What the company does
In short, its tech helps its customers to bring their products to market faster.
The AIM firm owns more than a dozen software applications, including its flagship SEND technology. SEND stands for Standard for the Exchange of Nonclinical Data and is a protocol set up by the US Food and Drug Administration. It ensures that companies present data in a consistent format.
Among Instem’s other top products is Samarind – a software-as-a-service (SaaS) platform that enables companies to register and track their regulated products worldwide by maintaining a single integrated database, which is then used to update drugs watchdogs as products change over time.
Leadscope, which has developed a suite of products that use sophisticated artificial intelligence and machine-learning algorithms to predict potentially harmful drug side effects, was acquired in November.
How it is doing
Revenues for the six months ended June 30 were up 20%, or 12% on a like-for-like basis.
Cash generation was strong, leaving Instem with £9.1mln, which when added to the £15.75mln raised in July leaves it with “significant capital” to accelerate its acquisition strategy.
The firm said it is well-positioned to take advantage of opportunities to further grow market share, margins and revenue visibility.
What the boss says: Phil Reason, chief executive
“We have remained very busy, have good visibility over a strong half-year performance and continue to have confidence in the longer-term outlook for the business."
“South Korea has been investing heavily in its pharmaceutical R&D capabilities and has become a significant player on the global stage. We continue to have a strong footprint in the Asia-Pacific region and are working hard to ensure that we maintain our world-leading market position."