- Kneat Now Counts Eight of the Top Ten Global Pharmaceutical
Companies as Customers
LIMERICK, Ireland , March 17, 2022 /CNW/ - kneat.com,
inc. (TSX: KSI) ("Kneat" or "the Company"),
a leader in digitizing and automating validation and quality
processes, is pleased to announce it has signed a three-year Master
Services Agreement with another of the world's top ten life
sciences companies.
This European-headquartered company has more than 50
manufacturing sites and over 90,000 employees across more than 90
countries. After an extensive evaluation process, the
corporate team selected Kneat as their global enterprise solution
for Commissioning, Qualification and Verification (CQV). With the
signing of this Master Services Agreement, eight of the top ten
largest life sciences companies have selected Kneat as their
enterprise validation platform.
The Agreement is effective immediately and allows the company to
scale Kneat across all its business divisions and affiliates. The
company's plan is to implement Kneat in several phases across more
than 50 sites over the next three years, representing a substantial
opportunity for expansion of SaaS licenses. Implementation will
commence immediately, with an expected phase 1 go-live date in Q3
2022.
Eddie Ryan, Chief Executive
Officer of Kneat, commented, "Today's announcement affirms Kneat's
best-in-class validation platform is the preferred solution for
leading life sciences companies. Our solution is supporting these
companies to deliver therapies to the highest level of quality and
compliance."
Building on their market leadership, Kneat is also driving
adoption in the mid-market and supply chain of the life sciences
industry, and in the consumer packaged goods industry.
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% and a higher data
integrity and compliance standard. 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 since 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.
SOURCE kneat.com, inc.