hVIVO announces move to "good facility at a very good price"
London, UK
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August 31, 2023 05:48 AM Eastern Daylight Time
hVIVO PLC (AIM:HVO) chief executive Mo Khan speaks to Thomas Warner from Proactive after the specialist contract research organisation announced plans for a new state-of-the-art consolidated challenge trial facility at the life sciences hub in Canary Wharf, London.
The expansion, largely funded by hVIVO clients, reflects a growing order book and increasing demand for its human challenge trial services, the company said in a statement. The move involves bringing together quarantine beds, laboratories, and corporate offices into one facility. Notably, the new space will accommodate up to 70 quarantine beds, a significant increase from the previous capacity.
The enhanced laboratory space will enable more concurrent studies, fostering revenue growth. He notes that hVIVO's "hugely successful screening facilities in Plumbers Row in East London and in Manchester will remain at their current locations, but the rest of the company will be consolidating into one facility." The phased move is expected to be completed in Q2 of the coming year and promises expanded capabilities, operational efficiency, and sustained growth for hVIVO.
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