15 Mar 2016 07:00
Instem plc
("Instem", the "Company" or the "Group")
Two SEND submit™ contract wins worth $0.8m
Instem plc (AIM: INS), a leading provider of IT solutions to the global early development healthcare market, announces two new contracts for its submit™ solution suite worth a combined value of approximately $0.8million, which will be largely recognised in the current financial year.
These contracts will commence immediately and predominantly comprise of perpetual software licence fees. They extend our existing activities with these customers, who are both top 25 global pharmaceutical companies.
The FDA's ("Food and Drug Administration") SEND ("Standard for Exchange of Nonclinical Data") initiative was ratified in December 2014 and its implementation is now a market imperative for the entire drug development industry.
SEND experts at Instem have been advising teams across the drug development community over the past 18 months on the implications of the new SEND protocol and how to effectively implement its submit™ solution to create, manage, review, store and transfer SEND data for accurate submissions to the FDA.
Phil Reason, CEO of Instem plc, commented; "We are delighted to extend our relationship with two existing customers. This provides further evidence of how Instem is starting to benefit from the FDA mandate requiring pre-clinical study submissions to comply with SEND."
"The Instem team has led and participated in the creation of the SEND standard for over 10 years and brings over 30 years of experience in developing, delivering and supporting world-class nonclinical systems and solutions for the scientific community. I am delighted to say that our submit™ solution continues to be the most widely licensed set of SEND tools around the world, installed in over 34 sites across 12 countries, helping our customers achieve successful submissions to the FDA."
For further information, please contact:
Instem plc | +44 (0) 1785 825 600 |
Phil Reason, CEO |
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Nigel Goldsmith, CFO |
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N+1 Singer (Nominated Adviser & Broker) | +44 (0) 20 7496 3000 |
Richard Lindley Nick Owen |
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Walbrook Financial PR | +44 (0) 20 7933 8000 |
Paul Cornelius | instem@walbrookpr.com |
Helen Cresswell Sam Allen Paul Whittington |
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About Instem plc
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 organisations 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 harmonisation of actionable scientific information.
Instem supports over 400 clients from offices in the United States, the United Kingdom, India, China and Japan, with an additional presence in France.
To learn more about Instem solutions and its mission, please visit www.instem.com