Open Orphan Plc has acquired hVIVO plc. On March 9, 2020, Open Orphan announced that it will shortly be posting letters to shareholders of hVIVO who did not accept the offer made by the company, confirming completion of the compulsory acquisition of all remaining hVIVO shares, which occurred today, pursuant to the provisions of sections 974-991 of the Companies Act 2006. Following the transaction, Trevor Phillips and Tim Sharpington become CEO and COO, respectively, of the enlarged group.

The offer represents a value of approximately GBP0.1556 per hVIVO share and a premium of 33.8% based upon the hVIVO closing price on December 6, 2019, being the latest practicable date prior to the date of this announcement. Arden Partners plc acted as exclusively and respectively for Open Orphan, J&E Davy has been appointed as Euronext Growth Advisor and broker. MCF Ltd. and Numis Securities plc acted as exclusively and respectively for hVIVO.

The combination of the businesses will result in synergies across the enlarged group with each business providing complementary services with limited overlap in existing capabilities and customers.