Brandshield wins new business contract with 'leading pharmaceutical company'

Cybersecurity group BrandShield Systems has secured a new business contract with an unnamed "leading pharmaceutical company".

BrandShield said on Wednesday that the contract win, which comes as part of an ongoing growth in sales and the closing of several new customers since the beginning of 2022, will see the firm provide advanced brand protection for the client, deploying its highly automated software-as-a-service offering to identify and eradicate online threats, including fake pharmacies.

Geographically, the AIM-listed company will focus on utilising its "innovative software services" to prevent cybercriminals across Asia and Oceania from jeopardising the pharma group's operations, alongside safeguarding users and improving the experience of the client's customer base.

Chief executive Yoav Keren said: "This win is an example of one of several new mandates BrandShield has already secured in 2022, strengthening our reputation as a leading provider of digital risk protection solutions for companies across a wide array of sectors.

"BrandShield has a proven track record of successfully identifying and eradicating critical online threats to global pharmaceutical companies and we look forward to extending our leading position in the pharmaceutical space, one of many exciting opportunities in our pipeline for the near to medium term."

As of 1345 BST, BrandShield shares were up 2.86% at 10.80p.