HALIFAX, Jan. 19, 2018 /CNW/ - kneat.com, inc. (TSXV: KSI) ("kneat.com", "Kneat", or the "Company") is pleased to announce that one of its customers, a leading US molecular diagnostics company, has increased its number of Kneat licenses by fifty percent. This growth is in response to the customer's desire to scale Kneat to a wider global workforce and is confirmation of the value Kneat's software continues to deliver for this key customer.
In 2017, the Company published a case study outlining the compliance and productivity benefits experienced by transitioning a validation process from paper to an end-to-end electronic system. Kneat's platform addresses many challenges associated with the manual, paper-based processes, including commissioning and qualification, validation, production record execution and document management.
"This customer's wider use of our software platform is further confirmation of the value proposition and ease of scalability of Kneat's product," said Eddie Ryan, Chief Executive Officer of Kneat. "Increasingly our customers are using Kneat's software to innovate their processes and improve productivity while delivering a higher compliance standard."
The Company has a deep business development pipeline with numerous international companies in the life sciences industry. Discussions have reached an advanced stage with a number of these organizations. Kneat will report on further developments as they occur.
Kneat, headquartered in Limerick, Ireland, develops and markets the next generation Kneat Gx software platform. Multiple business processes can be quickly set up on the platform from equipment to computer system validation, through to production execution and quality document management. Kneat Gx allows users to electronically create, approve and execute all deliverables, manage any exceptions and post approve final deliverables in a controlled FDA Part 11/ Eudralex Annex 11 compliant platform. Users with correct permissions can see everything in real time. Customer case studies are reporting productivity improvements in excess of 100% and a higher 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, the Company's business development activities, the use of Kneat within the customer's manufacturing process, the ability to scale the use of Kneat within the customer and the compliance of the Kneat Gx platform under regulatory audit and inspection. While such forward-looking statements are expressed by the Company, as stated in this release, in good faith and believed by the Company 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 Company 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, CFO, kneat.com, inc., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: +353 61 203826, E: [email protected]