VirtualScopics, LLC Adds More New Board Members

ROCHESTER, N.Y., Dec. 16 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. , the leading developer of image-related biomarkers, today announced the appointment of two more new board members. The first is former chairman, CEO and president of Eastman Kodak Company, Colby Chandler and the second is Dr. Charles Phelps, provost at the University of Rochester and a noted economist in the healthcare industry.

“Any strong company requires a strong board of directors and the addition of Chandler and Phelps bring great intellectual depth and business experience to VirtualScopics’ board,” said Bob Klimasewski, president and CEO of VirtualScopics. “Their experience and expertise is directly aligned with VirtualScopics strategic direction which will make a significant contribution to our business success.”

Chandler spent 40 years at Eastman Kodak, retiring in 1990 when he was chairman, president and CEO. He was elected president in 1977, and chairman and chief executive officer in 1983. Under his leadership, Kodak began developing digital technology and medical equipment. (They later sold the medical equipment division.) Chandler has served on the board of directors of Ford Motor Company, JC Penney Company, Citicorp and Digital Equipment Corporation.

Chandler has a bachelor’s degree in engineering physics from the University of Maine and a master’s in industrial management from Massachusetts Institute of Technology, where he was a Sloan Fellow. He holds honorary doctorate degrees from Clarkson College, University of Maine at Orono, Washington and Jefferson College, Roberts Wesleyan College and State University of New York at Geneseo.

Phelps is currently a professor and provost at the University of Rochester and a professor at its School of Medicine and Dentistry. He has been at the University of Rochester for 21 years. Phelps was named as a provost in 1994. Prior to the University of Rochester, he was a director and senior staff economist at The RAND Corporation.

Phelps has a bachelor’s degree in mathematics from Pomona College, an MBA in hospital administration from the University of Chicago and a doctorate in business economics from the University of Chicago. He is also a member of the National Academy of Sciences, Institute of Medicine; the National Bureau for Economic Research and the editorial board for the Journal of Health Economics.

About VirtualScopics, Inc.

VirtualScopics, Inc. is a provider of advanced medical image analysis services. The 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.

Forward-Looking Statements

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. 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. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.

CONTACT: Tracy Bagatelle-Black Bagatelle-Black Public Relations 661/263-1842 tracy@bagatelleblack.com

VirtualScopics, Inc.

CONTACT: Tracy Bagatelle-Black of Bagatelle-Black Public Relations,+1-661-263-1842, or tracy@bagatelleblack.com , for VirtualScopics, LLC

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