Hvivo revenue increases by 15.5% in 2023, sets new £100M target by 2028

Hvivo, the pharmaceutical services company formerly known as Open Orphan, said revenue rose last year and raised its medium term targets to £100 million in revenue by 2028.

In a trading update for the year ended December 31st 2023, Hvivo said full year revenue was £56 million, up 15.5 per cent on the prior year. That was attributed to the continued strong delivery of human challenge trials and consulting services, and R & tax credits of £2.6 million.

Earnings before interest, tax, depreciation and amortisation margin also rose, reaching 22 per cent last year compared with 18.7 per cent in 2022. Cash was £37 million at the end of the year, up from £28.4 million at the end of 2022.

hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials, providing end-to-end early clinical development services for its broad and long-standing client base of biopharma companies.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    X
    LinkedIn
    hVIVO plc

    More articles like this

    hVIVO plc

    Take a 360° interactive tour of a FluCamp Volunteer Room

    hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials,

    hVIVO plc

    Clinical trial approval process in the UK

    The process of obtaining approval for clinical trials is comprehensive, as it involves multiple regulatory bodies that ensure the safety and efficacy of the medical interventions being tested. Researchers begin by meticulously planning the trial, outlining

    hVIVO plc

    The importance of Clinical Trial Monitoring

    Monitoring is essential from the moment a clinical trial is planned until it concludes. This ensures that the study remains unbiased, patient safety is prioritised, and accurate results are achieved. The process of clinical trial monitoring

    hVIVO plc

    The future of vaccine development through human challenge trials

    Testing new treatments and vaccines often requires years, if not decades, to gather sufficient data. In response, scientists are turning to a more direct approach that involves deliberately infecting volunteers with potentially deadly pathogens. A notable

    hVIVO plc

    The impact of Clinical Trial results on medical advancements

    Clinical trials play a pivotal role in advancing the medical industry by allowing new treatments and interventions to be rigorously tested for both effectiveness and safety. Understanding how clinical trial data is used is essential to

    hVIVO plc

    Hvivo reports significant growth in earnings and revenue

    Hvivo, previously known as Open Orphan, saw a significant increase in earnings during the first six months of the year, marking a 67.6% rise. Earnings before interest, taxes, depreciation, and amortisation reached £8.7 million (€10.32 million),

    hVIVO plc

    hVIVO reports strong first half, delivering record revenues and margins

    hVIVO plc (LON:HVO), a fast-growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, has announced its unaudited interim results for the six-month period ended 30 June 2024.

    hVIVO plc

    hVIVO expands to cutting-edge facility in Canary Wharf

    hVIVO plc, a specialist contract research organisation (CRO), is experiencing rapid growth, establishing itself as the global leader in testing vaccines and therapeutics for infectious and respiratory diseases. By conducting human challenge clinical trials, the company

    hVIVO plc

    hVIVO Capital Markets Day: Key insights and developments

    hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials,

    hVIVO plc

    Key differences between Clinical Trials and Clinical Studies

    Understanding the distinction between clinical trials and clinical studies is vital in the realm of medical research. While all clinical trials fall under the broader category of clinical studies, the two are not synonymous. Clinical trials