14th May 2015 08:48
LONDON (Alliance News) - Healthcare IT services company Instem PLC on Thursday said it has secured three contracts for its ALPHADAS product suite worth a total of GBP1.4 million.
The contracts have been secured in mainland Europe, Canada and the US and comprise two new customers and an expansion contract with an existing customer. None of the customers were named.
Instem expects the majority of the revenue to fall in the current financial year.
"These three new contract wins evidence the improving market backdrop in PreClinical that we have been experiencing over the past twelve months, which has now stimulated increased activity in the Early Phase Clinical market. We believe we won these contracts, with both new and existing clients, due to our comprehensive product suite in combination with the market leading expertise of our clinical team and the overall strength of the group," said Instem Chief Executive Phil Reason.
Shares in Instem were up 7.2% to 206.34 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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