Venn will conduct a randomized, controlled, open label Phase III study to confirm efficacy and safety of sedation with isoflurane in ventilated ICU patients. The trial is set to begin immediately.
Venn CEO, Tony Richardson commented that he is “pleased to see the addition of a significant new project for Venn, in such a critical area of care as patient sedation.”
“The generation of quality clinical data can be a real value driver for Sedana Medical and we are delighted that they have entrusted their program to us,” he added.
As Outsourcing-Pharma.com previously reported, Venn Life Sciences has several system and process improvement initiatives underway as it continues to look for earnings enhancement opportunities.
The company is currently in the process of selling its innovation division, Innovenn, as it works to reposition itself a year after its acquisition of Kinesis Pharma b.v.
Richardson told us last month that the sale of Innovenn would allow the business to grow as it repositions itself “in such a way that will bring better clarity to the performance of the core business.”
He also noted a strong pipeline of new opportunity going into the second half of the year and that the company continues to see an increase in the average size of project wins – as most recently demonstrated with its Sedana contract.