Co-founder Cathal Friel has indicated that a series of spinouts could unlock £750 million for shareholders in the Dublin-based pharma company.
Open Orphan, the Dublin-listed pharmaceutical services company run by Cathal Friel, will launch an initial public offering (IPO) of one of its non-core assets in June in a move that could raise more than £20 million.
It is likely to be the beginning of a busy period of stock market listings for Friel, who has in the past identified a further three non-core assets that could be publicly listed.
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).