Insig AI Plc Contract win

TIDMINSG

Insig AI Plc

13 December 2021

This is a Reach announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the Company's performance. Reach is an investor communication service aimed at assisting listed companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

Insig AI plc

("Insig AI" or the "Company")

Contract win

Insig AI plc ( AIM:INSG ), the data science and machine learning company providing solutions to the asset management industry, is pleased to announce that it has signed a "software as a service" agreement with 4BIO Partners LLP ("4BIO"). The contract commences on 13 December 2021 and runs for an initial term of five years.

4BIO is a leading international venture capital fund targeting advanced disease therapies. 4BIO Capital is the trading name of 4BIO. Using Insig AI's proprietary machine learning classifiers, and its deep domain expertise, 4BIO will be able to quickly analyse up to 32 million medical publications that contain disease research to identify patterns and trends to inform future investment decisions and venture creation.

Steve Cracknell, Chief Executive, Insig AI commented: "The agreement with 4BIO is our first contract win outside the financial services industry. This shows how our data infrastructure and machine learning expertise can be applied to other sectors. We're particularly excited to be working with 4BIO, delivering their ambition to apply AI technology to raise the standard of healthcare, and using our software solutions in the vital area of disease therapies.

This contract win is important. It is consistent with our strategy of building long term sustainable revenues. Even though the initial impact on profitability will not be substantial, it proves our ability to win business in a sector that can be highly lucrative for us over the medium to longer term."

Dr Dmitry Kuzmin, Managing Partner at 4BIO Capital, commented: "This software platform will enhance and truly differentiate our venture creation process, allowing us to optimally screen for the most exciting and innovative projects. Insig AI's technology will allow us to widen our field of vision in the advanced therapies space, allowing us to detect promising innovation published across a much broader selection of scientific publications and geographies than would be possible before."

For further information, please visit www.insg.ai , or contact:

 
 Insig AI plc 
 Steve Cracknell, CEO                       Via SEC Newgate 
 Zeus Capital Limited (Nominated Adviser    Tel: [phone] 
  & Broker) 
 David Foreman / James Hornigold / Daniel 
  Phillips 
 SEC Newgate (Financial PR)                 Tel: [phone] 
                                             366 
 Robin Tozer / Tom Carnegie / Richard       Email: [e-mail] 
  Bicknell 
 

-Ends-

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word "Reach" in the source column of the News Explorer pages of London Stock Exchange's website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRAFFFEIFILFLIL

(END) Dow Jones Newswires

December 13, 2021 02:00 ET (07:00 GMT)