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Tern PLC (TERN)
Tern PLC: New commercial order for FundamentalVR
26-March-2019 / 10:10 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
26 March 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 its existing portfolio companies, has secured an initial
order of GBP150,000 to create a VR simulation, for one of the world's leading
pharmaceutical companies.
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.
The project is the first in a planned series of VR experiences that
FundamentalVR's client is commissioning to inform, educate and measure
awareness and compliant, safe use of their pharma products. This first
implementation will teach the method of action and the patient experience of
a pharmaceutical product.
This multi-stage VR approach is expected to become a template for future
product launches by the pharmaceutical client, which are intended to utilise
FundamentalVR's virtual reality with haptics platform.
Tern CEO, Al Sisto, said, "This is a new approach to pharma and medical
device product introductions, which we believe will accelerate the adoption
of new medical products in building out the use procedures in a repeatable
practice scenario were the individual's performance can be measured against
a standard and his/her peers. FundamentalVR and its customers share the
belief that the comparative data insights and measurements collected and
available through the FundamentalVR platform will have a profoundly positive
impact on medical outcomes and products around the world".
This announcement contains inside information for the purposes of Article 7
of EU Regulation 596/2014.
**ENDS**
Enquiries
Tern plc Via Newgate Communications
Al Sisto, CEO
Sarah Payne, Finance Director
Tel: 0203 328 5656
Allenby Capital Limited
(Nomad and Joint broker)
David Worlidge/Alex Brearley
Tel: 020 7659 1234
Whitman Howard
(Joint broker)
Nick Lovering/Christopher Furness
Newgate Communications Tel: 020 3757 6880
PR
Elisabeth Cowell/Fiona Norman
ISIN: GB00BFPMV798
Category Code: UPD
TIDM: TERN
LEI Code: 2138005F87SODHL9CQ36
Sequence No.: 7945
EQS News ID: 791671
End of Announcement EQS News Service
(END) Dow Jones Newswires
March 26, 2019 06:11 ET (10:11 GMT)
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