Informatics Firm Lists on UK AIM Exchange
Instem’s software for early development safety assessment includes solutions for data collection, analysis and reporting, as well as administrative applications. Its Provantis preclinical software features modules for clinical pathology, toxicology and formulation. (For Instem’s recent financial results, see page 12.)
London, UK 10/8/10; London, UK 10/13/10—Instem Life Science Systems, a developer of software for early drug-development safety assessment, has commenced trading of its stock on the London Stock Exchange’s AIM market. The company raised £9.15 million ($14.5 million = £0.63 = $1) through a placement of 5,228,376 new ordinary shares at a price of £0.175 ($2.77) per share. The company’s market capitalization is £20.5 million ($32.5 million). Instem’s 2009 revenues grew 11.4% to £9.8 million ($15.6 million). The company has 102 employees and more than 80 customers.
