14 May 2015 07:00
Instem plc("Instem" or "the Group")
Instem ALPHADAS Contract Wins
Instem plc (AIM: INS.L), a leading provider of IT solutions to the global early development healthcare market, announces that it has won three contracts for its ALPHADAS product suite worth approximately £1.4 million.
The three new contract wins across mainland Europe, Canada and the USA comprise two new customers and an expansion contract with an existing customer. Instem will deploy the ALPHADAS product suite on one additional site for the existing customer and across eight sites with the two new customers. As the majority of the total £1.4 million contract value comprises perpetual license fees, professional services and ongoing maintenance, it is expected that most of this revenue will be recognised in the current financial year.
Instem entered the Early Phase Clinical market in 2013 with the acquisition of Logos Technologies and their product suite ALPHADAS. Since the acquisition, ALPHADAS revenue has grown strongly and is now a core offering of the Group.
Phil Reason, CEO of Instem plc, commented: "These three new contract wins evidence the improving market backdrop in PreClinical that we have been experiencing over the past twelve months, which has now stimulated increased activity in the Early Phase Clinical market. We believe we won these contracts, with both new and existing clients, due to our comprehensive product suite in combination with the market leading expertise of our clinical team and the overall strength of the Group."
We believe that these contract wins are likely to stimulate further ALPHADAS opportunities and therefore we look forward with optimism for the current financial year."
For further information, please contact:
Instem plc | Tel: +44 (0) 1785 825 600 |
Phil Reason, CEO | www.instem.com |
Nigel Goldsmith, CFO |
|
|
|
N+1 Singer (Nominated Adviser & Broker) | Tel: +44 (0) 20 7496 3000 |
Richard Lindley |
|
Nick Owen |
|
|
|
Walbrook PR Ltd | Tel: +44 (0) 20 7933 8780 or |
Paul Cornelius | instem@walbrookpr.com |
Sam Allen |
|
Helen Cresswell |
|
About Instem
Instem is a leading supplier of IT applications to the early development healthcare market, delivering compelling solutions for data collection, management and analysis across the R&D continuum. Instem applications are in use by customers worldwide, meeting the rapidly expanding needs of life science and healthcare organizations for data-driven decision making leading to safer, more effective products.
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 harmonization of actionable scientific information.
Instem supports over 400 clients through full service offices in the United States, United Kingdom and China with an additional location in India and a full service distributor based in Japan.
To learn more about Instem solutions and its mission, please visit www.instem.com