VirtualScopics, LLC Announces Extension Of Pfizer Inc. Deal
ROCHESTER, N.Y., Nov. 9 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. , a leading developer and provider of advanced medical image analysis services to the pharmaceutical industry today announced the renewal of its strategic alliance with Pfizer, Inc. The collaboration enables Pfizer to accelerate the discovery, validation and application of image-based biomarkers for clinical research. Additionally, the alliance allows Pfizer to apply VirtualScopics' technology to ongoing clinical research in an effort to identify and validate image-based biomarkers correlating to clinical outcomes. The biomarkers may then be used to assess the efficacy of new pharmaceutical compounds in the clinical trial process while reducing drug development costs and the time to market.
This strategic relationship expands ongoing collaborative efforts between Pfizer and VirtualScopics to correlate image-based biomarkers to disease progression in several therapeutic areas. With novel approaches for semi- automated approaches for clinical image analysis, a significant impact in quality and execution of imaging trials has been demonstrated.
Robert G. Klimasewski, president and CEO of VirtualScopics, stated, "We are delighted that we will continue our strategic alliance with Pfizer. Over the past three years, the relationship has proven to be a significant benefit to both parties and to the medical industry at large through improved drug development."
Image-based biomarkers and algorithms developed by VirtualScopics as a result of this partnership will remain the property of VirtualScopics.
About VirtualScopics, Inc.
VirtualScopics, Inc. is a leading provider of advanced medical image analysis services. The visionary company evolved from research first carried out at the University of Rochester Medical Center and School of Engineering. VirtualScopics has created a suite of image analysis tools used in detecting and analyzing specific structures in volumetric medical images, as well as characterizing minute changes in structures over time, providing vital information to support clinical trials and diagnostic applications. The firm's proprietary software algorithms can assemble hundreds of separate medical images taken during an MRI session into a single, three-dimensional model, bringing a new and previously unobtainable source of data to clinical researchers. For more information about VirtualScopics, visit http://www.virtualscopics.com.
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein 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. Forward- looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward- looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.
CONTACT: Molly Henderson CFO, VirtualScopics Inc. 585/249-6231 firstname.lastname@example.org Tracy Bagatelle-Black Bagatelle-Black Public Relations 661/263-1842 email@example.comVirtualScopics, LLC
CONTACT: Molly Henderson, CFO of VirtualScopics Inc., +1-585-249-6231, firstname.lastname@example.org ; or Tracy Bagatelle-Black of Bagatelle-Black Public Relations, +1-661-263-1842, or email@example.com
Web site: http://www.virtualscopics.com/