Global Leader in Specialty Therapeutics Selects Kneat to Digitize Validation

Rhea-AI Summary

Kneat.com (TSX: KSI, OTCQX: KSIOF) has secured a three-year Master Services Agreement with a major global therapeutics company to digitize its validation processes. The unnamed European company employs over 20,000 people across 100+ countries and operates more than ten manufacturing sites globally.

The client company provides supplies for Life Sciences organizations, focusing on research, clinical trials, manufacturing, diagnosis, and treatment. They will initially implement Kneat Gx for commissioning, qualification, and validation of manufacturing equipment and facilities. The partnership represents continued momentum for Kneat in attracting global Life Sciences leaders to its platform.

Positive

• Secured new three-year Master Services Agreement with major global company
• Client has significant global presence (20,000+ employees, 100+ countries)
• Expansion into validation processes for multiple manufacturing sites

Negative

• None.

LIMERICK, Ireland, Jan. 09, 2025 (GLOBE NEWSWIRE) -- kneat.com, inc. (TSX: KSI) (OTCQX: KSIOF), a leader in digitizing and automating validation and quality processes, is pleased to announce that a leading global therapeutics company (“the Company”) has signed a three-year Master Services Agreement with Kneat to digitize its validation processes.

This European-headquartered Company employs more than 20,000 people and operates in over 100 countries, with more than ten globally dispersed manufacturing sites. The Company provides supplies for companies working throughout the Life Sciences, including in research, clinical trials, manufacturing, diagnosis, and treatment. It also develops, produces, and provides innovative healthcare services and solutions to diagnose and treat a range of diseases, including rare conditions, for millions of patients around the world.  

With capabilities across the full value chain from R&D through to manufacturing and final distribution, the Company maintains a range of systems and processes requiring validation. They will use Kneat Gx initially for commissioning, qualification and validation of manufacturing equipment and facilities.

“This win continues our strong momentum attracting global Life Sciences leaders to our platform,” said Eddie Ryan, Chief Executive Officer of Kneat. “We look forward to supporting this company on their digitalization journey for all their validation processes.”

About Kneat

Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies report up to 40% reduction in manual effort and validation documentation cycle times, in addition to a higher compliance standard.

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.

For further information:

Katie Keita, Kneat Investor Relations
P: + 1 902-450-2660
E: investors@kneat.com

FAQ

What is the duration of Kneat's new Master Services Agreement announced in January 2025?

The Master Services Agreement has a duration of three years.

How many manufacturing sites will implement Kneat's validation software?

The client company has more than ten globally dispersed manufacturing sites that will potentially implement Kneat's validation software.

What specific Kneat product will be implemented for validation processes?

Kneat Gx will be implemented for commissioning, qualification and validation of manufacturing equipment and facilities.

What is the global presence of the therapeutics company partnering with KSIOF?

The European-headquartered company employs more than 20,000 people and operates in over 100 countries.

What areas will the new client use Kneat's software for initially?

Initially, the client will use Kneat's software for commissioning, qualification and validation of manufacturing equipment and facilities.