Dublin-listed pharmaceutical services company Open Orphan said it is planning for a possible spin-out of some of its non-core development intellectual property assets.
The company said it believed the assets in question were best developed separately from the core services businesses to maximise shareholder value and could secure separate financial resources, enable accelerated development of these assets and achievement of commercial milestones.
Open Orphan (LON:ORPH) was founded in 2017, with the goal of rapidly building Europe’s leading pharma services company by a management team with extensive industry and financial expertise. The company comprises of two commercial specialist CRO services businesses (Venn Life Sciences and hVIVO) and is also developing a genomics data platform business (Genomic Health Data).