ROCHESTER, N.Y., Nov. 29 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. , a leading developer of image-based biomarker solutions, announced today that it has filed an 8-K with the Securities and Exchange Commission outlining an amendment to a major contract dated July 26, 2005 (“Agreement”). The Agreement was to expire on July 26, 2007 and now has been extended to July 26, 2008. Additionally, the Agreement will automatically renew for one year periods unless either party provides notification of its intent not to renew at least 60 days prior to expiration.
“We are very excited to be continuing our work with this top 5 pharmaceutical company,” said Jeff Markin, president and CEO of VirtualScopics. “This customer has been instrumental in our success to date and the early renewal of this agreement is confirmation that it continues to be successful for them as well.”
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.
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 of Bagatelle-Black Public Relations, +1-661-263-1842, or tracy@bagatelleblack.com; or Tim Ryan of Trout Group Investor Relations, +1-212-477-9007 x24, or ryan@troutgroup.com
VirtualScopics, Inc.
CONTACT: Tracy Bagatelle-Black of Bagatelle-Black Public Relations,+1-661-263-1842, or tracy@bagatelleblack.com; or Tim Ryan of Trout GroupInvestor Relations, +1-212-477-9007 x24, or ryan@troutgroup.com
Web site: http://www.virtualscopics.com//
