Top Ten Global Biopharma Selects Kneat’s SaaS Platform
LIMERICK, Ireland, June 11, 2020 /CNW/– kneat.com, inc. (TSX-V: KSI) (“Kneat”) is pleased to announce it has signed a three year master services agreement with one of the world’s largest biopharmaceutical companies. The agreement, which has a start date of June 8, 2020 allows this customer to expand Kneat across its global network to its many sites and multiple work processes worldwide.
This top ten R&D-driven biopharmaceutical leader, with more than 45,000 employees across its multiple operations worldwide, has selected Kneat’s SaaS platform to digitize its validation processes.
This master service agreement represents a significant opportunity for expansion of the Kneat software over the coming years.
“We are excited to be the solution of choice for another of the world’s leading life sciences companies. Kneat Gx software will be utilized to digitalize their global commissioning, qualification and validation processes as they migrate to a paperless environment.” said Eddie Ryan, Chief Executive Officer of Kneat. “Over the past two years our sales and marketing efforts have targeted the top 20 biopharma companies in the world. With this contract win, we are now working with a majority of these leading global companies”.
Implementation will begin immediately at several of their US based sites, with a go-live target date of Q4 2020. 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 in 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: firstname.lastname@example.org