LIMERICK, Ireland, July 26,
2023 /CNW/ - (TSX: KSI) (OTC: KSIOF), a leader in
digitizing and automating validation and quality processes, is
pleased to announce that it has signed a three-year Master Services
Agreement ("the Agreement") with a fully integrated contract
development and manufacturing organization (CDMO) headquartered in
Asia. The company offers a range
of global services including contract manufacturing, development
and research at every stage of a biopharmaceutical product's
lifecycle. The Agreement, which initially is for equipment
validation, allows the CDMO to scale Kneat to all its validation
processes. Implementation will begin immediately with go-live
expected in Q4 2023.
Eddie Ryan, Chief Executive
Officer of Kneat, commented, "This is a strategic partnership for
Kneat. It expands our presence in the Asia-Pacific region with a rapidly growing
innovator that serves the largest pharmaceutical companies in the
world. We are proud to support their innovation and delivery of the
highest-quality products for their customers."
The CDMO, which employs over 4,000 people, selected Kneat ahead
of a large expansion that will increase its manufacturing capacity
substantially. As the CDMO is incorporating next-generation
fully digitalized systems, the planned scope of work includes
integrating the Kneat platform with several of its strategic IT
systems.
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.