ROCHESTER, N.Y., Jan. 22, 2016 /PRNewswire/ -- VirtualScopics, Inc. (NASDAQ: VSCP), a leading provider of clinical trial imaging solutions, today announced that it is amending its alliance agreement with PPD, a contract research organization (CRO), to eliminate the marketing exclusivity portion of the agreement, effective April 11, 2016. The agreement originally signed in 2010, which focused on oncology trials and was later expanded to include other therapeutic areas, restricted VirtualScopics and PPD from co-marketing with each other's competitors. Under the amended agreement, VirtualScopics and PPD will no longer be restricted by exclusive co-marketing. Going forward, they will continue to collaborate on joint imaging projects already underway, as well as those in the current backlog. In addition, they will continue to work together to win new business for their alliance.
"We developed a great working relationship with PPD and look forward to continuing to win more business with them," said Eric T. Converse, president and chief executive officer of VirtualScopics. "We now have the opportunity to co-market an imaging solution with many of the CROs with which we currently work. I'm proud to say that our emphasis on operational excellence has rewarded us with several new and expanding CRO relationships that will result in new business wins in 2016 and beyond."
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 available, 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 www.virtualscopics.com.
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