hVIVO is hitting record numbers across all the key financial parameters
“…And it’s just a matter of time before those are reflected in the share price. We are actively looking to add new institutions to our share register…”
When you take over the reins of a multi-million pound company, you hope that the occasion will be a memorable, even auspicious one.
In the case of Yamin ‘Mo’ Khan, his first day as chief executive of hVIVO (née Open Orphan) coincided with Putin’s invasion of Ukraine.
In the ten months since he became the boss a lot has happened including addressing the company name that was confusing the market. In February the name was Open Orphan and in October it was changed to that of its well established subsidiary hVIVO.
Khan points out ‘orphan’ is associated with rare diseases, and the company is the world leader in testing infectious and respiratory disease products using human challenge clinical trials. Infectious disease is different to rare disease, and the name change reduced overheads as the company had one less brand to carry and paved the way for the creation of “a much bigger, better and a more appropriate brand under hVIVO.”
The business is indeed growing. It made record sales last year hitting its global annual sales targets in August, and has over 80% of contract revenue already signed for next year. Khan says the number of queries being received from potential customers are “greater than they’ve ever been” and the sales pipeline of potential challenge trials being discussed with clients is valued at over £300 million.
Khan just needs to convert those client conversations into contracts.
And while he likes numbers, he likes what the company does more. In this interview, Mo tells Sarah Lowther about the life changing vaccine hVIVO expedited for Pfizer in its role as challenge trial provider. Next year that pharmaceutical giant launches the first ever vaccine against RSV (respiratory syncytial virus) and Khan says ‘because of that trial, that drug, that vaccine will get to market two years ahead of time that will save hundreds of thousands of lives. And to be able to say you have that kind of impact on the real world, I think it’s so huge.”
Below, Mo talks to BRR Media’s Rosie Riall about the company’s name change
Watch hVIVO’s senior management present at November 2022’s Capital Markets Day
Access the company’s latest financial results presentation
Follow the company on Twitter @hVIVO_UK
The author was remunerated but does not hold shares in the company