Instem plc Informatics Update: Progressive Equity Note
October 16 2019 - 2:00AM
RNS Non-Regulatory
TIDMINS
Instem plc
16 October 2019
Instem plc
("Instem", the "Company" or the "Group")
Informatics Update - Progressive Equity Research Note
Publication
Instem plc (AIM: INS), a leading provider of IT solutions to the
global life sciences market provides an update for its Informatics
Target Safety Assessment related services to coincide with the
publication of a research note by Progressive Equity Research which
focuses on the Company's informatics division. This research note
can be viewed at www.progressive-research.com.
Informatics Update
As expected, orders for the Company's informatics services have
grown rapidly with a 58% increase in the value of orders to circa
GBP0.84 million during the nine months ended 30 September 2019,
compared to the equivalent period in 2018 ("comparable
period").
Total order numbers grew by 90% during the period with new
orders coming from 10 unique clients, compared with six for the
comparable period, while the Company also extended relationships
with several existing clients. Demand for the Company's gene or
drug target specific Target Safety Assessments ("TSA") has
increased significantly during 2019 with TSA order count growing by
40%. Instem continues to win the overwhelming majority of all
business quoted for.
The Company has a strong new business pipeline with both the
number and average value of contracts increasing year on year.
Positive Market Backdrop
Informatics brings Instem into contact with customers at an
early stage in the drug development process, helping to cement
client relationships through its range of solutions. There is
growing demand for TSA services, which determine the viability of
developing drugs at an early stage, thereby ensuring that companies
are able to make decisions early in the development curve and avoid
unnecessary spend.
Phil Reason, CEO of Instem, commented:
"While informatics is currently a relatively small part of our
operations, the fact that it is growing so rapidly bodes well for
our overall strategy. We are very excited by the potential here and
see this as an increasingly important part of our offering."
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
Rachel Hayes
Walbrook Financial PR +44 (0) 20 7933 8780
Nick Rome instem@walbrookpr.com
Tom Cooper
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
its 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.
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END
NRALLFLEIVLELIA
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