(Alliance News) - Instem PLC on Thursday said it agreed a new five-year contract with the US government's National Toxicology Programme, further expanding its use of Instem's preclinical software and allowing access to new applications.
The Staffordshire, England-based life science software company said it had renewed its long-standing agreement with the NTP for a year one value of approximately USD2.0 million. The program is run by the US National Institute of Environmental Health Sciences, and supported by the United States Food and Drug Administration and the Centers for Disease Control and Prevention.
Instem said the renewed contract further expands the NTP's use of its Provantis preclinical software, as well as granting access to its genetic toxicology and safety pharmacology study management applications and in silico predictive analytics.
Instem previously held a ten-year contract with the NTP from March 31, 2013 until February 28. Instem said this generated total revenue of approximately USD10.0 million. The NTP's maximum allowable expenditure during the new five-year contract is USD16.5 million.
Phil Reason, Instem's chief executive officer, said: "We are delighted to announce the continuation of our relationship with the NPT and NIEHS. The longevity of the relationship, continued endorsement from a government agency and potential to evolve further as we broaden our in silico presence over the course of the renewal, underpin significant potential to scale.
"Our collaboration over the years...is a perfect case study of how Instem has helped to integrate activities with government agencies, research institutes and CROs, providing data that is shared for insight generation."
Instem said it is still developing AI and predictive analytics-based solutions, which are expected to benefit the relationship with the NPT as it develops.
Shares in Instem were up 3.6% at 650.00 pence in London on Thursday.
By Emma Curzon, Alliance News reporter
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