Top Ten Biopharmaceutical Company Selects Kneat as its Enterprise Platform
- Kneat Now Counts Eight of the Top Ten Global Pharmaceutical Companies as Customers
LIMERICK, Ireland, March 17, 2022 /CNW/ – kneat.com, inc. (TSX: KSI) (“Kneat” or “the Company”), a leader in digitizing and automating validation and quality processes, is pleased to announce it has signed a three-year Master Services Agreement with another of the world’s top ten life sciences companies.
This European-headquartered company has more than 50 manufacturing sites and over 90,000 employees across more than 90 countries. After an extensive evaluation process, the corporate team selected Kneat as their global enterprise solution for Commissioning, Qualification and Verification (CQV). With the signing of this Master Services Agreement, eight of the top ten largest life sciences companies have selected Kneat as their enterprise validation platform.
The Agreement is effective immediately and allows the company to scale Kneat across all its business divisions and affiliates. The company’s plan is to implement Kneat in several phases across more than 50 sites over the next three years, representing a substantial opportunity for expansion of SaaS licenses. Implementation will commence immediately, with an expected phase 1 go-live date in Q3 2022.
Eddie Ryan, Chief Executive Officer of Kneat, commented, “Today’s announcement affirms Kneat’s best-in-class validation platform is the preferred solution for leading life sciences companies. Our solution is supporting these companies to deliver therapies to the highest level of quality and compliance.”
Building on their market leadership, Kneat is also driving adoption in the mid-market and supply chain of the life sciences industry, and in the consumer packaged goods industry.
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 system 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/ Eudralex 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
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.
For further information:
Hugh Kavanagh, Chief Financial Officer
P: +353 61 203826
James Bowen, Kneat Investor Relations
P: + 1 416-519-9442