Instem plc Contract win
June 06 2018 - 2:01AM
RNS Non-Regulatory
TIDMINS
Instem plc
06 June 2018
6 June 2018
Instem plc
("Instem")
Contract win
Leading Fortune 500 Company adopts Instem's Samarind RMS
solution for its worldwide medical products regulatory tracking
system
Instem plc (AIM: INS), a leading provider of IT solutions to the
global life sciences market, announces that a leading Fortune 500
medical products and pharmaceuticals company has adopted Instem's
Samarind RMS Software-as-a-Service ("SaaS") solution. The contract
is worth approximately US$750,000 incorporating both perpetual
license and SaaS revenue streams with c. 80% of the contract value
being recognised in 2018 and annual recurring revenue of
US$169,000.
Samarind RMS provides medical device and pharmaceutical
companies with a smarter way to manage their Product Information,
facilitating initial marketing authorisation and supporting ongoing
regulatory compliance. The product is optimised to enable these
companies to register and track their regulated products worldwide
by maintaining a single integrated database of all relevant
information, which is then used to update regulators as products
change over time. The comprehensive functionality provided by
Samarind RMS enables customers to systematically define and execute
complex regulatory activities across a globally dispersed workforce
whilst providing a single place to find, analyse and act on a
wealth of product and regulatory information.
Phil Reason, CEO of Instem plc, said: "This contract win with a
global company, which ranks among the top 25 on the Fortune 500,
continues the good momentum experienced with our regulatory
information management solutions 2017 to date and particularly
Instem's success in the medical device field. We are very pleased
to be delivering this as a SaaS agreement."
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
James White
Walbrook Financial PR +44 (0) 20 7933 8780
Paul Cornelius instem@walbrookpr.com
Helen Cresswell
Sam Allen
About Instem
Instem is a leading provider of IT solutions & services to
the life sciences market delivering compelling solutions for Study
Management and Data Collection; Regulatory Solutions for
Submissions and Compliance; and Informatics-based Insight
Generation.
Instem solutions are in use by customers worldwide and enable
our clients to bring life enhancing products to market faster.
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 500 clients through offices in the United
States, United Kingdom, France, Japan, China and India.
To learn more about Instem solutions and its mission, please
visit instem.com.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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