Venn Life Sciences signs contracts worth over €3.4m

Dublin-based clinical research group Venn Life Sciences has signed new contracts worth over €3.4 million with a leading unnamed US-based biotechnology client, the company said on Tuesday.

The AIM-listed Irish company provides clinical trial management to pharmaceutical, biotech and medical device companies.

Venn said the new contracts are extensions of an existing Phase II programme. The work is to commence immediately and run until the end of 2017 in multiple US and European sites.

"It is particularly pleasing to win this business at the commencement of the new year. 2015 was a year of significant growth at Venn and new business wins of this magnitude will enable us to continue expanding our business," said chief executive Tony Richardson.

The group reported revenue of €4.9 million for 2014, up 140 per cent on the €2.04 million announced a year earlier.