LIMERICK, Ireland, April 3, 2023 /CNW/ - kneat.com, inc. (TSX: KSI) (OTC: KSIOF) ("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 ("the Agreement") with a division of one of the 20 largest pharmaceutical companies in the world, as ranked by 2021 revenue. The Agreement is effective immediately and allows the company to scale Kneat across all its business divisions and affiliates.
Implementation of the Agreement, which is for elogbook management within the company's quality control laboratories, is expected to commence and go live in Q2 2023. The division, which specializes in therapies for rare diseases and operates from dozens of locations worldwide, was introduced to Kneat by a global consulting partner.
Eddie Ryan, Chief Executive Officer of Kneat, commented, "Today's win is not just a beachhead in another of the world's largest pharmas; it also demonstrates the appeal of Kneat's applicability for use cases outside of validation and the importance of our partners. Whether it's elogbooks in a lab, or the commissioning and qualification of new equipment on a factory floor, Kneat is a key digital transformation partner for life science. Managing quality processes digitally from end to end, with no paper anywhere, delivers ROI and peace of mind for the teams responsible for the health and safety of patients."
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 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/ EU 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 investor's own risk.
SOURCE kneat.com, inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2023/03/c7938.html