Simulations Plus, Inc. (Nasdaq: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, announced today that it has signed a collaboration agreement with a top-5 pharmaceutical company to extend and enhance its oral cavity dosing model within its industry gold standard GastroPlus™ simulation software program.
Walt Woltosz, chairman and chief executive officer of Simulations Plus, said: “We’re very pleased to announce this collaboration, which will extend and enhance the GastroPlus simulation model for drug dosing in the oral cavity, such as sublingual, lingual and buccal (inside the cheek) dosing through a variety of dosage forms. These agreements will continue to extend the competitive advantage of our GastroPlus program, adding industry leading capabilities without the need for Simulations Plus to fund the development directly. These will include rapid-dissolving tablets, solutions, suspensions, oral sprays, and buccal patches. When it is appropriate for a particular drug, oral cavity dosing can have significant advantages over traditional swallowed oral doses, including more rapid absorption and onset of action, and reduced loss of drug due to first-pass metabolism in the liver.”
John DiBella, vice president of marketing and sales for Simulations Plus, added: “This is our first new funded collaboration since we completed several others two years ago. The funding support we will receive will add to our steady growth in software licensing revenues, which has had to make up for the lack of collaboration funding in recent quarters when compared to their year-previous quarters, as well as adding to the revenue growth we’ve experienced. We are currently in final negotiations with another top pharmaceutical company for yet another funded collaboration intended to enhance GastroPlus, and we expect to announce it in the very near future.”
About Simulations Plus, Inc.Simulations Plus, Inc. is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. For more information, visit our Web site at www.simulations-plus.com. Follow Us on Twitter 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 Securities and Exchange Commission.
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