Irish-run Open Orphan gets boost as Covid trials on humans deemed safe

Shares rose 8% to value the company at over €181m

Open Orphan executive chairman Cathal Friel: 'Crucially, we have now successfully established a Covid-19 human challenge model which could be instrumental in accelerating the development of future Covid-19 therapeutics.'

Shares in the Irish-run Open Orphan rose 8% as the company which conducts live trials on viruses said the tests it conducts on humans in London using the Covid-19 virus have been deemed safe. 

It said that a "landmark" study by Imperial College London, the UK's Department of Health, and the Royal Free London Hospital showed its human trials were "safe in healthy young adults and provide detailed insights into the course of Covid-19 infection with potential positive public health implications".

'Human challenge model'

"Crucially, we have now successfully established a Covid-19 human challenge model which could be instrumental in accelerating the development of future Covid-19 therapeutics," said Cathal Friel, the company's executive chairman. 

The shares rose in Dublin by 8% to value the Irish-founded Open Orphan at over €181m. 

Its main unit, called hVivo, conducts human trials on behalf of pharma companies on all types of vaccines, and not just Covid vaccines, before their approval by regulators, in a facility in Whitechapel in London. 

It has in the past secured a contract from the British government. 

It specialises in giving small groups the vaccine or a placebo. 

Vaccinated people are sent home and are recalled after a month to be exposed and monitored in the residential facility to see if the vaccine works. The volunteers receive a tax-free payment of £3,500 (€4,100). 

"First and foremost, we've shown that our challenge infection model was safe and well tolerated in healthy young adult participants," said Christopher Chiu at Imperial College, referring to the study.