News Release Details

Kneat continues to consolidate its leadership position in Life Sciences validation, future-proofing industry leaders through digitization and automation

LIMERICK, Ireland, June 28, 2023 /CNW/ - (TSX: KSI) (OTC: KSIOF) Kneat, a leader in digitizing and automating validation and quality processes, is pleased to announce that it has signed a three-year Master Services Agreement ("the Agreement") with a division of a leading global pharmaceutical company. The Agreement is effective immediately and allows the company to scale Kneat across all its business divisions and affiliates.

Implementation of the software, which initially is for computer systems validation and equipment qualification at a European manufacturing site, is expected to go live in Q4 2023. The organization, which is headquartered in Asia and employs over 10,000 people, operates across all stages of pharmaceutical research and development, manufacturing, and marketing.  More than a dozen of its worldwide sites are for R&D and production.

Eddie Ryan, Chief Executive Officer of Kneat, commented, "Each new customer win for Kneat marks the beginning of a new partnership with common goals, the first one being deployment success and early ROI.  Through this phase we are also building the foundational layer for digitalization of many more use cases, ultimately helping our customer to improve the health of more people, the primary objective we all share."

Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next-generation Kneat Gx SaaS platform. Multiple business work processes can be configured on the platform from equipment to computer validation, through to quality document management. Kneat's software 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/ EU Annex 11-compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes globally. 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

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.

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 investor's own risk.

SOURCE kneat.com, inc.