Open Orphan Plc ( (GB:HVO) ) has issued an update.
hVIVO plc has acquired Cryostore Limited, a specialist in temperature-controlled storage solutions for biological and clinical materials, for up to £3.2 million. This acquisition is expected to enhance hVIVO’s earnings immediately and expand its client base by integrating Cryostore’s high-quality storage services. The acquisition will allow hVIVO to reduce costs, retain greater margins, and support its long-term growth strategy by complementing its existing hLAB and biobank services. Cryostore’s consistent revenue growth and strong client retention make it a valuable addition to hVIVO’s operations, promising cross-selling opportunities and further diversification of revenue streams.
More about Open Orphan Plc
hVIVO plc is a rapidly growing early-stage Contract Research Organisation (CRO) and the global leader in human challenge trials. The company provides end-to-end clinical development services to a diverse client base, including major biopharma companies. It specializes in human challenge trials for infectious and respiratory diseases and offers virology and immunology laboratory services under the hLAB brand. hVIVO operates a large quarantine facility in London and provides early-phase clinical trial services through its German subsidiary, CRS. Additionally, it offers drug development consulting and biometry services through Venn Life Sciences.
YTD Price Performance: -21.95%
Average Trading Volume: 3,221,614
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £108.9M
Learn more about HVO stock on TipRanks’ Stock Analysis page.