H2 China Market Update
21 December 2021
(“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:
|Phil Reason, CEO||Via Walbrook|
|Nigel Goldsmith, CFO|
|Singer Capital Markets (Nominated Adviser & Broker)||+44 (0) 20 7496 3000|
|Wallbrook Financial PR||Tel: +44 (0) 20 7933 8780|
Instem is a leading provider of IT solutions & services to the life sciences market delivering compelling solutions for Study Management and Data Collection; Regulatory Solutions for Submissions and Compliance; 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 instem.com.