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Venn Life Sciences Holdings

  • BY: Andrew Hore |
  • POSTED: 18/05/2014 |

Clinical research services provider Venn Life Sciences Holdings has been awarded a multi-country study valued at more than 3m and further project wins are expected over the coming months. 

The study for a European biotechnology company covers seven countries in Europe and the US and lasts more than 18 months. Prior to this, the deal pipeline was worth more than 11.5m.

In 2013, revenues declined from 2.68m to 2.04m and the loss increased from 1.15m to 1.82m.

Net cash was 216,000 at the end of 2013. Since then, 1m has been raised at 19p a share.

Earlier this year, Venn acquired Germany-based CRM Clinical Trials 600,000 in shares at 26p each plus Labskin IP from Evocutis for 210,000 in share at 24p each.

Revenues should grow strongly in the second half of 2014.

At 20.5p a share, Venn is valued at 5.78m.

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