Investors

Watch hVIVO’s July 2025 Capital Markets Day here

hVIVO is a publicly traded company on the London Stock Exchange AIM Market under the symbol HVO

Yamin 'Mo' Khan

CEO at hVIVO

"2024 demonstrated further evidence of the strength of our long-term sustainable growth model, with record revenue and EBITDA coupled with strong cash generation. An increasing number of global biopharma companies have expressed their interest in our world-leading services, with additional models in various new indications underlining the value that HCTs can offer to the development of innovative new therapies.

"We look forward to delivering further progress in 2025 as we integrate our new revenue streams and build towards our £100 million revenue target in 2028."

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Regulatory News

Investment Case

World Leading Capabilities

hVIVO is the world leader in using human challenge clinical trials to test infectious and respiratory disease vaccines and treatments.
The Company’s history dates back to 1945 to the Salisbury Common Cold unit, which explored the causes of respiratory disease.
hVIVO conducts its trials in its state-of-the-art quarantine facility in London, which is the largest of its kind worldwide.
hVIVO boasts an industry leading volunteer recruitment database, FluCamp, which has over 370,000 volunteers.

Robust Financials

hVIVO delivered another year of record financials, with revenue up 11.9% to £62.7 million and EBITDA margins at record levels at 26.2% in 2024.
The Company is debt free, pays a regular dividend, and boasts a highly cash generative business model, with £44.2 million in cash as at 31 December 2024.

Clear Growth Strategy

hVIVO has a clear growth strategy to ‘Optimise, Scale and Diversify’ its business to deliver long-term growth.
Strong organic growth complemented by small bolt-on acquisitions in hVIVO’s areas of core competence.
The company completed the acquisition of two Clinical Research Units from CRS, and temperature-controlled storage solutions provider Cryostore in Q125.
The Board has a target to grow Group revenue to £100 million by 2028.

Positive Market Dynamics

hVIVO inoculated a record number of volunteers in 2024, continuing a trend of consistent growth, a clear sign of the growing adoption of human challenge trials by the global biopharma industry.
The Company has a robust orderbook of £67 million which provides good visibility into 2025 and 2026.
Demand for hVIVO’s services continues to be high with the Company boasting its strongest ever sales pipeline.

High Barriers to Entry

hVIVO optimises its human challenge models after every trial, ensuring each is robust and can deliver clear insights into the efficacy of new vaccines and antivirals.
The Company has world-leading expertise and experience in delivering highly specialised trials over decades.
hVIVO has built extensive infrastructure to deliver its trials, including a state-of-the-art quarantine clinic in a high-density population.

Trusted Partner

hVIVO is a full-service CRO that delivers its services to seven of the top 10 largest biopharma companies in the world.
The company has a growing list of biotechnology clients that value the quick cost-efficient efficacy data that human challenge trials can provide.
Human challenge trials are increasingly accepted by international regulators, with successful trials often leading to FDA Fast Track or Breakthrough designations.

End-To-End Early Clinical Development Services

hVIVO

Venn Life Sciences

CRS

hLAB

Cryostore™

FluCamp

A specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and therapeutics using human challenge clinical trials, providing end-to-end early clinical development services for our broad and longstanding global client base of biopharma companies.

Learn more

Two lab technicians inspecting test tubes

Venn Life Sciences is an Integrated Drug Development partner offering a unique combination of drug development consultancy, clinical trial design and execution.

Visit Venn Life

CRS is a leading early phase CRO with state-of-the-art research units in Germany, excelling in innovative solutions for early clinical development, from First-in-Human studies to Proof-of-Concept trials in patients.

Visit CRS

hLAB is a highly specialised virology and immunology laboratory offering a suite of services to support pre-clinical and clinical respiratory drug and vaccine discovery & development.

Visit hLAB

Cryostore™ is a dedicated GxP storage facility for biological and clinical materials in secure temperature-controlled conditions offering offsite, ultra-low temperature-controlled conditions for the pharmaceutical, biotechnology and healthcare industries.

Visit Cryostore