VirtualScopics Partners with GE Healthcare's Imanet at Upcoming ASCO Conference

Jun 04, 2010, 08:58 ET from VirtualScopics, Inc.

ROCHESTER, N.Y., June 4 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a leading provider of quantitative imaging for clinical trials, today announced it will be partnering with GE Healthcare's Medical Diagnostics Imanet business at the American Society of Clinical Oncology (ASCO) Annual Meeting June 4-8, 2010. GE Healthcare's Imanet business provides assistance to pharmaceutical and biotechnology companies in all aspects of Positron Emission Tomography (PET) through the Imanet network of PET imaging sites.

The collaboration of VirtualScopics and GE Healthcare's Imanet would seamlessly provide customers in vivo detection and advanced analysis of more than 40 PET imaging biomarkers for drug research in a variety of disease pathways, including oncology. More importantly, the combined competencies of both companies in PET, MRI, CT, and ultrasound can help play a key role in identifying targets that might enhance patient stratification and treatment.  

"With tracers being developed by GE Healthcare, coupled with its state-of-the-art imaging equipment in Imanet and VirtualScopics' focus on standardized image acquisition and analysis," said Eric Agdeppa, PhD, MTM, Imaging Solutions Manager for GE Healthcare Medical Diagnostics, "our collaborative approach has the potential to improve the speed and accuracy of pharmaceutical research and development."

VirtualScopics and GE Healthcare will be on-site at the ASCO Annual Meeting at the McCormick Place in Chicago and at booth 20106 to discuss further details of the companies' applications and their benefit to sponsors of clinical trials.

About VirtualScopics, Inc.

VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development.  VirtualScopics has developed a robust software platform for analysis and modeling of both structural and functional medical images.  In combination with VirtualScopics' industry-leading experience and expertise in advanced imaging biomarker measurement, this platform provides a uniquely clear window into the biological activity of drugs and devices in clinical trial patients, allowing sponsors to make better decisions faster.  For more information about VirtualScopics, visit www.virtualscopics.com.

About GE Healthcare

GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems. Our "healthymagination" vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality and efficiency around the world. Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. An integral part of GE Healthcare's Medical Diagnostics business, Imanet(tm) is a network of clinical PET centers conducting exploratory phase PET imaging studies to aid in the development of products for the pharmaceutical industry since 2001. For more information about GE Healthcare, visit www.gehealthcare.com/ and www.imanet.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 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, 2009 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 contact 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.

CONTACT:

Company Contact:

Molly Henderson

Chief Business and Financial Officer, Sr. Vice President

500 Linden Oaks

Rochester, New York 14625

(585)249.6231

SOURCE VirtualScopics, Inc.



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