Revenue at Clinical trials group Venn will be ‘significantly’ over €10m

Clinical trials group Venn Life Sciences expects full-year turnover to come in well ahead of forecast, according to a trading statement released yesterday.

The company, which is scheduled to report 2015 results in May, said revenues would now be “significantly more than double” the 2014 figure of €4.9 million. Venn said they would exceed current market expectations by “at least 15 per cent”.

This indicates a strong end to a year in which Venn acquired rival Kinesis Pharma for up to €6.5 million. In a January update, the company had expected to “at least double”revenues.

The contract research organisation offers outsourced drug development, clinical trial management and other management services to the pharma and medtech sector. It took an Irish listing in January on the junior ESM market. Its main listing is in London.