LIMERICK, Ireland, March 25, 2020 /CNW/ - kneat.com, inc. (TSXV: KSI) ("Kneat") is pleased to announce it has signed a three-year Software as a Service (SaaS) Master Agreement with another top ten pharmaceutical company.
This global pharmaceutical company with more than 25,000 employees across multiple global facilities, joins the fast-growing group of tier one pharmaceutical companies who have selected Kneat's SaaS Platform. The customer's goal is end-to-end digitalization of many of its regulated GMP testing processes, with an initial focus on Commissioning, Qualification and Verification (CQV).
The agreement allows this customer to expand Kneat across its global network, to its many sites and multiple work processes worldwide. This represents a significant opportunity for expansion of the Kneat software over the coming years.
"We are delighted to be chosen by this global leader to manage some of their critical business processes," said Eddie Ryan, Chief Executive Officer of Kneat. "It is satisfying to know they selected Kneat based on our quality, scalable and easy to use software, our great support culture and the references provided by similar tier one customers."
Initial deployment at the customer's lead European manufacturing site will commence immediately, with 'Go-Live' expected in early Q3 2020.
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. 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.
For further information: Hugh Kavanagh, Chief Financial Officer, kneat.com, inc., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: +353 61 203826, E: [email protected]