MOUNTAIN VIEW, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Pharsight Corporation , a leading provider of software and strategic services for optimizing clinical drug development, today announced that a Top 10 global pharmaceutical company has become a customer for its Drug Model Explorer (DMX) software. The DMX license agreement is the seventh Pharsight has closed with leading pharmaceutical and biotechnology companies in Europe, Japan and the United States, and is the second agreement reached with a Top10 customer in the last six months.
DMX is a software tool that allows clinical drug development teams to quickly and efficiently explore the modeled efficacy, safety, and other performance attributes of a new drug versus competing therapies.
"Top pharmaceutical companies continue to expand the use of modeling in drug development, which the FDA has advocated as part of its Critical Path Initiative," said Shawn O'Connor, president, chief executive officer and chairman of Pharsight. "DMX simplifies the display of model-based results for team exploration and facilitates quantitative decision-making by enabling users to answer strategic development questions and compare competitive products. We believe that DMX can enhance the cost and efficiency benefits of using modeling and simulation in drug development by helping the project team make decisions earlier and with greater confidence."
About DMX
DMX is a software visualization and communication tool to explore model- based results of a compound's product profile. Through the DMX interface the development team can address key strategic development questions by comparing probabilistic outcomes for different endpoints, treatment strategies, and patient populations against competing products. DMX results are presented as a series of plots and tables that can be quickly updated based on pre-simulated models of clinical effect. Results are accessible from networked desktop or laptop computers for individual exploration, interactive team discussion, and communication of development strategies and program alternatives with senior decision-makers. Pharsight believes that DMX will help increase the usage of quantitative-based decision-making in the drug development process.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products and services that enable pharmaceutical and biotechnology companies to achieve significant and enduring improvements in the development and use of therapeutic products. The company's goal is to help customers reduce the time, cost and risk of drug development, as well as optimize the post-approval marketing and use of pharmaceutical products.
Pharsight's approach enhances the fundamental element of drug development success: strong decision-making. By adopting the Pharsight approach, customers acquire a new decision-making process with the potential to systematically improve every level and phase of their business and scientific processes. Pharsight is headquartered in Mountain View, California. Information about Pharsight is available at http://www.pharsight.com .
Forward Looking Statements
The statements in this press release related to the design and performance of the Pharsight Drug Model Explorer product are forward-looking statements. Forward-looking statements are inherently speculative, and actual results may differ materially from Pharsight's expectations due to a variety of factors, including: changes in FDA regulations may affect the demand for the Drug Model Explorer product; and customers may not perceive the benefits of the product to be the same as Pharsight believes them to be. Other risk factors relating to Pharsight are disclosed in the company's most recent Form 10-Q filed with the Securities and Exchange Commission on August 14, 2006. All forward-looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Registered Trademarks
Pharsight, Drug Model Explorer and DMX are registered trademarks of Pharsight Corporation.
Pharsight CorporationCONTACT: investors, Douglas Sherk or Jennifer Beugelmans, +1-415-896-6820;or media, Jen Saunders, +1-646-277-8720, all of EVC Group, for PharsightCorporation
Web site: http://www.pharsight.com/
