LIMERICK, Ireland, June 11, 2020 /CNW/ - kneat.com, inc. (TSXV:
KSI) ("Kneat") is pleased to announce it has signed a three year
master services agreement with one of the world's largest
biopharmaceutical companies. The agreement, which has a start date
of June 8, 2020 allows this customer
to expand Kneat across its global network to its many sites and
multiple work processes worldwide.
This top ten R&D-driven biopharmaceutical leader, with more
than 45,000 employees across its multiple operations worldwide, has
selected Kneat's SaaS platform to digitize its validation
processes.
This master service agreement represents a significant
opportunity for expansion of the Kneat software over the coming
years.
"We are excited to be the solution of choice for another of the
world's leading life sciences companies. Kneat Gx software will be
utilized to digitalize their global commissioning, qualification
and validation processes as they migrate to a paperless
environment." said Eddie Ryan, Chief
Executive Officer of Kneat. "Over the past two years our sales and
marketing efforts have targeted the top 20 biopharma companies in
the world. With this contract win, we are now working with a
majority of these leading global companies".
Implementation will begin immediately at several of their US
based sites, with a go-live target date of Q4 2020. Kneat continues
to expand its customer base and will report on further significant
developments as they occur.
About Kneat
Kneat, a Canadian company with operational headquarters in
Limerick, Ireland, develops and
markets the next generation Kneat Gx software
platform. Multiple business work processes can be configured
on the platform from equipment to computer system validation,
through to quality document management. Kneat's software
allows users to author, review, approve, execute testing online,
manage any exceptions and post approve final deliverables in a
controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant
platform. Macro and micro report dashboards enable powerful
oversight into all systems, projects, and processes
globally. Customer case studies are reporting productivity
improvements in excess of 100%, a higher data integrity and
compliance standard and an increased business continuity
capability. For more information visit www.kneat.com.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
information" within the meaning of applicable Canadian securities
laws. Such forward-looking information, includes, but is not
limited to, the relationship between Kneat and the customer,
Kneat's business development activities, the use and implementation
timelines of Kneat's software within the customer's validation
processes, the ability and intent of the customer to scale the use
of Kneat's software within the customer's organization and the
compliance of Kneat's platform under regulatory audit and
inspection. While such forward-looking statements are expressed by
Kneat, as stated in this release, in good faith and believed by
Kneat to have a reasonable basis, they are subject to important
risks and uncertainties. As a result of these risks and
uncertainties, the events predicted in these forward-looking
statements may differ materially from actual results or events.
These forward-looking statements are not guarantees of future
performance, given that they involve risks and uncertainties. The
forward-looking information in this press release does not include
a full assessment or reflection of the unprecedented impacts of the
COVID-19 pandemic occurring in the first quarter of 2020 and the
ongoing and developing resulting indirect global and regional
economic impacts. This has resulted in significant economic
uncertainty and even though the company has to date experienced no
significant impact to its operations, any potential impact on our
future is difficult to understand or measure at this time. Kneat
does not undertake any obligation to release publicly revisions to
any forward-looking statement, except as may be required under
applicable securities laws. Investors should not assume that any
lack of update to a previously issued forward-looking statement
constitutes a reaffirmation of that statement. Continued reliance
on forward-looking statements is at an investors' own risk.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE kneat.com, inc.