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Instem

  • BY: Andrew Hore |
  • POSTED: 28/02/2013 |

Healthcare development IT supplier Instem has won a US government contract that could be worth $7.6m over 10 years.

The share price rose 30% to 126.5p a share, which values Instem at £14.9m.

The US government has purchased the Provantis 9 preclinical software suite via SaaS (Software-as-a-Service) to support National Toxicology Program studies. The initial value of the contract is $870,000 in the first year. The contract can be extended to up to 10 years and that would mean it was valued at between $6.2m-$7.6m.

The contract was won through a competitive tender process.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf

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