CPRT - MCJ Capital - Kneat.Com: Cornering The Top 20 Global Pharmas
2023-11-08 08:30:00 ET
Summary
- Kneat.com is an Irish company that provides automation solutions for electronic validation workflow and document management in highly regulated industries.
- The company's end-to-end electronic solution allows customers to generate compliant reports in real time with a complete audit trail for regulatory bodies.
- Kneat has successfully cornered the top 20 Global Pharmaceutical companies and is now being sought after by other life science companies and consumer packaged goods organizations.
The following segment was excerpted from this fund letter.
Kneat.com Inc ( KSIOF , KSI:CA )
Kneat is a company I have yet to publicly write about. The business is based out of Ireland, and led by the three founders, with Eddie Ryan serving as CEO, Brian Ahearne serving as CIO and Kevin Fitzgerald serving as CPO. At just around $225 million market cap, the company flies below the attention level for most institutional investors.
Kneat is solving an interesting and costly problem, automating electronic validation workflow and document management for highly regulated industries.
When a healthcare company manufactures a product, extensive testing is required to ensure an internal quality threshold is maintained. This testing is done across all processes on every machine and manufacturing line, throughout all systems of the company. The testing is routine and results must be captured, documented, and made available for regulatory audits.
Most companies have to keep records for 20+ years and manage this process through carbon copies in physical form (and you thought your filing cabinet was a mess!). The stakes are high for these companies as a mishap of any form in the captured data, inadequate documentation, or ability to recall the captured results, pushes the company out of compliance.
Kneat is the first end-to-end complete electronic solution that solves this problem and can be viewed across the entire company. Customers of Kneat can generate highly detailed, compliant reports in real time, with a complete audit trail for regulatory bodies such as the FDA.
What makes Kneat specifically interesting is the system is built for data quality within the document and not just the document itself. Most validation systems rely on intake and upload into the system. Kneat validation is the system which not only reduces redundancy but maintains a higher level of data integrity. In addition, the functionalities being built within Kneat allow for data analytics that can incorporate insight from a company’s legacy system (ie paper) as well as the new documentation going forward.
Since landing its first customer (Biogen) in 2016, Kneat has gone on to corner the top 20 Global Pharmaceutical companies, now calling the majority their customers. The company has a first-mover advantage, with each additional customer providing further user proof of the product, and gateways into segmented suppliers and customers of the value chain.
Kneat’s beachfront into the market was Pharma, but the company is already being sought after by other life science companies, consumer packaged goods, and contract manufacturing organizations.
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Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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MCJ Capital - Kneat.Com: Cornering The Top 20 Global Pharmas