VirtualScopics, Inc. And IXICO plc Announce The Formation Of A Scientific Advisory Board To Benefit Both Companies; Dr. Edward

  VirtualScopics, Inc. And IXICO plc Announce The Formation Of A Scientific
 Advisory Board To Benefit Both Companies; Dr. Edward Ashton, Ph.D. Appointed
                                   Chairman

PR Newswire

ROCHESTER, N.Y. and LONDON, July 14, 2014

ROCHESTER, N.Y. and LONDON, July 14, 2014 /PRNewswire/ --VirtualScopics, Inc.
(NASDAQ: VSCP) and IXICO plc (AIM: IXI) jointly announced today the formation
of a Scientific Advisory Board that will benefit both companies. Dr. Edward
Ashton, Ph.D., chief scientific officer, VirtualScopics, will chair the Board
which initially will have seven members.

"The formation of this joint Scientific Advisory Board is an important
initiative of the international commercial and operational alliance we signed
with IXICO plc on June 27, 2014," said Eric Converse, interim president and
chief executive officer of VirtualScopics. "We are very honored and pleased
that our initial members have agreed to pioneer this very strategic effort on
both companies' parts."

The founding members of the Scientific Advisory Board are:

  oDr. Edward Ashton, Ph.D., Chief Scientific Officer, VirtualScopics, Inc.
    (Chair)
  oDr. Derek Hill, Ph.D., Chief Executive Officer, IXICO plc
  oDr. Jonathan Riek, Ph.D., Chief Technical Officer, VirtualScopics, Inc.
  oDr. Jeffrey Evelhoch, Ph.D., Vice President & Global Head of Imaging in
    Early Stage Development, Merck Research Laboratories
  oDr. Dirk Reitsma, M.D., Vice President of Global Product Development and
    Therapeutic Area Head of Oncology, PPD
  oDr. Claude Sirlin, M.D., Professor of Radiology & Chief of Body Imaging,
    Department of Radiology, University of California, San Diego
  oDr. Karl Schwarz, M.D., University of Rochester

"A benefit of the alliance between IXICO and VirtualScopics is the ability and
opportunity for us to think more strategically about the evolving needs of our
customers in the pharmaceutical industry and the ways they can best use
imaging in their clinical studies," said Dr. Derek Hill, Ph.D., chief
executive officer of IXICO. "This includes selecting subjects for trials as
well as assessing the efficacy and safety of experimental treatments. The
Scientific Advisory Board provides a forum for key alliance scientists to work
with external experts to map current and future roles for imaging in a number
of disease categories."

"I am very pleased to chair this joint Scientific Advisory Board," said Dr.
Edward Ashton, Ph.D., chief scientific officer of VirtualScopics. "Our Board
members are all distinguished opinion leaders from a broad range of
disciplines related to the conduct of imaging in clinical trials. The Board
will meet quarterly and focus on early and late phase oncology, cardiology,
metabolic disorders and neurology."

About the Scientific Advisory Board Members

Dr. Edward Ashton, Ph.D., has been the chief scientific officer of
VirtualScopics for the past 14 years, with primary technical responsibility
for all projects in both oncology and central nervous system disease. He has
extensive experience in image acquisition and analysis in both biomedical
imaging and military surveillance and reconnaissance. Dr. Ashton has produced
numerous articles and book chapters in the fields of biomedical imaging with
applications to clinical trials and target detection and image analysis with
military applications. He received both his Ph.D. and MS degrees in electrical
engineering from the University of Rochester, where his research focused on
MRI applications in the brain, and his BS degree in electrical engineering
from Loyola College.

Dr. Derek Hill, Ph.D., is the co-founder and chief executive officer of IXICO
plc. He co-founded IXICO in 2004 to bring the best possible imaging technology
and know-how to the pharmaceutical and medical device industries. In addition
to his role at IXICO, Dr. Hill has an academic appointment as full professor
at University College London (UCL). He has been working on medical image
analysis for more than 20 years and has authored approximately 100 journal
papers in this field. His research track record includes image acquisition and
analysis, image acquisition and analysis for drug discovery and development,
other aspects of image acquisition including motion correction and partially
parallel imaging in MRI and motion compensation in PET. He has worked on
applications in the study of dementia, heart disease, arthritis, oncology and
guiding interventions. He is actively involved in the Alzheimer's Disease
Neuroimaging Initiative (ADNI) in the U.S., has served on scientific advisory
boards for several pharmaceutical companies and is involved in the Critical
Path Institute's Coalition Against Major Diseases (CAMD) biomarker
qualification initiatives for Alzheimer's Disease and Parkinson's Disease.
Dr. Hill received a BSc degree in physics at Imperial College, his MSc degree
in medical physics at the University of Surrey and his Ph.D. in medical image
analysis at the Medical School of Guy's & St. Thomas' Hospitals, University of
London.

Dr. Jonathan Riek, Ph.D., joined the VirtualScopics team in 2001 and is the
chief technical officer of the company, with technical responsibility for all
musculoskeletal and metabolic projects at VirtualScopics. Dr. Riek has
extensive custom software development experience in both biomedical imaging
and consumer imaging. Dr. Riek holds four patents and has produced several
articles on the reduction of motion artifacts in MRI. Dr. Riek earned his
Ph.D., MS and BS degrees in electrical engineering from the University of
Rochester.

