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VirtualScopics, Inc. And IXICO Plc Open Operations And Business Development Office In New Hope, PA

Stocks in this article: VSCP

ROCHESTER, N.Y. and LONDON, June 30, 2014 /PRNewswire/ -- VirtualScopics, Inc. (NASDAQ: VSCP), a leading provider of clinical trial imaging solutions, and IXICO plc (AIM: IXI), the brain health company, announced today they are jointly leasing 2,190 sq. ft. of office space in New Hope, Pennsylvania, strategically located within the big pharma corridor that runs through New Jersey and Pennsylvania. The office will be located at 220 Union Square Drive, located within the Union Square office complex in New Hope. Staffing for the office will begin immediately.

"This new office will establish a presence for the international commercial and operational alliance VirtualScopics and IXICO have formed," explained Erik Jensen, Vice President, Global Business Development and Marketing of VirtualScopics. "It is in close proximity to many of our respective large pharma clients, including one of the two new customers VirtualScopics recently won awards from this year who are among the top 15 big pharma organizations. Opening this office together is an important initiative of our strategic alliance, and will allow us to work collaboratively, side by side with our colleagues at IXICO on numerous pharma projects. The New Hope office will provide a base of operations for project managers to meet with clinical trial managers, members of the business development team to meet with new and existing clients, as well as for human resource personnel to recruit new talent to support our clients' upcoming clinical trials."

"IXICO is delighted to be sharing the New Hope office with VirtualScopics. This provides IXICO's first premises in North America in a location close to many of our pharmaceutical customers," commented John Hall, Vice President, Business Development. "This enables us to better serve the needs of our current and future customers, and facilitates a closer working relationship within our alliance."

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.

About IXICO plcIXICO plc (AIM: IXI), the brain health company, was founded in 2004 with a mission to translate image acquisition, management and analysis technology and know-how, which the founders had developed together, into commercial products targeting the expanding area of imaging to inform decision-making during drug development. This has resulted in commercially successful products being launched in the clinical trials (Phase 0-III) and experimental medicine markets and more recently launched into the wider clinical diagnostic market. Since incorporation, IXICO has been awarded contracts by nine of the top 15 global pharmaceutical companies as well as leading biotechnology companies. In October 2013, IXICO plc was admitted to trading on AIM. More information is available at www.ixico.com

Forward-looking StatementsThe 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, 2013 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 contract 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.

VirtualScopics, Inc. Contact Information: Donna N. Stein, APR, Fellow PRSAManaging Partner Donna Stein & Partners315-361-4672Email:  dstein1@twcny.rr.com 

IXICO plc Contact Information: Derek Hill, Chief Executive Officer John Hall, Vice President, Business Development Charles Spicer, Vice President, Corporate Development+44 203 763 7499

U.K. Headquarters: Griffin Court, 15 Long Lane, London ECI, United KingdomU.S. Office:  220 Union Square Drive, New Hope, Pennsylvania, USA

SOURCE VirtualScopics, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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