Global Consumer Products Leader Selects Kneat to Digitize Validation

Rhea-AI Summary

Kneat (TSX: KSI, OTCQX: KSIOF) has secured a three-year Master Services Agreement with a major multinational consumer food and drink producer to digitize its validation processes. The European-headquartered company will initially implement Kneat's solutions for Equipment and Computer System Validation within its health sciences division, which employs over 5,000 people.

The agreement allows for potential expansion of Kneat's services across all affiliate companies and business divisions. This partnership demonstrates Kneat's expanding reach beyond traditional life sciences into consumer products, particularly for companies requiring validation regulatory compliance. The digitization initiative aims to help companies mitigate risk and protect their established brands.

Positive

• Secured new three-year Master Services Agreement with major multinational company
• Potential for expansion across all affiliate companies and divisions
• Entry into new market segment beyond traditional life sciences
• Initial deployment in division with 5,000+ employees

Negative

• None.

LIMERICK, Ireland, Feb. 07, 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 consumer food and drink producer (“the Company”) has signed a three-year Master Services Agreement (“MSA”) with Kneat to digitize its validation processes.

Headquartered in Europe and operating manufacturing facilities globally, the Company will initially use Kneat for Equipment and Computer System Validation within a specialized health sciences division with over 5,000 employees.  The MSA allows the company to scale Kneat to all its affiliate companies and business divisions.

“Today's announcement highlights that life science applications for Kneat can be found outside traditional life sciences companies, as we bring another consumer products leader into the Kneat community. We are proud to be a part of this Company's world-class quality effort supporting their pursuit of health, wellness, and nutrition for people around the world.”

- Eddie Ryan, Chief Executive Officer of Kneat

The number of consumer goods companies relying on Kneat has grown over the past several years, as certain products in their portfolios are subject to validation regulatory requirements. Digitizing these processes helps these companies mitigate risk and protect the brands they have been building for years, and positions Kneat to continue adding value to their efforts over the years ahead.

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

FAQ

What is the duration of Kneat's new Master Services Agreement with the consumer products company?

The Master Services Agreement (MSA) has a duration of three years.

How many employees are in the initial deployment division for KSIOF's services?

The initial deployment will be in a specialized health sciences division with over 5,000 employees.

What specific validation processes will KSIOF digitize for the new client?

Kneat will digitize Equipment and Computer System Validation processes for the client.

Can KSIOF's services be expanded to other divisions under the new agreement?

Yes, the Master Services Agreement allows for scaling Kneat's services to all affiliate companies and business divisions.

What is the main benefit of KSIOF's digitization for consumer goods companies?

The digitization helps companies mitigate risk and protect their established brands while meeting validation regulatory requirements.