Cathal Friel’s Hvivo expects record revenue of £50.6 million in 2022

The Dublin-listed company formerly known as Open Orphan has issued a trading update

Cathal Friel, executive chairman and co-founder of Hvivo, which recorded revenue of £50.6 million. Picture: Fergal Phillips

Hvivo, the Dublin-listed pharmaceutical services company founded by Cathal Friel, said it expects to report record full year revenues of £50.6 million for 2022, a 30 per cent increase year-on-year.

The company, formerly called Open Orphan, provides clinical trials and human challenge studies to large pharma and biotech companies. As part of its work, Hvivo, which has around 300 employees, carries out clinical trials on humans.

The significant growth in revenue provides further validation of ...