hVIVO plc (LON: HVO), a fast-growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, has announced that hLAB, the Group’s standalone virology and immunology laboratory service provider, has signed a new £2.7m contract with a US-based biotechnology client bringing the total value of this project to date to £3.2m.
As part of this new contract, hLAB will act as the only contracted virology lab for an international, multi-site Phase 2 field study for the US biotechnology client’s influenza drug candidate. Study work will commence immediately and hLAB will provide virology and immunology lab services across the 5,000 subjects recruited in this trial. Although hVIVO has provided virology and immunology laboratory services for its internal challenge trials for over 20 years, this is the largest standalone laboratory services contract signed by the Company to date. The majority of the revenue from this contract is expected to be recognised in 2025 with the remainder in 2026. The earlier contract commenced in H2 2024.
hLAB is an industry leader in virology and clinical trial support and has over 20 years of experience performing testing for the Group’s quarantine studies and other client contracted studies. Following hVIVO’s move to its new facility at Canary Wharf, the Company has tripled its laboratory capacity and now offers specialised virology and immunology services for preclinical and clinical drug development as standalone services. This includes assay development, transfer and optimisation, as well as sample handling and processing via its biobank facility.
Yamin ‘Mo’ Khan, CEO of hVIVO, said: “It is wonderful to see hLAB secure its largest contract to date, following the launch of its standalone services in September 2024. hLAB is highly specialised and a leader in its field with over 20 years’ experience in infectious and respiratory disease drug development. This contract underlines another benefit of the move to the Group’s new Canary Wharf facility, with the additional lab capacity enabling hLAB to service standalone contracts in addition to our human challenge trial work, as well as offering field studies. These services support the Group’s ‘optimise, scale and diversify’ growth strategy, by leveraging our existing infrastructure and staff to provide a high-margin new revenue stream.”