Dr. Jeffrey Evelhoch, Ph.D., joined Merck Research Laboratories, (MRL), as
vice president and global head of Imaging in Early Stage Development in 2008
to provide leadership and coordination for the use of preclinical and clinical
imaging resources for all MRL franchises and functions. He ensures that
imaging biomarkers are used optimally in discovery, early stage and late stage
development to help advance Merck's compounds through to registration. Early
on in his career, Dr. Evelhoch was professor of Internal Medicine, Oncology
and Radiology at Wayne State University School of Medicine. His research
there centered on novel ways to use in vivo magnetic resonance to quantify
tumor physiology and hemodynamics non-invasively and to predict and/or monitor
tumor response to treatment. Prior to joining MRL, Dr. Evelhoch worked for
several pharmaceutical companies in senior imaging science roles, including
Pharmacia, Pfizer, and Amgen. Throughout his career, Dr. Evelhoch has actively
published research findings and served on National Institutes of Health (NIH)
review committees. He is currently a member of the National Cancer
Institute's Experimental Therapeutics (NExT) Special Emphasis Panel. He was
named a fellow of the International Society of Magnetic Resonance in Medicine
(ISMRM) in 2003. Dr. Evelhoch is involved in a number of joint efforts of
professional organizations, industry groups and federal agencies to further
the development and use of quantitative imaging, including the Biomarker
Consortium and the Quantitative Imaging Biomarker Alliance. He received his
Ph.D. in analytical chemistry from the University of California at Riverside
and was a NIH postdoctoral fellow at Washington University.

Dr. Dirk Reitsma, M.D., joined PPD in 2010 and is vice president of Global
Product Development and Therapeutic Area Head of Oncology. Dr. Reitsma has
extensive experience in clinical development and during his career has worked
for a number of pharmaceutical companies, including MedImmune, Novartis
Pharmaceuticals Corporation, Antigenics, Inc.(now Agenus) and Organon
International, Inc. Dr. Reitsma has a particular interest in clinical trial
design, biologics and biosimilars, and in 2010 he chaired a two-day "Advancing
Biologics" meeting in Brussels where he presented "Navigating the Challenges
of Developing Biosimilars." He is a frequent speaker, presenter and author on
trends and developments in clinical trial oncology programs. Dr. Reitsma
received his medical degree from Erasmus University in Rotterdam, The
Netherlands. His Phase I, II and III oncology clinical research experience
spans small molecules and biologics in hematologic malignancies and solid
tumors, including bone metastases.

Dr. Claude Sirlin, M.D., is currently a professor of Radiology and chief of
Body Imaging in the Department of Radiology at the University of California at
San Diego (UCSD). He directs the Liver Imaging Group and co-directs the Cancer
Imaging Program at UCSD. Dr. Sirlin also chairs the Liver Imaging Reporting
and Data System (LI-RADS) Committee for the American College of Radiology and
is chair of the Radiology Committee for the NIH-funded Non-Alcoholic
Steatohepatitis Clinical Research Network. His research focuses on magnetic
resonance imaging (MRI), computed tomography (CT) and quantitative ultrasound
of liver cancer and chronic liver disease. As chair of the LI-RADS Committee,
Dr. Sirlin has helped spearhead the development and continued refinement of
the first comprehensive system for standardized terminology, interpretation
and reporting of CT and MRI examinations of the liver in patients at risk for
hepatocellular carcinoma. He has published more than 130 manuscripts, 15 book
chapters, 150 scientific abstracts, 90 educational exhibits and is a peer
reviewer on eight scientific journals. His research group is funded by NIH and
serves as the radiology coordinating centers for NIH and industry clinical
trials.

Dr. Karl Schwarz, M.D., has been a professor of Medicine at the University of
Rochester School of Medicine's Cardiology Division since 2007. Dr. Schwarz
joined the faculty in 1990 and has been the director of the adult
echocardiography laboratory since 1992. Dr. Schwarz has been one of the
leaders in moving echocardiography from a qualitative field to a quantitative
assessment of cardiovascular anatomy and physiology. To this end, he has
spearheaded the use of echo contrast for LV volume assessment, modernized the
methods used to assess cardiac valve areas, and has implemented 3D/4D
echocardiography in the transesophageal echocardiography laboratory. Dr.
Schwarz is a recognized expert in the areas of microbubble echo contrast
physics, mechanical circulatory support and electronic medical records,
including medical informatics. He is co-director of the Cardiovascular
Engineering Laboratory at both the University of Rochester and Rochester
Institute of Technology, where he holds a secondary appointment as a research
professor in the Kate Gleason College of Engineering. Dr. Schwarz' clinical
research interests are in new applications for ultrasound contrast agents, new
methods for cardiac anatomy and physiology quantification, and medical
informatics. He is the author of the Pronto Cardiovascular Database System, an
electronic medical record that has been in use at the University of Rochester
and other institutions for almost 25 years. Recently Dr. Schwarz was funded by
Google, Inc. to develop a new non-invasive home cardiovascular monitoring
system.

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 on VirtualScopics,
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.

Forward-looking Statements
The statements contained in this press release that are not purely historical
are forward-looking statements within the meaning of 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 and new customer contract signings and awards 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 or 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, 2013 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 www.sec.gov. These include without limitation:
the risk of cancellation or delay of customer contracts or specifically as it
relates to contract awards, the risk that they may not get signed. Other risks
include the Company's dependence on its largest customers and risks of
contract performance, protection of our intellectual property and the risks of
infringement of the intellectual 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.

Contact for VirtualScopics, Inc.         Contact for IXICO, plc
Donna N. Stein, APR, Fellow PRSA         Dr. Derek Hill, Ph.D.
Managing Partner, Donna Stein & Partners Chief Executive Officer
Phone: 315-361-4672                     Phone: +44 20 3763 7498
Email:dstein1@twcny.rr.com

SOURCE VirtualScopics, Inc.

Website: http://www.virtualscopics.com
 
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