H2 China Market Update
21/12/2021 06:59
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RNS Number : 2695W Instem plc 21 December 2021
Instem plc
("Instem" or the "Company")
H2 China Market Update
Strong SaaS growth with new and existing clients
Instem plc (AIM: INS), a leading provider of IT solutions to the global life
sciences market, announces further progress in the Chinese market in the
second half of this financial year. Contract successes include Provantis®
preclinical software solution suite orders for a significant number of
additional licensed users from two long-standing customers, reinforcing
Instem's strong existing relationships, and four additional new clients. All
of these orders are Software-as-a-Service ("SaaS") subscriptions.
Instem will provide the new customers with solutions incorporating a range of
modules across areas including general toxicology, clinical pathology,
pathology and implementation services. The deals highlight the strength of the
Company's position in the Chinese market, with the SaaS platform providing
increasing earnings visibility and underlying margins growth.
Phil Reason, CEO of Instem plc, said: "We are very pleased to achieve these
contracts, demonstrating the strength of our long-standing client
relationships, the continuing transition to SaaS, as well as momentum in
securing new business. The two existing customers have been clients for over
seven years, illustrating the long-term nature of our relationships and how
Instem supports its clients' growth.
"As reflected in our interim statement, Instem continues to capitalise on its
market-leading position in China with these orders, highlighting the health of
the early-phase R&D pipeline in this substantial market."
For further information, please contact:
Instem plc Via Walbrook
Phil Reason, CEO
Nigel Goldsmith, CFO
Singer Capital Markets (Nominated Adviser & Broker) +44 (0) 20 7496 3000
Peter Steel
Alex Bond
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
Regulatory Submissions, Clinical Trial Acceleration, and Informatics-based
Insight Generation.
Instem solutions are in use by over 700 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 (http://www.instem.com/)
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