REG-Tern PLC Tern PLC: New commercial order for FundamentalVR

TernAnnouncement

25/07/2019 15:25

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   Tern PLC (TERN)
   Tern PLC: New commercial order for FundamentalVR

   25-Jul-2019 / 15:25 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   This announcement contains inside information for the purposes of  Article
   7 of EU Regulation 596/2014.

   25 July 2019

                       Tern Plc ("Tern" or the "Company")

                     New commercial order for FundamentalVR

   Tern Plc (AIM: TERN), the investment company specialising in the  Internet
   of  Things   ("IoT"),  is   pleased  to   announce  that   FVRVS   Limited
   ("FundamentalVR"), a  leading virtual  reality  ("VR") training  and  data
   analysis  technology  platform,  and  one  of  Tern's  existing  portfolio
   companies, has secured an order of approximately £0.5 million to create an
   additional VR simulation,  for one of  the world's leading  pharmaceutical
   companies. This is the second order in a planned series of virtual reality
   simulations specifically designed to support that pharmaceutical company's
   ambitions to accelerate the safe and compliant use of their products.  The
   majority of this order will be completed during 2019. 

   FundamentalVR's award winning platform combines immersive virtual  reality
   with cutting-edge  haptics (the  sense of  touch) to  create low-cost  and
   scalable simulation  experiences,  to offer  a  new way  to  allow  skills
   development for surgeons and medical professionals.

   This second implementation will be used to teach surgeons how to  practice
   safe administration of  the product,  enabling the  individual surgeon  to
   benchmark their skills against a recommended approach to provide data they
   can use to improve patient outcomes.

   The multi-stage  virtual  reality approach  has  become the  template  for
   product education by the pharmaceutical client, utilising  FundamentalVR's
   virtual reality with haptics platform.

   Tern CEO, Al Sisto, said, "We're pleased to note this follow-on order  for
   FundamentalVR. We have found  that the adoption of  its platform has  been
   key in accelerating the competency  and confidence surgeons now have  when
   it comes  to  using  medical devices  and  practicing  innovative  medical
   procedures, with FundamentalVR having the ability to shorten the time  for
   market acceptance. We look forward  to announcing further adoption of  the
   platform in due course."

                                    **ENDS**

   Enquiries

   Tern plc

   Al Sisto, CEO
                                     Via Newgate Communications
   Sarah Payne, Finance Director

    
    

   Allenby Capital Limited
                                      
   (Nomad and Joint broker)
                                     Tel: 020 3328 5656
   David Worlidge/Alex Brearley

    
    

   Whitman Howard
                                      
   (Joint broker)
                                     Tel: 020 7659 1234
   Nick Lovering/Christopher Furness

    
    

   Newgate Communications             

   PR                                Tel: 020 3757 6880

   Elisabeth Cowell/Fiona Norman

    

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   ISIN:          GB00BFPMV798
   Category Code: MSCH
   TIDM:          TERN
   LEI Code:      2138005F87SODHL9CQ36
   Sequence No.:  14688
   EQS News ID:   847089


    
   End of Announcement EQS News Service

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