First site of Top Ten Biopharma selects Kneat’s SaaS Platform
LIMERICK, Ireland December 29, 2020/CNW/ – kneat.com, inc. (TSX-V: KSI) (“Kneat”), a company focused on digitizing and automating Validation processes for Life Sciences, is pleased to announce that it’s SaaS platform has been chosen by the first site of another big pharma company.
This top ten R&D focused biopharma leader has more than 70,000 employees across multiple operations in six continents. The site’s initial focus is on Computer System Validation with Equipment, Facilities, and Utilities Validation to follow.
After completing a formal evaluation, Kneat was selected as the preferred solution to deliver on the site’s e-Validation goals. In addition, a proof-of-concept trial was concluded in late 2020 at another one of this company’s sites. Stakeholders from multiple sites participated in this trial and the deployment phase will begin in early 2021. The initial order for the period to the end of December 2021 was received on December 22, 2020. On successful deployment in production, it is expected to expand to other processes and sites globally representing a significant opportunity for expansion of the Kneat software over the coming years.
“We are pleased to engage with another of the world’s largest biopharma manufacturers to provide an end-to-end digital Validation management system,” said Eddie Ryan, Chief Executive Officer of Kneat. “We look forward to working with their team towards a go-live date at this site in Q2 2021”.
Kneat continues to expand its customer base and will report on further significant developments as they occur.
Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx software platform (“Kneat Gx”). Multiple business processes can be configured on Kneat Gx from equipment to computer system validation, through to quality document management. Kneat Gx allows users to author, review, approve, execute testing online, manage any exceptions and post approve final deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects, and processes world-wide. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information, includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization and the compliance of Kneat’s platform under regulatory audit and inspection. While such forward-looking statements are expressed by Kneat, as stated in this release, in good faith and believed by Kneat to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. The forward-looking information in this press release does not include a full assessment or reflection of the unprecedented impacts of the COVID-19 pandemic occurring since the first quarter of 2020 and the ongoing and developing resulting indirect global and regional economic impacts. This has resulted in significant economic uncertainty and even though the company has to date experienced no significant impact to its operations, any potential impact on our future is difficult to understand or measure at this time. Kneat does not undertake any obligation to release publicly revisions
to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors’ own risk.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Hugh Kavanagh, Chief Financial Officer, kneat.com, inc., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: +353 61 203826, E: email@example.com