logo-loader
viewInstem PLC

Instem busy providing services to essential businesses during pandemic

Snapshot

  • Develops and sells software that aids data collection and the regulatory submission process for drug-makers
  • Supplies to businesses regarded as essential during the pandemic
  • Has a strong order book, which sets it up for growth
Instem PLC -

Quick facts: Instem PLC

Price: 490 GBX

AIM:INS
Market: AIM
Market Cap: £81.7 m
Follow

 

What the company does

Instem PLC (LON:INS) develops and sells software that aids data collection and the regulatory submission process for drugmakers.

In short, its tech helps its customers to bring their products to market faster.

The AIM firm owns more than a dozen software applications, including its flagship SEND technology. SEND stands for Standard for the Exchange of Nonclinical Data and is a protocol set up by the US Food and Drug Administration. It ensures that companies present data in a consistent format.

Among Instem’s other top products is Samarind – a software-as-a-service (SaaS) platform that enables companies to register and track their regulated products worldwide by maintaining a single integrated database, which is then used to update drugs watchdogs as products change over time.

Leadscope, which has developed a suite of products that use sophisticated artificial intelligence and machine-learning algorithms to predict potentially harmful drug side effects, was acquired in November.

 

How is it doing?

The company said there has been some uncertainty due to the coronavirus outbreak, but most of its revenue comes from clients with laboratories that are regarded as essential businesses, while many are working on COVID-19 related vaccines and therapies. 

In June it won a contract worth US$1mln to provide services to Biotoxtech, which runs the largest non-clinical research and development facility in South Korea.

In the year to 31 December, revenues rose 13% to £25.7mln and underlying profits (adjusted EBITDA) increased to £4.9mln from £4.1mln.

 

What the boss says: Phil Reason, chief executive

“We have remained very busy, have good visibility over a strong H1 2020 performance and continue to have confidence in the longer-term outlook for the business, supported by a strong cash balance at the end of April 2020 of £8.3mln."

“South Korea has been investing heavily in its pharmaceutical R&D capabilities and has become a significant player on the global stage. We continue to have a strong footprint in the Asia-Pacific region and are working hard to ensure that we maintain our world-leading market position."

 

Video

 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Instem PLC named herein, including the promotion by the Company of Instem PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Instem PLC's Phil Reason says they've been really busy during lockdown and...

Instem PLC's (LON:INS) Phil Reason speaks to Proactive London's Andrew Scott after announcing they've won a contract worth US$1mln to provide services to Biotoxtech, which runs the largest non-clinical research and development facility in South Korea. Reason adds that they've been 'really busy'...

2 days, 19 hours ago

2 min read