Instem plc Instem ALPHADAS Contract Wins (1232N)
May 14 2015 - 2:01AM
UK Regulatory
TIDMINS
RNS Number : 1232N
Instem plc
14 May 2015
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 GBP1.4 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
GBP1.4 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 Tel: +44 (0) 20 7496 3000
& Broker)
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
This information is provided by RNS
The company news service from the London Stock Exchange
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