AVANIR Selects I-many Contract Lifecycle Management Solution for Life Sciences

I-many, Inc. (NASDAQ:IMNY), the leading provider of advanced Contract Lifecycle Management (CLM) solutions for managing corporate commitments, today announced that AVANIR Pharmaceuticals, a provider of therapeutic products for treating chronic diseases, has licensed I-many’s CLM solution for Life Sciences to manage their Medicaid and managed care rebate processes. AVANIR’s license of I-many Medicaid, I-many CARS, and I-many Validata will enable the company to cost-effectively and accurately manage the complexities of Medicaid and managed care contracts associated with its currently marketed drug. "We believe that this is the best and most cost-effective technology solution available to effectively manage our Medicaid and managed care contracts and related rebates,” said Michael Puntoriero, CFO at AVANIR Pharmaceuticals. "I-many has a market-proven and scalable solution and we are confident that I-many’s solutions will enable us to streamline the Medicaid and managed care rebate process, better enabling us to optimize our revenues and manage our costs to effectively comply with regulatory requirements.” AVANIR will rely on I-many Medicaid and I-many CARS, the only market-proven out-of-the-box managed care rebate solution available today, to streamline their Medicaid and managed care rebate processes. AVANIR also favored the I-many CLM solution suite because it includes I-many Validata, the only off-the-shelf solution that cost-effectively combines the full range of data scrubbing capabilities pharmaceutical companies need to control rebate payments. With this solution, AVANIR will be able to ensure that all rebate requests are accurate, that duplicate requests are not present, and that overpayments of rebates are eliminated. "21 of the top 25 pharmaceutical companies in the world rely on I-many’s CLM solutions, but as AVANIR’s purchase proves, our solutions meet the needs of a wide-range of companies from large enterprises to small and medium size companies,” said John Rade, president and CEO at I-many. "With a market presence spanning more than 16 years, the reliability and functionality of our CLM solutions are market-proven. This is the corporate integrity companies require, and we are certain that AVANIR will now be able to achieve their revenue optimization objectives for FazaClo.” About I-many® I-many (NASDAQ:IMNY) is the leading provider of advanced Contract Lifecycle Management solutions for managing corporate commitments. Designed to extend beyond the traditional contract management capabilities, I-many ContractSphere® offers an end-to-end solution, from pre-contract processes and contract management to transaction compliance. Ultimately, this provides companies with the visibility and control needed to manage any type of commitment - from contracts and obligations to payments and collections. The result is increased revenue, minimized risk and dramatically reduced operating costs, which deliver improved profitability with hard return on investment. More than 280 customers across 21 industries worldwide have implemented and realized the value of I-many business solutions. For more information, please visit www.imany.com. This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include: the risk of unforeseen technical or practical impediments to planned software development and other risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission.