Contract Win worth over $1m with Top 5 Pharma Company
17 October 2011
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 plc | www.instem.com |
| Phil Reason, CEO | +44 (0) 1785 825600 |
| Nigel Goldsmith, CFO | |
| N+1 Singer (Nominated Adviser & Broker) | +44 (0) 20 7496 3000 |
| Richard Lindley | |
| Nick Owen | |
| James White | |
| Wallbrook Financial PR | Tel: +44 (0) 20 7933 8000 |
| Paul Cornelius | or instem@walbrookpr.com |
| Sam Allen | |
| Helen Cresswell | |
| Paul Whittington |
About Instem
Instem is a leading supplier of IT applications to the early development healthcare market delivering compelling solutions for data collection, management and analysis across the R&D continuum. Instem applications are in use by customers worldwide, meeting the rapidlyexpanding needs of life science and healthcare organisations for data-driven decision making leading to safer, more effective products.
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 harmonization of actionable scientific information.
Instem supports over 450 clients through full service offices in the United States, United Kingdom and China with additional locations in Japan and India.
To learn more about Instem solutions and its mission, please visit instem.com.