Shares of Open Orphan plc (LON: ORPH) are gaining on Wednesday after the company announced that hVIVO, part of Open Orphan, has opened a new quarantine clinic in East London.
The new site is based in Whitechapel, opposite the Queen Mary BioEnterprise Innovation Centre which houses hVIVO’s 24 bedroom FluCamp site. The Whitechapel clinic will act as an extension of the Queen Mary site.
The clinic has the capacity for up to 19 quarantine rooms and will be used as an additional unit for Human challenge trials and volunteer recruitment screening.
“Our QMB clinic is now close to full capacity until December 2021, and as such, the newly renovated, state of the art Whitechapel Clinic will allow us to increase our study capacity substantially in the year ahead,” stated Cathal Friel, Open Orphan’s executive chairman.
“We have leased the entire former Whitechapel Hotel and managed to convert the space on a very cost-efficient basis which is now almost fully booked to capacity for H1 2021,” added Friel.
While there were no financial details given regarding the lease of the Whitechapel site, the move will help Open Orphan and hVIVO increase its capacity to facilitate upcoming studies.
Open Orphan's stock price opened up the day over 5% higher trading at 26p following Tuesday's close at 24.8p per share.
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