In addition, another one of Kneat's largest
pharmaceutical customers signs to transition from Kneat
on-premise to Kneat SaaS
LIMERICK, Ireland, Jan. 26,
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 SaaS Master Services
Agreement ("the Agreement") with Fresenius Kabi Germany, a
leading supplier of clinical nutrition, infusions, pharmaceuticals
and medical technology. The agreement is effective immediately and
allows the company to scale Kneat across all its business divisions
and affiliates.
With more than 3,500 branded products, and its own logistics and
decentralized supply centers, Fresenius Kabi continuously improves
its processes to supply clinics, pharmacies, medical practices,
dealers, care facilities and patients at home with trusted
therapies. By deploying Kneat's offering to digitize the validation
of its production equipment, facilities and utilities, Fresenius
Kabi continues its path to even greater operational efficiencies
and data integrity for these validation processes.
This Agreement marks Kneat's first engagement with Fresenius
Kabi, which employs more than 41,000 people worldwide. Fresenius
Kabi is an independent subsidiary of Fresenius, a more than
300,000-employee global healthcare group. Kneat's demonstrated
track record of delivering a strong ROI to its life sciences
customers positions Kneat to scale to multiple manufacturing sites
and processes across Fresenius Kabi. The initial deployment is
across five sites for validating production equipment, facilities
and utilities.
Implementation will commence in Q1 2023, with an expected
go-live date in Q2 2023.
Separately, earlier this month, one of Kneat's largest
pharmaceutical customers and one of its few remaining on-premise
deployments signed a three-year master agreement to transition to a
SaaS deployment, easing the way for further expansion over the
coming years. The customer expects to complete its transition in Q2
2023.
Eddie Ryan, Chief Executive
Officer of Kneat, commented, "Having the endorsement of the most
trusted companies in the world is a powerful selling tool and a
testament to the quality of our software. Add to this the ongoing
expansion of our feature set, and we are better equipped than ever
to continue to consolidate our leadership position in validation
for the life sciences industry."
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/
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.
SOURCE kneat.com, inc.