Open Orphan Commences anti-viral testing for COVID-19
(ORPH ) has commenced testing of an anti-viral for the treatment of COVID-19 on behalf of its client Nearmedic International Ltd (“Nearmedic”) via its London-based subsidiary hVIVO.
hVIVO has initiated work on this contract with Nearmedic, a specialist pharmaceutical, biotechnological and medical business headquartered in Moscow, to test an anti-viral drug with potential utility for treating SARS-CoV2 (COVID-19) infections using hVIVO’s virology expertise and laboratory capability.
Importantly, this drug has both potential anti-viral and anti-inflammatory activity and as such could reduce both virus infectivity and disease severity, respectively.
hVIVO will be testing its utility against a panel of viruses to include influenza virus, “normal”, circulating betacoronavirus and ultimately SARS-CoV2 (COVID-19).
Whereas trials for a COVID-19 vaccine are accelerating rapidly, even skipping normal animal testing protocols and moving straight to Phase 1 human trials, they are still widely expected to take up to a year to fully develop. Antiviral testing on the other hand, particularly for anti-inflammatory properties to reduce dependency on intensive care units and improve overall patient outcomes, is much quicker and far more widespread.
hVIVO is therefore extremely well placed to benefit from the rapid increase in anti-viral testing volumes, particularly for anti-inflammatory properties, due to their recognised expertise in this area.
Shares in Open have rallied strongly from lows of 4.9p to close yesterday at 7p.
Cathal Friel, Executive Chairman of Open Orphan, commented: “We are very happy to be assisting in the battle against Covid-19 and are delighted to be working with Nearmedic International Ltd. hVIVO is a world leading provider of services to global vaccine and anti-viral production companies and our scientists have considerable knowledge from previous anti-viral trials which gives us confidence in our testing. We look forward to updating the market on a regular basis in the weeks and months ahead.”
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