Instem plc Contract Win
June 03 2020 - 2:01AM
RNS Non-Regulatory
TIDMINS
Instem plc
03 June 2020
Instem plc
("Instem" or the "Company")
Contract Win
Leading South Korean Contract Research Organisation adopts
extensive suite of Preclinical Software and SEND Management
Solutions
Instem plc (AIM: INS), a leading provider of IT solutions to the
global life sciences market, announces that it has won a contract
with Biotoxtech, a prominent non-clinical Contract Research
Organization in South Korea. The contract is worth approximately $1
million, the majority of which will be recognised as revenue in
2020 and the balance in 2021.
Instem will provide a comprehensive package of preclinical data
collection, analysis and regulatory submissions management
solutions to automate and optimize study related processes at
Biotoxtech's R&D facility in South Korea's North Chungcheong
Province. Founded in 2000, Biotoxtech operates the largest R&D
facility within South Korea and was the first in the region to
receive certifications for Good Laboratory Practices by
international regulators, including the US Food & Drug
Administration.
The contract was awarded following a detailed competitive
evaluation, in which Instem was recognized by the client as the
global leader in the field of non-clinical IT solutions and the
architect of the world's leading technology for the creation of
SEND submissions.
Phil Reason, CEO of Instem plc, said: "We are delighted with our
latest contract win, which further demonstrates our ability to
build on the strong momentum achieved last year and provides
additional visibility over this year's targets. South Korea has
been investing heavily in its pharmaceutical R&D capabilities
and has become a significant player on the global stage. We
continue to have a strong footprint in the Asia-Pacific region and
are working hard to ensure that we maintain our world leading
market position - especially in the current climate."
For further information, please contact:
Instem plc Via Walbrook
Phil Reason, CEO
Nigel Goldsmith, CFO
N+1 Singer (Nominated Adviser
& Broker) +44 (0) 20 7496 3000
Peter Steel
Rachel Hayes
Walbrook Financial PR +44 (0) 20 7933 8780
Tom Cooper instem@walbrookpr.com
Nick Rome
Nicholas Johnson
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 over 500 customers worldwide,
including all the largest 25 pharmaceutical companies, enabling
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 products and services address aspects of the entire drug
development value chain, from discovery through to market launch.
Management estimate that over 50% of all drugs on the market have
been through some part of Instem's platform at some stage of their
development.
To learn more about Instem solutions and its mission, please
visit www.instem.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRAKKBBQFBKDKAK
(END) Dow Jones Newswires
June 03, 2020 02:01 ET (06:01 GMT)
Instem (LSE:INS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Instem (LSE:INS)
Historical Stock Chart
From Jul 2023 to Jul 2024