Instem Life Science Systems listed on AIM last week, raising £9.15 million at 175p per share in exchange for shares representing 44.6% of the enlarged share capital.

Instem is a leading provider of IT applications to global biopharmaceutical developers involved in early stage drug development - from late discovery and lead optimisation through to the Phase I clinical evaluation stage. The company's particular focus is on the Early Development Safety Assessment (EDSA) part of this process.

Instem has over 80 customers around the world, including seven of the world’s top ten pharmaceutical companies and seven of the top ten Clinical Research Organisations (CROs) - the average client relationship exceeds 10 years and c.65% of sales are recurring. Instem’s software tools are used to:

• Collect, analyse and report complex scientific data.
• Comply with regulatory reporting requirements.
• Improve quality, consistency and efficiency of information reporting.
• Reduce the time of critical path R&D activities.

Instem intends to continue with its organic growth strategy to help increase its addressable market share and size. However the company also believes that the drug development market is highly fragmented and opportunities exist for accelerated market penetration through acquisitions.

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