IXICO Signs Alliance Framework Agreement with Virtualscopics
IXICO plc signs an alliance framework agreement with Virtualscopics inc; commercial and operational alliance to provide clinical trials industry with global capabilities and a full range of therapeutic areas and modality expertise
London, U.K. and Rochester, N.Y., June 27, 2014— IXICO plc (AIM:IXI), the brain health company, and VirtualScopics, Inc. (NASDAQ:VSCP), a leading provider of clinical trial imaging solutions, today said they have signed an Alliance Framework Agreement and Master Subcontractor Agreement previously announced as an agreement in principle on March 7, 2014. This alliance will provide the clinical trials industry with global operational capabilities and a full range of therapeutic areas and modality expertise. The alliance enhances both companies’ abilities to deliver world-class services to pharmaceutical, biotech and academic customers and collaborators around the globe.
We believe that this alliance brings together two highly aligned organizations, each with a strong track record of supplying imaging services and technologies to global pharmaceutical companies,
explained Derek Hill, chief executive officer of IXICO.
By combining our resources with those of VirtualScopics we can enhance our ability to deliver on the largest clinical trials world-wide, across a more diverse range of therapeutic areas. Finalizing this agreement marks significant progress in integrating our business development and operational delivery, and in getting our teams to work effectively together.
This alliance is a strategic initiative from which both companies will reap significant benefits, said Eric Converse, interim chief executive officer of VirtualScopics.
The alliance enables us to access IXICO’s focus on neurology and gives us a European presence, something that will enhance our ability to serve global pharmaceutical clients. In addition, the integration of our complementary technologies will allow us to provide more comprehensive and scalable capabilities to our customers.
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