IXICO, plc Signs an Alliance Framework Agreement With VirtualScopics, Inc.
LONDON and ROCHESTER, New York, June 27, 2014
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
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 .
Contact: Enquiries: IXICO plc Contact Information: Derek Hill, Chief Executive
Officer Phone: +44-20-3763-7498 FTI Consulting Limited (Investor and Public
Relations) Ben Atwell Simon Conway John Dineen Phone: +44-20-3727-1000
VirtualScopics, Inc. Contact Information: Donna N. Stein, APR, Fellow PRSA
Managing Partner, Donna Stein & Partners Phone: +1-315-361-4672 Email:
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