Simulations Plus, Inc. (NASDAQ:SLP), a leading provider of consulting services and software for pharmaceutical discovery and development, today announced that it has agreed to buy out the software royalty agreement with Enslein Research of Rochester, New York, for $75,000.
Walt Woltosz, chairman and chief executive officer of Simulations Plus, said: “Our agreement with Enslein Research called for a sharing of revenues from the Enslein Metabolism Module in ADMET Predictor. This buyout provides cash up front to Enslein Research equivalent to the royalties we’ve paid over the past three years. We will be able to amortize the purchase price over ten years, so if sales continue at a similar or greater pace, we will realize lower annual expenses. We now own the IP from the agreement, including the proprietary database of about 500 metabolism measurements used in building our predictions for the hydroxylation reaction caused by a family of enzymes known as Cytochrome P450s, and about 900 compounds used to build our substrate classification (i.e., yes/no) models for another family of enzymes known as UGTs. We will also now have a more convenient way to package our metabolism and metabolic site capabilities within ADMET Predictor, which were previously maintained as separate modules for tracking purposes.”
About Simulations Plus, Inc.
Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation and modeling software, which is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, agrochemical, and food industry companies worldwide. We also provide a productivity tool called Abbreviate! for PCs as well as an educational software series for science students in middle and high schools known as FutureLab ™ . Simulations Plus, Inc., is headquartered in Southern California and trades on the NASDAQ Capital Market under the symbol “SLP.” For more information, visit our Web site at www.simulations-plus.com.Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.