20 Feb 2014 07:00
20 February 2014
Instem plc
("Instem", or the "Company")
Three-Year SaaS Contract with Leading Pharmaceutical Company
ACIS to be used at multiple sites
Instem plc (AIM: INS), a leading provider of IT solutions to the global early development healthcare market, is pleased to announce a three year contract with a top 10 global pharmaceutical organisation for its Animal Care Information System (ACIS). The contract is worth US$200,000 annually and will enhance Instem's recurring Software-as-a-Service (SaaS) revenues which already exceed US$2 million per annum.
ACIS is a software solution, which improves operational efficiency, animal welfare, regulatory compliance and reporting in preclinical research facilities. Instem distributes ACIS globally, in line with its strategy to exclusively offer third party technologies that meet similar exacting criteria to its own world-leading proprietary products.
The client has been live with ACIS in the UK since 2011 and is now transitioning to a SaaS model and replacing several third party and in-house solutions, across its global operations. With first deployments of ACIS in both mainland Europe and North America, this contract will provide important additional reference locations. The client is also a significant user of a broad portfolio of Instem's other solutions, reinforcing Instem's strategy to deepen customer relationships and provide opportunities to cross-sell and up-sell further solutions to its substantial existing client base.
Phil Reason, CEO of Instem plc, commented,
"We are delighted to extend our relationship with this top 10 global pharmaceutical company through the deployment of ACIS across its pre-clinical facilities in Europe and North America. The ability to offer complementary products like ACIS not only increases our addressable market but also deepens our relationships with existing clients, who are increasingly turning to Instem to provide a wider range of software solutions, all focused on ensuring compliance, shortening drug development time and reducing costs. "
"The fact we are able to offer a SaaS based software solution on a fully hosted basis further enhances our client proposition and should lead to further opportunities within this highly fragmented market."
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 Nick Owen
| |
Newgate Threadneedle | +44 (0) 20 7653 9850 |
Fiona Conroy | |
Josh Royston | |
Jasper Randall |
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 established 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 additional locations in India and a full service distributor based in Japan.
To learn more about Instem solutions and its mission, please visit www.instem.com or its investor centre http://investors.instem.com/