LIMERICK, Ireland, March 25, 2021 /CNW/ - kneat.com, inc. (TSXV: KSI) ("Kneat") - is pleased to announce that it has signed a five-year Master Services Agreement with one of the world's largest contract development and manufacturing organizations (CDMO) to digitize its global Computer System Validation, Commissioning, and Qualification processes.
This global leader in contract development and manufacturing has over fourteen thousand employees across more than twenty-five countries. It provides technically advanced development and manufacturing services for pharmaceuticals and biopharmaceuticals to the life sciences industry, including many top tier global healthcare companies. Adopting the Kneat e-validation SaaS platform supports top managements' desire to digitize, streamline and provide the highest levels of data integrity in paperless manufacturing and quality. This agreement, which has a start date of March 24, 2021, will enable the customer and its affiliates to roll Kneat Gx out across their global sites over several years, representing a significant expansion opportunity for Kneat.
"We are pleased to be trusted by this innovative world leader in contract development and manufacturing to manage their critical validation processes" said Eddie Ryan, Chief Executive Officer of Kneat. "We look forward to working with their team to roll Kneat Gx out to all their global manufacturing sites".
Implementation will begin immediately at the customer's lead manufacturing site in Europe, scheduled to go-live in Q3, 2021.
About Kneat
Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx SaaS 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.
