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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