Eric T. Converse Named President And Chief Executive Officer Of VirtualScopics, Inc.

       Eric T. Converse Named President And Chief Executive Officer Of
                             VirtualScopics, Inc.

PR Newswire

ROCHESTER, N.Y., July 23, 2014

ROCHESTER, N.Y., July 23, 2014 /PRNewswire/ -- The Board of Directors of
VirtualScopics, Inc. (NASDAQ: VSCP), a leading provider of clinical trial
imaging solutions, announced today that Eric T. Converse, 48, has been named
president and chief executive officer, effective immediately. Mr. Converse
joined the company's Board of Directors in August 2013 and has held the
positions of interim president and chief executive officer since October 25,
2013.

Dr. Charles E. Phelps, Ph.D., chairman of the company's Board of Directors,
said, "During the past nine months, Eric has clearly demonstrated his
leadership and team-building skills on a number of fronts and has earned the
respect and cooperation from VirtualScopics' senior management team,
employees, industry thought leaders and customers. His contributions to the
company thus far include: negotiating a global operational and
commercialization alliance with IXICO plc, the brain health company, based in
the United Kingdom; working closely with VirtualScopics and IXICO senior
management to form a joint Scientific Advisory Board to benefit both
companies; and the recent opening of a joint office in New Hope,
Pennsylvania. The new office is located in the heart of the big pharma
corridor, providing project management teams from both companies the
opportunity to work more closely with existing and prospective customers to
determine their clinical trial imaging needs." Dr. Phelps added, "With the
assistance of Korn Ferry, International, the Board of Directors conducted an
extensive search that brought forward numerous candidates with strong skills
and backgrounds, a number of whom eagerly sought the CEO position at
VirtualScopics. In the Board's judgment, the leadership demonstrated by Eric
during his term as interim CEO made it clear that he was the best choice to
take the Company forward." 

Mr. Converse added, "I am very pleased to be working with this team. Our
focus on our employees and infrastructure investments has shown early results
with increases in customer wins that will ultimately lead to improved
shareholder value. As I strongly believe a good team will yield good results,
I am extremely excited to continue with this great team and deliver even
greater results." Converse continued, "The first six months of 2014 represents
the company's best start in terms of bookings and awards outstanding in the
history of the company, a testament to the strong commitment and dedication of
the entire VirtualScopics team. We are all excited about our recent alliance
with IXICO and the many benefits of this relationship that are already coming
to fruition."

Mr. Converse has more than 20 years of hands-on management experience working
with early-stage companies across a wide range of industries. He received his
bachelor's degree from Michigan State University and attended Erasmus
University in Rotterdam, The Netherlands.

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.

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, the strategic alliance with IXICO 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 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, 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 at 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
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

SOURCE VirtualScopics, Inc.

Website: http://www.virtualscopics.com
 
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