ROCHESTER, N.Y., June 26 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. , a leading developer of image-related biomarkers, today announced that it is scheduled to join the Russell Microcap(TM) Index when Russell Investment Group reconstitutes its family of U.S. indexes on June 30, according to a preliminary membership list posted on Friday, June 16 on www.russell.com.
"We believe that our inclusion in the Russell Microcap Index reflects the significant progress we have made working with ten of the top fifteen global pharmaceutical companies," stated Robert Klimasewski, president and CEO of VirtualScopics. "Combined with our recent announcement about listing on the NASDAQ Capital Market, we believe that our inclusion in the Russell Microcap Index will increase the company's visibility among existing and prospective pharmaceutical clients."
Russell indexes are used widely by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.8 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Russell, a global leader in multi-manager investment services, provides investment products and services in 44 countries. Russell manages more than $167 billion in assets and advises clients worldwide representing $2.4 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.
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 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. These forward-looking statements include, but are not limited to, statements regarding the expected inclusion in the Russell Microcap Index 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. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's Annual Report on Form 10-KSB filed with the Securities and Exchange Commission (the "SEC") on March 30, 2006, and in any subsequent reports filed with the SEC, all of which are available at the SEC's website at www.sec.gov.
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, Inc.
