ROCHESTER, N.Y., May 27, 2015 /PRNewswire/ -- VirtualScopics, Inc. (NASDAQ:VSCP), a leading provider of clinical trial imaging solutions, announced today, ahead of the International Society for Magnetic Resonance in Medicine (ISMRM) Annual Meeting in Toronto, that it has made scientific and operational investments in Magnetic Resonance Elastography (MRE). VirtualScopics, Inc. has recently been awarded two new projects supporting pharmaceutical companies integrating MRE into their global, multi-site clinical trials.
MRE is an emerging imaging technique that uses Magnetic Resonance Imaging (MRI) coupled with low frequency mechanical waves to provide quantifiable measurements of liver stiffness. In the clinical setting, liver stiffness is used as a surrogate indicator of liver disease and fibrosis. Initially approved by the FDA in 2009, MRE is becoming the preferred method for evaluating patients with liver fibrosis due its non-invasive and highly-sensitive capabilities.
Dr. Edward Ashton, Chief Scientific Officer at VirtualScopics, said, "We are seeing a growing demand for this relatively new technology to be implemented in clinical trials as a means to quantitatively characterize liver stiffness. VirtualScopics has been working closely with academic and industry leaders in the MRI field to develop our own MRE acquisition and analysis techniques. Our efforts are putting us in the un-paralleled position to offer our customers seamless implementation of MRE in their trials." Dr. Ashton is a sitting member of the Radiological Society of North America (RSNA)/Quantitative Imaging Biomarkers Alliance (QIBA) committee for MRE. QIBA aims to advance quantitative imaging and the use of imaging biomarkers in clinical trials. As a member of the committee, Dr. Ashton is actively engaged in advancing MRE development in the industry.
Erik Jensen, Vice President Global Business Development and Marketing at VirtualScopics, said, "VirtualScopics is pleased to have enhanced its imaging solutions offering with MRE. We continue to share our MRE expertise and help educate potential pharmaceutical companies looking to integrate MRE in their clinical trials. Through our collaborative work ethic, we strive to partner with our customers to minimize risks and maximize results."
Dr. Jennifer Dolan Fox, an imaging scientist at VirtualScopics, produced a white paper titled "Magnetic Resonance Elastography (MRE) of Liver Disease" which can be reviewed and downloaded under the Educational Resources section of the company's new website. In addition, Dr. Ashton will be conducting a free educational webinar titled "Magnetic Resonance Elastography (MRE) in Multi-Site Clinical Trials" on Wednesday, June 10, 2015. The registration link to this webinar can be found on VirtualScopics' website at www.virtualscopics.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, everyday clinical trial imaging services. For more information on VirtualScopics, Inc. please visit www.virtualscopics.com.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the 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, sales and marketing efforts, the increase in backlog, awards and bookings and the performance of existing projects 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, 2014 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 that contract awards do not turn into signed contracts. Other risks include the company's dependence on its largest customers and risk of contract performance, protection of our intellectual property and the risks of infringement on 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
Donna Stein & Partners
SOURCE VirtualScopics, Inc.