hVIVO Canary Wharf move to deliver material increase in capacity - Proactive Research Analyst
London, UK
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September 05, 2023 08:42 AM Eastern Daylight Time
Proactive research analyst Daniel Appiah speaks to Thomas Warner at the London studio about his latest report into specialist contract research organisation hVIVO. hVIVO is expanding its presence by establishing a cutting-edge facility at the Canary Wharf Life Sciences Hub in London.
The expansion, primarily funded by its clients, will feature state-of-the-art amenities, including quarantine rooms, laboratories, outpatient facilities, and corporate offices all under one roof. Notably, the new site will initially offer 50 quarantine beds, with plans to expand to 70, significantly surpassing the current Whitechapel and Queen Mary facilities, which can accommodate only 43.
The move enables hVIVO to conduct simultaneous challenge trials for various clients, enhancing efficiency and increasing revenue. hVIVO's H1 results showcased a remarkable 52% YoY revenue increase to approximately £27.3 million, driven by the growth of their challenge trial order book. With a strong cash position and a prepayment model, the company appears set to meet its 2023 revenue guidance of £53 million with an EBITDA between 15% and 90%.
For more details, you can read Daniel's comprehensive report by following the link in the corner.
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