ROCHESTER, N.Y., Sept. 7 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a leading provider of quantitative imaging for clinical trials, today announced it has entered into a scientific collaboration, specific to molecular imaging, with ABX-CRO, a Dresden, Germany based full-service contract research organization. The collaboration joins two of the scientific pioneers in the use of advanced imaging for the clinical study of drugs and medical devices.
This partnership will provide pharmaceutical customers with an integrated service offering by leveraging the combined knowledge and experience of both VirtualScopics and ABX-CRO in the area of functional imaging, especially, Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT) and Magnetic Resonance Imaging (MRI). The companies' complementary expertise in imaging analysis and administration of radiopharmaceuticals offers turn-key solutions to customers seeking to capitalize on molecular imaging's ability to quantitatively assess pharmacokinetics and metabolism.
"This collaboration of two of the leaders in the use of molecular imaging in clinical trials will allow each company's customers to source best in class service offerings on a global basis," said VirtualScopics President and Chief Executive Officer, Jeff Markin. He continued, "The coupling of VirtualScopics' robust image acquisition and analysis package with ABX-CRO's expertise with new and evolving tracers will provide a unique and unparalleled solution with regard to the use of functional imaging in drug and medical device development."
VirtualScopics and ABX-CRO will be on site September 8 and 9 at the World Molecular Imaging Congress in Kyoto, Japan at booth # 421 to discuss further details of the companies' applications and their benefit to sponsors of clinical trials, and to present ABX-DIRECT.
About VirtualScopics, Inc.
VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development. VirtualScopics has developed a robust software platform for analysis and modeling of both structural and functional medical images. In combination with VirtualScopics' industry-leading experience and expertise in advanced imaging biomarker measurement, this platform provides a uniquely clear window into the biological activity of drugs and devices in clinical trial patients, allowing sponsors to make better decisions faster. For more information about VirtualScopics, visit www.virtualscopics.com.
ABX-CRO represents greater than 12 years of comprehensive drug development services in nuclear medicine. Integrated development of new PET & SPECT biomarkers, stand-alone PET/SPECT imaging solutions in the context of therapeutic trials, and pharmacological imaging solutions (PET microdosing & dose finding studies) are key activities. Its unique service proposal covers in addition to advanced image analysis for PET & SPECT, radiochemistry, radio-pharmacy, radio-physics, as well as clinical sciences. For more information, visit www.abx-cro.com.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to, statements regarding the expected benefits of the Company's investment in infrastructure and new customer contract signings and awards and/or statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," "projects," "seeks," or similar expressions. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Many of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 filed with the Securities and Exchange Commission (the "SEC"), and in any subsequent reports filed with the SEC, all of which are available at the SEC's website at www.sec.gov. These include without limitation: the risk of cancellation or delay of customer contracts or specifically as it relates to contact awards, the risk that they may not get signed. Other risks include the company's dependence on its largest customers and risks of contract performance, protection of our intellectual property and the risks of infringement of the intellectual property rights of others. All forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to update such forward-looking statements.
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SOURCE VirtualScopics, Inc.