Simulations Plus Announces Senior Management Changes
August 31 2017 - 8:30AM
Business Wire
Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of
simulation and modeling software for pharmaceutical discovery and
development, today announced changes in its senior management
structure.
Walt Woltosz, chairman and chief executive officer of
Simulations Plus, Inc., said, “The board of directors has appointed
Mr. John DiBella president of the Lancaster, California division,
known as Simulations Plus. Dr. Ted Grasela will remain as president
of the Buffalo, New York Cognigen division, and Dr. Brett Howell
will remain as president of the Research Triangle Park, North
Carolina DILIsym Services, Inc. division. I will remain as chairman
and chief executive officer and continue working at the 60% level
as I have for the past three years.”
Dr. David Ralph, a member of the board of directors, added,
“With the acquisition of DILIsym Services, Inc., which expanded the
responsibilities of the corporate president over all divisions, and
recognizing the already considerable demands on Dr. Grasela’s time
with the continued growth of Cognigen, including the five-year,
nearly $5 million contract with a major research foundation, the
board felt it was optimal to have three division presidents, each
responsible for the operation of their division alone, reporting to
Mr. Woltosz as CEO. We are holding open the position of president
of the overall corporation, but not filling it at this time.”
Walt Woltosz further added, “John DiBella was the clear choice
to become the president of the Lancaster division, and we’re
delighted that he has accepted the position. John has been with
Simulations Plus for over 14 years, starting as a software
development engineer after graduating with a Master’s degree in
Biomedical Engineering from Case Western Reserve University, then
moving into marketing and sales as a salesperson. Since 2009 when
he was promoted to manager of marketing and sales, and 2012 when he
was promoted to vice president for marketing and sales, the
company’s revenue growth under his leadership has been obvious,
going from about $6.3 million for FY2009 (not including the former
Words+ subsidiary) to $20 million in FY2016, and further growth in
2017, which will be boosted further by our fourth quarter ending
today with additional revenues and earnings from our newly acquired
DILIsym division.”
“Dr. Grasela continues to do an outstanding job with the
Cognigen division, maintaining growth, providing great customer
satisfaction, and continually improving efficiencies under his
leadership,” continued Mr. Woltosz. “The acquisition of DILIsym
Services, Inc. in June added another geographic location and new
technology to our offerings. Each division provides a mostly unique
set of products and services, so we believe having a president of
each division with P&L responsibility is the best way to manage
our operations. Of course, we will continue to foster cooperation
among the divisions to take advantage of the synergies among them.
This has worked very well for Simulations Plus and Cognigen for
three years, and we are already seeing the benefits from
integrating our GastroPlus™ capabilities in Lancaster with the
DILIsym software in Research Triangle Park. We expect further
synergies between Cognigen and DILIsym going forward.”
About Simulations Plus, Inc.
Simulations Plus, Inc. is a premier developer of drug discovery
and development software as well as a leading provider of both
preclinical and clinical pharmacometric consulting services for
regulatory submissions and quantitative systems pharmacology models
for drug-induced liver injury and nonalcoholic fatty liver disease.
The company is a global leader focused on improving the ways
scientists use knowledge and data to predict the properties and
outcomes of pharmaceutical, biotechnology, and chemical agents. Our
software is licensed to and used in the conduct of drug research by
major pharmaceutical, biotechnology, chemical, and consumer goods
companies and regulatory agencies worldwide. Our innovations in
integrating new and existing science in medicinal chemistry,
computational chemistry, pharmaceutical science, biology, and
physiology into our software have made us the leading software
provider for physiologically based pharmacokinetic modeling and
simulation. For more information, visit our website at
www.simulations-plus.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995 – With the exception of historical
information, the matters discussed in this press release are
forward-looking statements that involve a number of risks and
uncertainties. Words like “believe,” “expect” and “anticipate” mean
that these are our best estimates as of this writing, but that
there can be no assurances that expected or anticipated results or
events will actually take place, so our actual future results could
differ significantly from those statements. Factors that could
cause or contribute to such differences include, but are not
limited to: our ability to maintain our competitive advantages,
acceptance of new software and improved versions of our existing
software by our customers, the general economics of the
pharmaceutical industry, our ability to finance growth, our ability
to continue to attract and retain highly qualified technical staff,
our ability to properly manage the new combined company, and a
sustainable market. Further information on our risk factors is
contained in our quarterly and annual reports as filed with the
U.S. Securities and Exchange Commission.
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Simulations Plus Investor
RelationsMs. Renee Bouche,
661-723-7723renee@simulations-plus.comorHayden IRMr. Cameron Donahue,
651-653-1854cameron@haydenir.com
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