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Instem continues to build recurring revenue base

Last updated: 15:19 18 Oct 2023 BST, First published: 15:22 01 Mar 2021 GMT

Snapshot

  • Instem gets five approaches after agreeing Archimed deal
  • Instem targeting new tech-led approach in drug discovery
  • Instem's acquisition of The Edge highly complementary, says broker
  • Instem proves in step with groundbreaking market needs as it posts strong 2022 performance
Instem PLC -

About the company

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.

How it is doing

18 Oct 2023

Instem had expressions of interest from five other parties after the pharma services group agreed to a £203 million takeover from private equity group Archimed, it said today.

The five prospective bidders had access to management and financial information, it said, but all have now withdrawn their interest.

No discussions are ongoing with any of the potential offerors nor any other third party regarding a potential competing offer for Instem, the statement added.

Even so, Instem has adjourned the meeting scheduled for tomorrow to ratify the Archimed deal until 2 November to give shareholders additional time to consider how they will vote.

15 Sep 2023

Instem PLC (AIM:INS) posted a loss in its latest half-year and cautioned the trading outlook for the rest of the year had also softened.

The biotech services group, which recently agreed to a £203 million takeover from Ichor Management, said revenue growth had been affected in consulting as well as SEND and Target Safety Assessment outsourced services segments of the business. 

30 Aug 2023

Instem PLC (AIM:INS) has agreed a £203 million takeover offer from healthcare-focused private equity group Archimed.

The deal would see shareholders of the AIM-listed company receive 833p per share of cash, which is a 41% premium to yesterday's closing price and 34% to the average price over the past six months. 

Insight: Instem targeting new tech-led approach in drug discovery

16 May 2023

Instem PLC (AIM:INS), which provides software and technology-enabled services to the life sciences industry, is set to make a substantial impact in the pharmaceutical industry through its expansion into in silico research, according to chief executive Phil Reason.

In silico research refers to the use of computational modelling or simulation in scientific experiments, research, or trials. The term, derived from the Latin phrase "in silico," literally means "in silicon," in reference to silicon-based computer chips.

What the brokers say

01 Mar 2021

Instem PLC’s (LON:INS) acquisition of The Edge, its first deal post fundraising in July, is a highly complementary addition says house broker N+1 Singer.

The company is paying up to £8.5mln to acquire The Edge Software Consultancy, which supplies study management and data collection solutions into the drug discovery market.

There are a number of opportunities to drive revenue by leveraging Instem’s global infrastructure and sales and marketing capabilities said the broker, which has raised its 2021 and 2022 forecasts by 8% and 15% respectively.

What management says

15 May 2023

Phil Reason, CEO of Instem PLC (AIM:INS), joined Proactive with details of the company's 2022 financial performance.

The company grew revenues by 28% and underlying earnings were up 32%. It also said it expected to benefit in 2023 from ‘industry consolidation’.

Recent success include increased recurring revenue and a renewed contract with the US government's National Toxicology Program.

Instem proves in step with groundbreaking market needs as it posts strong...

Phil Reason, CEO of Instem PLC (AIM:INS), joined Proactive with details of the company's 2022 financial performance. The company grew revenues by 28% and underlying earnings were up 32%. It also said it expected to benefit in 2023 from ‘industry consolidation’. Recent success include...

on 15/5/23