ROCHESTER, N.Y., June 12 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. , a leading developer of image-based biomarker solutions, announced today the signing of a five-year master clinical trials services agreement with a leading biotechnology company. The agreement makes VirtualScopics a preferred provider of imaging-related services for later stage clinical trials.
“This contract validates our ability to leverage the very strong relationship we have with this customer in early stage development to a multi- year agreement in late stage development,” said Rosemary Shull, director of business development of VirtualScopics. “Prior to the initiation of this agreement, the customer conducted a very extensive on-site audit of our people, processes, scalability, IT, and financial strength for which we exceeded their expectations.”
“The signing of this agreement further demonstrates our progression into later stage trials which are typically much larger in size than early stage trials.” stated Jeff Markin, president and CEO of VirtualScopics. He added, “We are delighted not only with the opportunity to expand our relationship with this important customer but also by the very positive feedback we received from the audit which gives us confidence that our internal operations are as robust as our underlying technology.”
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 including the ability for the majority of the contracts to be cancelled with a 30 day advance notification by the customer.
CONTACT: Tracy Bagatelle-Black Tim Ryan Bagatelle-Black Public Relations Trout Group Investor Relations (661) 263-1842 (646) 378-2924 tracy@bagatelleblack.comtryan@troutgroup.com
VirtualScopics, LLC
CONTACT: Tracy Bagatelle-Black of Bagatelle-Black Public Relations,+1-661-263-1842, tracy@bagatelleblack.com; or Tim Ryan of Trout GroupInvestor Relations, +1-646-378-2924, tryan@troutgroup.com
Web site: http://www.virtualscopics.com//
