Instem plc Four SEND related contract wins (9698T)
April 04 2016 - 2:00AM
UK Regulatory
TIDMINS
RNS Number : 9698T
Instem plc
04 April 2016
4th April 2016
Instem plc
("Instem", the "Company" or the "Group")
Four SEND related contract wins
Growing adoption of submit(TM) with maiden SEND related orders
in Japan since incorporating the Tokyo office.
Instem plc (AIM: INS), a leading provider of IT solutions to the
global early development healthcare market, announces four new
contract wins for its submit(TM) solution suite and related
consultation services, worth a combined value of over US$0.8
million.
Contract Wins
The largest of the four wins is with a global top ten
pharmaceutical company, which is an existing Instem customer. The
organisation has purchased Instem's entire submit(TM) solution
suite with software licences being deployed immediately.
Two of the other three contracts are for companies in Japan
developing new products that they anticipate submitting to the US
Food & Drug Administration ("FDA") for regulatory approval. The
remaining contract is with a leading Contract Research Organisation
in China, which is already receiving requests from its clients
regarding provision of SEND data sets at the conclusion of
contracted studies.
In aggregate, all four contracts are comprised of a mixture of
perpetual software licence fees, annual support and professional
service fees. The combined total is in excess of US$0.8 million and
will be largely recognised in the current financial year.
SEND Submit(TM)
The FDA's 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, who have been instrumental in the
development of the standard over the last 10 years, have been in
high demand advising teams across the drug development community
over the past 18 months on the implications of this new regulatory
mandate. This frequently results in organisations implementing
some, or all, of Instem's submit(TM) solution suite to create,
manage, review, store and transfer SEND data for accurate
submissions to the FDA, or to contract with Instem to convert their
study data into fully compliant SEND data sets, ready for
submission.
Phil Reason, CEO of Instem plc, commented; "We are delighted to
have extended our relationship with a top ten global pharmaceutical
company while securing our first SEND related contracts in Japan
since incorporating an office in Tokyo in 2015. These contracts,
plus the one in China, underpin our expectations for the Group for
the year and further illustrate how Instem is cementing deeper,
longer lasting relationships with its clients as the Company
continues to benefit from the FDA mandate requiring pre-clinical
study submissions to comply with SEND."
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
Walbrook Financial PR +44 (0) 20 7933 8780
Paul Cornelius instem@walbrookpr.com
Helen Cresswell
Sam Allen
Paul Whittington
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
This information is provided by RNS
The company news service from the London Stock Exchange
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