Instem lands US$750,000 contract with Fortune 500 giant
The unnamed medical products and pharma company has adopted Instem's Samarind Regulatory Management System
Company
LON:INS
Instem PLC is a leading provider of IT solutions & services to the life sciences market delivering compelling solutions for study management, regulatory submissions, clinical trial acceleration, and informatics-based insight generation. The company's solutions are in use by over 700 customers worldwide, including all of the largest 25 pharmaceutical companies, enabling clients to bring life enhancing products to market faster.
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The unnamed medical products and pharma company has adopted Instem's Samarind Regulatory Management System
The UK's premier index added over 25 points at 7,712, with resource stocks taking up four of the top five positions.
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Sterling added 0.01% against the Euro to 1.1434, while against the US dollar, it added 0.60% to 1.4232.
The client, described as a top-five pre-clinical contract research organisation, has increased the size of the deal by US$400,000 to US$500,000
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Since its trading update on January 16, the stock has risen from 143p to 227p, a gain of almost 59%
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The AIM-listed IT solutions provider said that the decision of the client company will result in an immediate 40% rise in revenue from the client as part of a growing shift towards adoption of the SaaS offering
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Around 3.50pm, the FTSE 100 index was up 13 points at 7,160
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A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
A look at some of the top risers and fallers in London today
Revenue increases and expense reductions have delivered a strong increase in full-year profit and the sales order pipeline has once again strengthened
Investments and investor services
London’s blue-chip benchmark closed around 13 points lower on the day at 7,755
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A glance at some of the day's highlights from the Proactive Investors newswire