March 10, 2022 | Leading Canadian Generics Pharmaceutical Manufacturer Selects Kneat’s SaaS E-Validation Platform
LIMERICK, Ireland, March 10, 2022 /CNW/ – kneat.com, inc. (TSX: KSI) (“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 with a Canadian-headquartered generics pharmaceutical manufacturer employing over 7,000 people and operating in over 45 countries.
The Master Services Agreement is effective immediately and allows the company to scale Kneat to all its affiliate companies and business divisions, representing a significant opportunity for the expansion of SaaS licenses over the coming years. The company’s initial focus is equipment qualification with implementation commencing in the coming weeks and an expected go-live date of Q3 2022.
“Today’s announcement extends our industry-leading position within life sciences,” said Eddie Ryan, Chief Executive Officer of Kneat. “Pharmaceutical companies operate under the most stringent regulatory environment, and our platform is designed to enable real-time compliance and the highest level of data integrity while providing proven efficiencies. We are delighted to be trusted by this Canadian generics pharmaceutical company as their enterprise e-validation platform. We look forward to working with their team to build out the company’s digitized equipment qualification process in the coming months,” added Mr. Ryan.
Kneat continues to grow its diverse customer base, ranging from small biotechnology companies to top tier pharmaceutical companies and global consumer packaged goods companies.
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.
The forward-looking information in this press release does not include a full assessment or reflection of the unprecedented impacts of the COVID-19 pandemic occurring since the first quarter of 2020 and the ongoing and developing resulting indirect global and regional economic impacts. This has resulted in significant economic uncertainty and even though the Company has to date experienced no significant impact to its operations, any potential impact on our future is difficult to understand or measure at this time.
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.
For further information:
Hugh Kavanagh, Chief Financial Officer
P: +353 61 203826
James Bowen, Kneat Investor Relations
P: + 1 416-519-9442
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