Instem wins three-year deal with pharmaceutical group

20th Feb 2014 12:45

AIM-listed Instem, an IT solutions provider, has scored a three-year contract with a global pharmaceutical organisation for its Animal Care Information System (ACIS).The contract, worth $0.2m a year, will contribute to the firm's Software-as-a-Service (SaaS) revenues. The ACIS software solution is designed to improve operational efficiency, animal welfare, regulatory compliance and reporting in pre-clinical research facilities. Insteam explained that the client has been live with ACIS in the UK since 2011 but was transitioning to a SaaS model and replacing several third party and in-house solutions across its global operations. Chief Executive Phil Reason said: "We are delighted to extend our relationship with this top 10 global pharmaceutical company through the deployment of ACIS across its pre-clinical facilities in Europe and North America. "The ability to offer complementary products like ACIS not only increases our addressable market but also deepens our relationships with existing clients, who are increasingly turning to Instem to provide a wider range of software solutions, all focused on ensuring compliance, shortening drug development time and reducing costs. "The fact we are able to offer a SaaS based software solution on a fully hosted basis further enhances our client proposition and should lead to further opportunities within this highly fragmented market."NR