ROCHESTER, N.Y., June 29, 2015 /PRNewswire/ -- VirtualScopics,
Inc. (NASDAQ: VSCP), a leading provider of clinical trial imaging
solutions, along with IXICO plc (AIM: IXI), the brain health
company, announced today the alliance has been awarded contracts
with two top 15 pharmaceutical companies, one in metastatic solid
tumors and one in a rare neurodegenerative disease. IXICO's
TrialTracker™ digital platform will be deployed in both
studies to collect and manage imaging data and in the
neurodegeneration study, IXICO's Assessa® digital technology will
be used to analyze MRI data collected from patients.
The metastatic solid tumor study will make use of VirtualScopics
extensive expertise applying FDG-PET (Fludeoxyglucose PET) to
measuring disease progression in oncology and will involve working
with imaging centers across North
America and Europe. The study is expected to complete
in June 2017.
The neurodegeneration study will make use of IXICO's expertise
in structural MRI and will involve IXICO working with key opinion
leaders across specialist imaging centers throughout North
America. As part of this contract, IXICO's Assessa® medical
device will utilize its proprietary LEAP methodology to quantify
disease pathology in brain regions that are particularly relevant
to measuring disease progression and will be applied to MRI data
collected from subjects enrolled in the study. The study is
expected to complete in January
2018.
Eric Converse, Chief Executive
Officer of VirtualScopics commented: "Winning these two recent
studies with IXICO clearly demonstrates the strength of our
alliance. We are bringing a viable, stronger imaging choice to
the risk-averse pharmaceutical industry. The list of studies
on TrialTracker™ within VirtualScopics continues to grow
with increased momentum. Customers are very pleased with this
option. TrialTracker™ is the backbone of our
relationship with IXICO and allows us to fully exploit our
collaborative offering."
Professor Derek Hill, Chief
Executive Officer of IXICO, commented: "Our alliance with
VirtualScopics continues to be valued by our pharmaceutical
partners as we support their clinical trials on a global basis, as
evidenced by these two new contract wins. Our
TrialTracker™ digital platform provides customers with
digital technology combined with operational effectiveness.
Furthermore, our involvement with the neurodegenerative disease
study demonstrates our ability to broaden our therapeutic expertise
and validates the importance of IXICO's technology across a range
of brain diseases."
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, everyday clinical trial imaging services. For more
information on VirtualScopics, Inc. please visit
www.virtualscopics.com.
About IXICO plc
IXICO plc, the brain health company,
uses its innovative and proprietary digital platform technologies
to help those involved in researching and treating serious diseases
to make rapid decisions and improve patient
outcomes. Established since 2004, IXICO has significant
experience in working with global pharmaceutical and biotechnology
companies in dementia clinical studies and other neuro-degenerative
disorders including Huntington's
disease and Multiple Sclerosis. More information is available
on www.ixico.com.
Forward-looking Statements
The statements contained in
this press release that are not purely historical are
forward-looking statements within the meaning of the 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 benefits of the company's investment in
infrastructure, sales and marketing efforts, the increase in
backlog, awards and bookings and the performance of existing
projects 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. Many
of these risks and uncertainties are discussed in the company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2014 filed with the Securities and
Exchange Commission (the "SEC"), and in any subsequent reports
filed with the SEC, all of which are available at the SEC's website
at www.sec.gov. These include without limitation: the risk of
cancellation or delay of customer contracts or that contract awards
do not turn into signed contracts. Other risks include the
company's dependence on its largest customers and risk of contract
performance, protection of our intellectual property and the risks
of infringement on the intellectual property rights of
others. All forward-looking statements speak only as of the
date of this press release and the company undertakes no obligation
to update such forward-looking statements.
For More Information, Contact:
Donna N. Stein, APR, Fellow PRSA
Managing Partner
Donna Stein & Partners
315-361-4672
Email: dstein1@twcny.rr.com
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SOURCE VirtualScopics, Inc.