AGM Statement

RNS Number : 3197K

Venn Life Sciences Holdings PLC

24 June 2014

 



24 June 2014

Venn Life Sciences Holdings Plc

AGM Statement

Venn Life Sciences (AIM: VENN), a growing Clinical Research Organisation providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, will hold its Annual General Meeting today at 3pm at 4 Lombard Street, London EC3V 9HD.

In advance of the formal proceedings of the meeting the Chairman, David Evans, will make the following statement:

I am pleased to report that we continue to make good progress towards our goal of becoming a leading mid-sized European CRO with an expertise in managing complex multi-country clinical trials. As I mentioned in our results statement we have made significant progress in the scale and quality of our potential deal flow pipeline, with strong leads on a number of higher value Enterprise Level deals.

Last month we announced the securing of a particularly significant clinical trials management agreement for an orphan drug for the rare acute disease market. This multi-site agreement is worth over €3m and will run for over a year and a half, covering seven European countries as well as a number of US sites. This contract win endorses our change of focus from small single country projects to larger multi-centred projects and we hope to update shareholders on further project wins as they happen.

In addition, I am pleased with the progress made so far by Innovenn, our innovation division, since the acquisition of the anti-acne and living skin equivalent technology of Evocutis. We announced earlier in the month the grant of our first skin science patent by the European Patent Office and we have commenced commercial partnership discussions regarding Labskin which we expect to lead to additional revenue flows later this year.

We remain confident for the future and continue to expect to see significant gains in revenue in the second half of 2014.

Enquiries:

Venn Life Sciences Holdings Plc	www.vennlifesciences.com
Tony Richardson, Chief Executive Officer	Tel: [phone]
Orla McGuinness, Marketing Manager	Tel: [phone]
Zeus Capital (Nominated Adviser and Broker)
Ross Andrews/Andrew Jones (Corporate Finance)	Tel: [phone]
Dominic Wilson (Institutional Sales)	Tel: [phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

About Venn Life Sciences Limited:

Venn Life Sciences is a Clinical Research Organisation providing clinical trial management solutions and resourcing solutions to pharmaceutical, biotechnology and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK and Ireland and Europe wide representation - Venn specialises in rapid deployment and management of multisite projects. Venn recently established an innovation division - InnoVenn - focused primarily on breakthrough development opportunities in Skin Science.

 

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