LONDON and ROCHESTER, New York, June 27, 2014 /PRNewswire/ --
Commercial and Operational
Alliance to Provide Clinical Trials Industry With Global
Capabilities and a Full Range of Therapeutic Areas and Modality
Expertise
IXICO plc (Ticker: IXI) ("IXICO" or the "Company"), the brain
health company, and VirtualScopics, Inc. (NASDAQ:VSCP), a leading
provider of clinical trial imaging solutions, 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.
"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."
"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."
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
http://www.ixico.com.
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
http://www.virtualscopics.com.
SOURCE IXICO Plc