HALIFAX, Nov. 14, 2018 /CNW/ - kneat.com, inc. (TSXV: KSI) ("Kneat") is pleased to announce it has signed a multi-year, global contract with one of the largest logistics suppliers in the world. This new customer will implement Kneat's software as a service ('SaaS') platform to enable a compliant, paperless process for its computer systems validation ("CSV") activities in the life sciences industry. Kneat's software supports Pharmaceutical Good Distribution and Manufacturing Practices ("GDP and GMP") regulations to validate all computer systems used within our customer's life sciences operations. Implementation will start immediately at a strategic location in the United States with go-live expected in the second quarter of 2019.
"Our new customer will utilize Kneat's platform to implement a best-in-class, compliant solution in an efficient and cost-effective manner to meet regulatory standards," said Eddie Ryan, Chief Executive Officer of Kneat. "The importance of data integrity and compliance impacts the entire supply chain to the life sciences industry. We look forward to working with this global leader to transform the way their CSV is executed."
Kneat continues to expand its customer pipeline and will report on further developments as they occur.
Kneat develops and markets the next generation Kneat Gx software platform. Multiple business 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 world wide. 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 of Kneat's software within the customer's validation processes, the ability 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. 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.
For further information: Sarah Oliver, Chief Financial Officer, kneat.com, inc., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: +353 61 203826, E: [email protected]