LIMERICK, Ireland, April 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 multinational producer of generic pharmaceuticals (“the Company”) has signed a Services Agreement with Kneat to digitalize its drawing management process. Drawing management supports engineering and validation processes by digitalizing and organizing all technical drawings, eliminating paper-based errors, maintaining traceability of revisions, and controlling access.
Headquartered in Europe and operating over a dozen manufacturing facilities around the world, the Company is a leading provider of generic and biosimilar pharmaceuticals to patients in over 100 countries. With more than 20,000 employees, the Company will initially use Kneat for management of all its engineering drawings at its largest manufacturing site in Europe. Subsequently, the Company can leverage Kneat to streamline and automate all its validation workflows, ensuring efficiency, accuracy, data integrity and adherence to good manufacturing practice.
“Today’s announcement adds another global leader to our customer community. It also showcases the versatility of the Kneat platform, which can be leveraged to deliver additional adjacent functions."
- Eddie Ryan, Chief Executive Officer of Kneat
Strong customer retention has emerged as a defining characteristic for Kneat as it has grown over the past ten years to become the validation software of choice for the life sciences industry, serving the majority of the top 20 largest life sciences companies in the world. Net revenue retention, which measures the expansion from existing customers for the previous 12 months, was 151% at December 31, 2024. Kneat is proud of its customer support where 97% of customers rate it as ‘very good’ or ‘excellent’.
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 show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and 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
