TIDMORPH
RNS Number : 1787D
Open Orphan PLC
18 October 2022
Open Orphan plc
("Open Orphan" or the "Company")
CFO appointment & change of Board roles
Open Orphan plc (Ticker: ORPH), (to be renamed hVIVO plc
(Ticker: HVO) effective 26 October 2022), a rapidly growing
specialist contract research organisation (CRO) and world leader in
testing infectious and respiratory disease products using human
challenge clinical trials, announces the appointment of Stephen
Pinkerton as Chief Financial Officer ("CFO") and as an Executive
Director, effective with immediate effect. Stephen will succeed Leo
Toole who steps down from the Board and CFO role to pursue other
interests. Leo will remain with the Company until 31 December
2022.
Leo was appointed to the Board and as CFO in February 2020
following the acquisition of hVIVO plc. He was a key member of the
team that helped to turnaround the Company's financial position and
actively supported the Company in its engagement with the UK
Government to complete the world's first COVID-19 characterisation
study in 2021.
Stephen is a chartered accountant with over 25 years of
experience in senior financial roles and has served as Commercial
Financial Director of hVIVO since July 2017, having previously been
a consultant to the Company. Prior to joining hVIVO, Stephen spent
11 years in various senior financial roles at Thomson Reuters. He
will be based in the Company's Plumbers Row headquarters in East
London alongside the Company's CEO Yamin 'Mo' Khan.
Stephen has a strong background in financial planning and
analysis, commercial finance, financial systems and financial
control. As Commercial Financial Director of hVIVO, he has worked
to transform the reporting and forecasting of the business,
developed pricing models for contracts to help improve average
contract value as well as driving margin improvements across the
business, and has served as part of the business development team
negotiating contract terms. As part of the leadership team, he has
worked to help manage costs and restructure the business to improve
efficiency, resulting in continued improvements in
profitability.
Following the appointment of Yamin 'Mo' Khan as CEO on 24
February 2022, Cathal Friel is reverting to Non-Executive Chairman.
Cathal remains fully committed to the business and will continue to
work closely with Mo and Stephen going forward with particular
focus on strategic initiatives for the Company.
Stephen Pinkerton, Chief Financial Officer of Open Orphan plc,
said: "Having worked at hVIVO for over six years, both in a
permanent role and previously as a consultant, I have built a deep
knowledge of the business and forged relationships with many of our
longstanding clients as part of the BD team. I am excited to begin
this new role as CFO of the wider group as we look to continue the
fantastic momentum that we have built in recent years."
Yamin 'Mo' Khan, Chief Executive Officer of Open Orphan plc,
said: "I am delighted that Stephen is stepping into the role of
Chief Financial Officer. His experience and knowledge of the
business mean he is ideally suited to support our growth strategy.
I would like to thank Leo for his significant contribution to the
Company over the past three years, where he has played a pivotal
role in our progress to date.
"I look forward to continuing to work with Cathal as we build on
the progress that both the Company and the entire team have made
over the last three years."
Disclosures in accordance with the AIM Rules and Euronext Growth
Rules (as relevant)
Stephen Pinkerton, aged 59, holds 67,364 options over ordinary
shares in the Company.
Current Directorships / Partnerships Past Directorships / Partnerships
----------------------------------
None Westfront Consultancy Limited
----------------------------------
Stephen was a Director at HB: Source Limited from 24 January
2005 to 11 June 2010. Prior to his appointment, HB: Source Limited
was pursuing a Company Voluntary Arrangement ("CVA") and Stephen
was appointed to support HB: Source Limited through the CVA. HB:
Source Limited was unable to fulfil its obligations under the terms
of the CVA and ultimately entered into a creditors voluntary
liquidation ("CVL") on 8 December 2008. The estimated amount that
unsecured creditors claimed was GBP1,380,000.00. The company was
dissolved on 11 June 2010.
Save as disclosed above, there are no other disclosures required
in relation to paragraph (g) of Schedule 2 of the AIM Rules for
Companies.
For further information please contact:
Open Orphan plc +44 (0) 20 7756 1300
Yamin 'Mo' Khan, Chief Executive
Officer
Liberum Capital (Nominated Adviser
and Joint Broker) +44 (0) 20 3100 2000
Ben Cryer/ Edward Mansfield/ Phil
Walker/ Will King
finnCap plc (Joint Broker) +44 (0) 20 7220 0500
Geoff Nash / James Thompson
Davy (Euronext Growth Adviser and
Joint Broker) +353 (0) 1 679 6363
Anthony Farrell
Walbrook PR (Financial PR & IR) +44 (0) 20 7933 8780 or openorphan@walbrookpr.com
Stephanie Cuthbert / Phillip +44 (0) 7796 794 663 / +44 (0) 7867 984
Marriage / 082 /
Louis Ashe-Jepson +44 (0) 7747 515 393
Notes to Editors
Open Orphan plc (Ticker: ORPH) is changing its name to hVIVO plc
(Ticker: HVO), which is expected to take effect on the AIM market
of the London Stock Exchange and the Euronext Growth Exchange
market on 26 October 2022.
Open Orphan is a rapidly growing specialist contract research
organisation (CRO) and the world leader in testing infectious and
respiratory disease vaccines and therapeutics using human challenge
clinical trials. The Group provides end-to-end early clinical
development services to its large, established and growing repeat
client base, which includes four of the top 10 largest global
biopharma companies.
The Group's fast-growing services business includes a unique
portfolio of 10+ human challenge models to test a broad range of
infectious and respiratory disease products, world class challenge
agent manufacturing, specialist drug development and clinical
consultancy services via its Venn Life Sciences brand, and a lab
offering via its hLAB brand, which includes virology, immunology
biomarker and molecular testing. The Group offers additional
clinical field trial services such as patient recruitment and
clinical trial site services.
hVIVO runs challenge studies in London from its Whitechapel
quarantine clinic, its state-of-the-art QMB clinic with its highly
specialised on-site virology and immunology laboratory, and its
clinic in Plumbers Row. To recruit volunteers / patients for its
studies, the Company leverages its unique clinical trial
recruitment capacity via its FluCamp volunteer screening facilities
in London and Manchester.
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END
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October 18, 2022 02:00 ET (06:00 GMT)
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