ROCHESTER, N.Y. and
LONDON, June 27, 2014 /PRNewswire/
-- VirtualScopics, Inc. (NASDAQ: VSCP), a leading provider of
clinical trial imaging solutions, and IXICO plc (AIM: IXI), the
brain health company, today said they have signed an Alliance
Framework Agreement and Master Subcontractor Agreement previously
announced as an agreement in principle on March 7, 2014. This alliance will provide
the clinical trials industry with global operational capabilities
and a full range of therapeutic areas and modality expertise.
The alliance enhances both companies' abilities to deliver
world-class services to pharmaceutical, biotech and academic
customers and collaborators around the globe.
"This alliance is a strategic initiative from which both
companies will reap significant benefits," said Eric Converse, interim chief executive officer
of VirtualScopics. "The alliance enables us to access IXICO's
focus on neurology and gives us a European presence, something that
will enhance our ability to serve global pharmaceutical
clients. In addition, the integration of our complementary
technologies will allow us to provide more comprehensive and
scalable capabilities to our customers."
"We believe that this alliance brings together two highly
aligned organizations, each with a strong track record of supplying
imaging services and technologies to global pharmaceutical
companies," explained Derek Hill,
chief executive officer of IXICO. "By combining our resources
with those of VirtualScopics we can enhance our ability to deliver
on the largest clinical trials world-wide, across a more diverse
range of therapeutic areas. Finalizing this agreement marks
significant progress in integrating our business development and
operational delivery, and in getting our teams to work effectively
together."
About VirtualScopics, Inc.
VirtualScopics, Inc. (NASDAQ:VSCP) is a leading provider of
clinical trial imaging solutions to accelerate drug and medical
device development. For risk-averse, time-constrained
Clinical Trial Study Teams, Medical Directors and Imaging
Scientists who require quality imaging data delivered on-time,
within budget and on a consistent basis, VirtualScopics' clinical
trial imaging solutions are an inspired true exception to commonly
accepted services provided by other clinical trial imaging
providers. Because of the scientific and operational
flexibility and responsiveness they can offer, VirtualScopics'
clinical trial imaging solutions deliver special performance
advantages compared to other image service providers that offer
common, every day clinical trial imaging services. For more
information about VirtualScopics, Inc. please visit
www.virtualscopics.com.
About IXICO plc
IXICO plc (AIM:IXI), the brain health
company, was founded in 2004 with a mission to translate image
acquisition, management and analysis technology and know-how, which
the founders had developed together, into commercial products
targeting the expanding area of imaging to inform decision-making
during drug development. This has resulted in commercially
successful products being launched in the clinical trials (Phase
0-III) and experimental medicine markets and more recently launched
into the wider clinical diagnostic market. Since
incorporation, IXICO has been awarded contracts by nine of the top
15 global pharmaceutical companies as well as leading biotechnology
companies. In October 2013,
IXICO plc was admitted to trading on AIM. More information is
available at www.ixico.com.
VirtualScopics, Inc. Contact Information:
Donna N. Stein, APR, Fellow PRSA
Managing Partner, Donna Stein &
Partners
Phone: 315-361-4672
Email: dstein1@twcny.rr.com
IXICO plc Contact Information:
Derek Hill, Chief Executive Officer
Phone: +44 20 3763 7498
SOURCE VirtualScopics, Inc.