hVIVO PLC on Tuesday said it is planning a new virology and immunology facility as demand for human challenge trial services grows.
The London-based specialist contract research organisation providing testing for infectious and respiratory vaccine said the facility, based in Canary Wharf, London, will have quarantine bedrooms with up to 50 beds, laboratories, an outpatient unit and corporate offices.
Patients participating in hVIVO’s future phase two and phase three trials will be able to stay at the on-site outpatient unit, the company said.
Completion is expected to in the first quarter of 2024, and the sight will become fully operational in the second quarter.
hVIVO’s current Whitechapel and Queen Mary facilities will close down as a result, but will remain operational until the new site opens.
Chief Executive Officer Yamin Khan said: ‘Consolidating our operations into a single location will lead to improved operational efficiencies, ultimately enhancing our profit margins.
‘We have exercised prudent financial management throughout this expansion, and I am pleased that a number of our clients have contributed to its funding. Their support underscores the urgency and importance of accelerating drug development, and the crucial role that human challenge trials are increasingly playing in the development of new vaccines and antivirals.’
Shares in hVIVO were up 3.9% at 18.17 pence each in London on Tuesday morning.
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