Contract Win Worth Over $1m

RNS Number : 2595Q

Instem Life Science Systems plc

17 October 2011

 



17 October 2011

Embargoed for 07:00

Instem Life Science Systems plc

("Instem", the "Company" or the "Group")

Contract Win worth over $1m with Top 5 Pharma Company

Provantis to be deployed Globally via SaaS to Replace Incumbent System

Instem Life Science Systems plc (AIM: INS.L), a leading provider of IT applications to the global early development healthcare market, announces that following a competitive evaluation, it has won a four-year contract with one of the five largest pharmaceutical organisations for its Provantis solution suite, the Group's industry leading preclinical data management system.

The client previously used traditional on-site software from multiple suppliers and the use of Provantis will consolidate several key application areas and harmonise the client's sites worldwide.

Provantis will be delivered via Instem's Software-as-a-Service (SaaS) delivery model from its US-based data centre. The use of SaaS lowers the client's infrastructure and support costs, while enabling more frequent upgrades for access to the latest features and functions. The SaaS delivery alternative was introduced by Instem in 2006, and increases the Group's recurring revenues whilst adding to the visibility of future business.

The contract has been signed for an initial four years and is worth a total consideration of $1,085,000 with on-line deployment starting this year.

Phil Reason, CEO of Instem plc, comments "We are delighted to have contracted additional Provantis modules to such a prestigious top five pharmaceutical company, and it is testament to our quality offering that we have replaced their incumbent system. It is a continuing trend in the industry that large pharma are consolidating their IT systems and vendors as the cost of research & development rises. The switch to SaaS delivery for such systems is also a key industry trend; Instem launched its SaaS delivery to target the smaller laboratory market, but has also seen increasing interest from large pharmaceutical companies.

"These trends are encouraging for Instem as we are well poised to support organisations of all sizes as they look to meet the demand for growth while increasing efficiencies."

For further information, please contact:

Instem Life Science Systems plc	[phone]
Phil Reason, CEO
David Sherwin, Interim CFO
Brewin Dolphin -  Financial Advisor, Broker & NOMAD	[phone]
Mark Brady
Sean Wyndham-Quin
Threadneedle Communications	[phone]
Caroline Evans-Jones
Fiona Conroy

About Instem Life Science Systems plc

Instem (AIM:INS.L) is a leading supplier of IT solutions to the early development healthcare market. Instem's pre-clinical study management solutions accelerate drug and chemical development by increasing productivity, automating processes and enhancing practices that lead to safer and more effective drugs.

In March 2011 Instem acquired BioWisdom Limited, a leading provider of software solutions for extracting intelligence from R&D related healthcare data. The acquisition broadened and strengthened Instem's Centrus™ product suite, accelerating the product development roadmap.

Instem has over 130 customers in North America, Europe, China, India and Japan, including sixteen of the top twenty pharmaceutical and biotech companies such as GlaxoSmithKline and AstraZeneca. The Company employs over 110 people in six offices in the U.S, UK, and China; with additional resource locations in India and a full service distributor in Japan. It is estimated that approximately half of the world's pre-clinical drug safety data has been collected over the last 20 years via Instem software. 

To learn more about Instem please visit the Company's website, www.instem.com, or its investor centre http://investors.instem.com/.

 

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