vaccines. No other company in the world has
such a portfolio, with only two competitors globally having 1
challenge study model each. hVIVO also works with companies in the
UK and Ireland to provide COVID-19 testing to staff to protect
staff and customers from a workplace COVID-19 outbreak through its
COVID Clear offering.
Open Orphan comprises of two commercial specialist CRO services
businesses, hVIVO and Venn Life Sciences and is also building out a
valuable data platform business. hVIVO has built up one of the
world's largest databases of infectious disease progression data
and we are populating our Open Orphan Health Data platform with
this historical hVIVO data. In our clinical trials going forward,
we are also planning to collect data on volunteers via wearables
during clinical trials. Therefore, Open Orphan's data, which may
yield valuable digital biomarkers, could be one of the more
sought-after datasets by many of the large wearables /smart watch
wearables providers around the world. In June 2019, Open Orphan
acquired AIM-listed Venn Life Sciences Holdings plc in a reverse
take-over and in January 2020 it completed the merger with hVIVO
plc. Venn is an integrated drug development consultancy firm which
offers CMC (chemistry, manufacturing and controls), preclinical,
Phase I & II clinical trials design and execution. The merger
with hVIVO created a European full pharma services company
broadening the Company's customer base and with complementary
specialist CRO services, widened the range of the Company's service
offerings.
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