16 Oct 2019 07:00
Instem plc
("Instem", the "Company" or the "Group")
Informatics Update - Progressive Equity Research Note Publication
Instem plc (AIM: INS), a leading provider of IT solutions to the global life sciences market provides an update for its Informatics Target Safety Assessment related services to coincide with the publication of a research note by Progressive Equity Research which focuses on the Company's informatics division. This research note can be viewed at www.progressive-research.com.
Informatics Update
As expected, orders for the Company's informatics services have grown rapidly with a 58% increase in the value of orders to circa £0.84 million during the nine months ended 30 September 2019, compared to the equivalent period in 2018 ("comparable period").
Total order numbers grew by 90% during the period with new orders coming from 10 unique clients, compared with six for the comparable period, while the Company also extended relationships with several existing clients. Demand for the Company's gene or drug target specific Target Safety Assessments ("TSA") has increased significantly during 2019 with TSA order count growing by 40%. Instem continues to win the overwhelming majority of all business quoted for.
The Company has a strong new business pipeline with both the number and average value of contracts increasing year on year.
Positive Market Backdrop
Informatics brings Instem into contact with customers at an early stage in the drug development process, helping to cement client relationships through its range of solutions. There is growing demand for TSA services, which determine the viability of developing drugs at an early stage, thereby ensuring that companies are able to make decisions early in the development curve and avoid unnecessary spend.
Phil Reason, CEO of Instem, commented:
"While informatics is currently a relatively small part of our operations, the fact that it is growing so rapidly bodes well for our overall strategy. We are very excited by the potential here and see this as an increasingly important part of our offering."
For further information, please contact:
Instem plc | +44 (0) 1785 825 600 |
Phil Reason, CEO | |
Nigel Goldsmith, CFO | |
N+1 Singer (Nominated Adviser & Broker) | +44 (0) 20 7496 3000 |
Richard Lindley Rachel Hayes | |
Walbrook Financial PR | +44 (0) 20 7933 8780 |
Nick Rome Tom Cooper | instem@walbrookpr.com |
About Instem
Instem is a leading provider of IT solutions & services to the life sciences market delivering compelling solutions for Study Management and Data Collection; Regulatory Solutions for Submissions and Compliance; and Informatics-based Insight Generation.
Instem solutions are in use by customers worldwide and enable its clients to bring life enhancing products to market faster.
Instem's portfolio of software solutions increases client productivity by automating study-related processes while offering the unique ability to generate new knowledge through the extraction and harmonisation of actionable scientific information.
Instem supports over 500 clients through offices in the United States, United Kingdom, France, Japan, China and India. To learn more about Instem solutions and its mission, please visit instem.com.