19 Jan 2011 07:00
19 January 2011
Embargoed for 07:00
Instem Life Science Systems plc
("Instem" or the "Company")
Pre-Close Trading Update
Instem Life Science Systems plc (AIM:INS.L), a leading provider of IT applications to the global early development healthcare market, is pleased to give an update on trading for the year ended 31 December 2010.
Profit performance for the period was in line with management's expectations. The year was marked by the successful Admission to AIM in October 2010, raising funds to enable the implementation of an acquisition strategy to complement organic growth. The Board continues to explore several prospective acquisition opportunities and will provide further updates when appropriate.
Instem has continued to increase its dominance in the Early Development Safety Assessment market adding several significant new customers to its roster. Additionally the Company has made further advances into the broader early development IT applications market through the launch in October 2010 of its new product suite, Centrus™. Several of the world's leading Contract Research Organisation and pharmaceutical businesses have been early adopters of Centrus, which the Directors' believe bodes well for future progress.
Final results for the year ended 31 December 2010 will be announced on 22 March 2011.
Phil Reason, CEO of Instem Life Science Systems plc, commented, "2010 has been an outstanding year for Instem. We are delighted to have been able to welcome new shareholders in October through our Admission to AIM and to have made progress with both our organic and acquisitive growth strategies. We look forward to giving a further update on progress in our preliminary results announcement in March."
For further information, please contact:
Instem Life Science Systems plc | +44 (0) 1785 825600 |
Phil Reason, CEO | |
Jim McLauchlan, CFO | |
Brewin Dolphin - Financial Advisor, Broker & NOMAD | +44 (0) 0845 213 4730 |
Mark Brady | |
Sean Wyndham-Quin | |
Threadneedle Communications | +44 (0) 20 7653 9850 |
Caroline Evans-Jones | |
Fiona Conroy | |
About Instem Life Science Systems plc
Instem (AIM:INS.L) is a leading supplier of IT solutions to the early development healthcare market. Instem's study management solutions accelerate drug and chemical development by increasing productivity, automating processes and enhancing practices that lead to safer and more effective drugs.
Instem has over 80 customers in North America, Europe, China, India and Japan, including seven of the top ten pharmaceutical and biotech companies such as GlaxoSmithKline and AstraZeneca. The Company employs over 100 people in six offices in the U.S, UK, and China; with additional resource locations in India and a full service distributor in Japan. It is estimated that approximately half of the world's pre-clinical drug safety data has been collected over the last 20 years via Instem software.
To learn more about Instem please visit the Company's website, www.instem-lss.com, or its investor centre http://investors.instem-lss.com/.