Share Name Share Symbol Market Type Share ISIN Share Description
Tern Plc LSE:TERN London Ordinary Share GB00BFPMV798 ORD 0.02P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 9.00p 8.50p 9.50p 9.00p 9.00p 9.00p 119,743 07:40:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 0.1 -0.3 -0.1 - 21

Tern PLC: New commercial order for FundamentalVR

25/07/2019 3:25pm

UK Regulatory (RNS & others)


 
 Tern PLC (TERN) 
Tern PLC: New commercial order for FundamentalVR 
 
25-Jul-2019 / 15:25 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
 This announcement contains inside information for the purposes of Article 7 
                of EU Regulation 596/2014. 
 
25 July 2019 
 
        Tern Plc ("Tern" or the "Company") 
 
        New commercial order for FundamentalVR 
 
Tern Plc (AIM: TERN), the investment company specialising in the Internet of 
Things ("IoT"), is pleased to announce that FVRVS Limited ("FundamentalVR"), 
      a leading virtual reality ("VR") training and data analysis technology 
    platform, and one of Tern's existing portfolio companies, has secured an 
  order of approximately GBP0.5 million to create an additional VR simulation, 
 for one of the world's leading pharmaceutical companies. This is the second 
       order in a planned series of virtual reality simulations specifically 
   designed to support that pharmaceutical company's ambitions to accelerate 
    the safe and compliant use of their products. The majority of this order 
                will be completed during 2019. 
 
   FundamentalVR's award winning platform combines immersive virtual reality 
       with cutting-edge haptics (the sense of touch) to create low-cost and 
         scalable simulation experiences, to offer a new way to allow skills 
                development for surgeons and medical professionals. 
 
   This second implementation will be used to teach surgeons how to practice 
      safe administration of the product, enabling the individual surgeon to 
  benchmark their skills against a recommended approach to provide data they 
                can use to improve patient outcomes. 
 
The multi-stage virtual reality approach has become the template for product 
   education by the pharmaceutical client, utilising FundamentalVR's virtual 
                reality with haptics platform. 
 
   Tern CEO, Al Sisto, said, "We're pleased to note this follow-on order for 
 FundamentalVR. We have found that the adoption of its platform has been key 
     in accelerating the competency and confidence surgeons now have when it 
comes to using medical devices and practicing innovative medical procedures, 
        with FundamentalVR having the ability to shorten the time for market 
  acceptance. We look forward to announcing further adoption of the platform 
                in due course." 
 
        **ENDS** 
 
Enquiries 
 
Tern plc                          Via Newgate Communications 
 
Al Sisto, CEO 
 
Sarah Payne, Finance Director 
 
Allenby Capital Limited           Tel: 020 3328 5656 
 
(Nomad and Joint broker) 
 
David Worlidge/Alex Brearley 
 
Whitman Howard                    Tel: 020 7659 1234 
 
(Joint broker) 
 
Nick Lovering/Christopher Furness 
 
Newgate Communications            Tel: 020 3757 6880 
 
PR 
 
Elisabeth Cowell/Fiona Norman 
 
ISIN:          GB00BFPMV798 
Category Code: MSCH 
TIDM:          TERN 
LEI Code:      2138005F87SODHL9CQ36 
Sequence No.:  14688 
EQS News ID:   847089 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

July 25, 2019 10:25 ET (14:25 GMT)

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