TIDMORPH
RNS Number : 2068F
Open Orphan PLC
14 July 2021
Open Orphan PLC
("Open Orphan" or the "Company")
Directors' Dealings
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 EUR900k
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 GBP25m in fresh
funds on a pre-money valuation of GBP25m, thus when it completes
its IPO in the coming week it should be listing with a market cap
of c. GBP50m. 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."
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 / Richard Johnson
/ Oscair McGrath
finnCap Ltd (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)7980 541 893 /
Paul McManus / Louis Ashe-Jepson / 07747 515 393 / 07502
Sam Allen 558 258
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(R) 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 .
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name C athal Friel
------------------------------- ----------------------------------
2. Reason for the Notification
-------------------------------------------------------------------
a) Position/status E xecutive Chairman
------------------------------- ----------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Open Orphan plc
------------------------------- ----------------------------------
b) LEI 213800VT5KBM7JLIV118
------------------------------- ----------------------------------
4. Details of the transaction(s):section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv)each place where transactions have been
conducted
-------------------------------------------------------------------
a) Description of the Financial Ordinary shares of 0.1 pence each
instrument, type of
instrument
------------------------------- ----------------------------------
Identification code ESVUFR
ISIN GB00B9275X97
------------------------------- ----------------------------------
b) Nature of the Transaction Purchase of ordinary shares
------------------------------- ----------------------------------
c) Price(s) and volume(s) Price Volume
26.5 pence 1,132,075
----------
------------------------------- ----------------------------------
d) Aggregated information As above
* Aggregated volume
* Price
------------------------------- ----------------------------------
e) Date of the transaction 14 July 2021
------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange
------------------------------- ----------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
Name Professor Brendan Buckley
-------------------------------- ----------------------------------
Reason for the Notification
--------------------------------------------------------------------
Position/status Non-E xecutive Director
-------------------------------- ----------------------------------
Initial notification/amendment Initial notification
-------------------------------- ----------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
Name Open Orphan plc
-------------------------------- ----------------------------------
LEI 213800VT5KBM7JLIV118
-------------------------------- ----------------------------------
Details of the transaction(s):section to be repeated for (i) each
type of instrument; (ii) each type of transaction; (iii) each
date; and (iv)each place where transactions have been conducted
--------------------------------------------------------------------
Description of the Financial Ordinary shares of 0.1 pence each
instrument, type of
instrument
-------------------------------- ----------------------------------
Identification code ESVUFR
ISIN GB00B9275X97
-------------------------------- ----------------------------------
Nature of the Transaction Purchase of ordinary shares
-------------------------------- ----------------------------------
Price(s) and volume(s) Price Volume
26.5 pence 188,679
--------
-------------------------------- ----------------------------------
Aggregated information As above
* Aggregated volume
* Price
-------------------------------- ----------------------------------
Date of the transaction 14 July 2021
-------------------------------- ----------------------------------
Place of the transaction London Stock Exchange
-------------------------------- ----------------------------------
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