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 it is doing
Revenues for the six months ended June 30 were up 20%, or 12% on a like-for-like basis.
Cash generation was strong, leaving Instem with £9.1mln, which when added to the £15.75mln raised in July leaves it with “significant capital” to accelerate its acquisition strategy.
The firm said it is well-positioned to take advantage of opportunities to further grow market share, margins and revenue visibility.
What the boss says: Phil Reason, chief executive
“We have remained very busy, have good visibility over a strong half-year performance and continue to have confidence in the longer-term outlook for the business."
“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."
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