TERN Tern Plc

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 Tern PLC (TERN) 
Tern PLC: New commercial order for FundamentalVR 
 
26-March-2019 / 10:10 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
26 March 2019 
 
        Tern Plc ("Tern" or the "Company") 
 
        New commercial order for FundamentalVR 
 
Tern Plc (AIM: TERN), the investment company specialising in the Internet of 
Things ("IoT"), is pleased to announce that FVRVS Limited ("FundamentalVR"), 
      a leading Virtual Reality ("VR") training and data analysis technology 
platform and one of its existing portfolio companies, has secured an initial 
 order of GBP150,000 to create a VR simulation, for one of the world's leading 
                pharmaceutical companies. 
 
   FundamentalVR's award winning platform combines immersive virtual reality 
       with cutting-edge haptics (the sense of touch) to create low-cost and 
          scalable simulation experiences to offer a new way to allow skills 
                development for surgeons and medical professionals. 
 
         The project is the first in a planned series of VR experiences that 
      FundamentalVR's client is commissioning to inform, educate and measure 
      awareness and compliant, safe use of their pharma products. This first 
implementation will teach the method of action and the patient experience of 
                a pharmaceutical product. 
 
    This multi-stage VR approach is expected to become a template for future 
product launches by the pharmaceutical client, which are intended to utilise 
                FundamentalVR's virtual reality with haptics platform. 
 
     Tern CEO, Al Sisto, said, "This is a new approach to pharma and medical 
 device product introductions, which we believe will accelerate the adoption 
  of new medical products in building out the use procedures in a repeatable 
 practice scenario were the individual's performance can be measured against 
     a standard and his/her peers. FundamentalVR and its customers share the 
    belief that the comparative data insights and measurements collected and 
available through the FundamentalVR platform will have a profoundly positive 
                impact on medical outcomes and products around the world". 
 
 This announcement contains inside information for the purposes of Article 7 
                of EU Regulation 596/2014. 
 
        **ENDS** 
 
Enquiries 
 
Tern plc                          Via Newgate Communications 
 
Al Sisto, CEO 
 
Sarah Payne, Finance Director 
 
                                  Tel: 0203 328 5656 
 
Allenby Capital Limited 
 
(Nomad and Joint broker) 
 
David Worlidge/Alex Brearley 
 
                                  Tel: 020 7659 1234 
 
Whitman Howard 
 
(Joint broker) 
 
Nick Lovering/Christopher Furness 
 
Newgate Communications            Tel: 020 3757 6880 
 
PR 
 
Elisabeth Cowell/Fiona Norman 
 
ISIN:          GB00BFPMV798 
Category Code: UPD 
TIDM:          TERN 
LEI Code:      2138005F87SODHL9CQ36 
Sequence No.:  7945 
EQS News ID:   791671 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

March 26, 2019 06:11 ET (10:11 GMT)

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