26 Jan. 2012
WILMINGTON, N.C., and ROCHESTER, N.Y., (January 26, 2012) - Pharmaceutical Product Development, Inc. and VirtualScopics, Inc. (Nasdaq: VSCP) today announced they have expanded their successful one-year strategic alliance in clinical and medical imaging services across multiple therapeutic areas to now include oncology, central nervous system, cardiovascular, general medicine and medical devices.
The companies deliver integrated, customized clinical and medical imaging technologies using an innovative, patented algorithm-based approach to image processing and biomarker measurement. As a result, biopharmaceutical companies are able to make faster, more confident decisions about the status of their compounds from early phase through post-approval.
"Medical imaging plays a critical role in advancing drug development, and this alliance strengthens our global research and development services across several large disease areas," said Paul Colvin, executive vice president of global clinical development for PPD. "Through our strategic alliance with VirtualScopics, we are able to provide clients with more advanced imaging data via an integrated solution so they can make important development decisions related to patient safety and eligibility protocols, drug efficacy and study endpoints."
Jeff Markin, president and CEO of VirtualScopics, added, "Today's announcement signifies a very visible milestone in our partnership with PPD. Sponsors across the industry had become accustomed to the complexities and inefficiencies of managing the broader clinical aspects and medical imaging components of clinical trials separately. This alliance has shown that there are very clear and quantifiable benefits of integrating these pieces together in a seamless fashion. For example, a sponsor's overall study can now be managed through one point of contact, resulting in reduced oversight by the sponsor and, through process and IT integration, reduced study cost. We are very pleased that, through this expansion of the alliance, these benefits will now be offered to PPD's clients globally across all of their therapeutic areas."
The alliance between PPD and VirtualScopics was established in October 2010 and initially focused on oncology drug development. Medical imaging has played a large role in deciding whether to advance oncology compounds, particularly as pharmaceutical companies and service providers faced immediate challenges in managing studies with increasing complexity and reduced timelines.
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.