Japan’s NIHS Licenses Simulations Plus ClassPharmer Software for Five Years
Simulations Plus, Inc. (AMEX: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, announced today that it has received a purchase order for a 5-year license for its ClassPharmer(TM) software for the National Institute of Health Sciences (NIHS) in Japan.
Ron Creeley, vice president of marketing and sales for Simulations Plus, said: “We’re very pleased and honored that the NIHS has selected ClassPharmer for its work in generating chemically relevant classification of compounds in its research. A user of the former ClassPharmer 3.5 software from Bioreason that we acquired last year, the NIHS has been using the new ClassPharmer 4.1 version since early this year and has been enjoying the dramatic increase in speed and utility of the new program. We believe that the example set by the NIHS may serve to motivate additional Japanese companies to join those already using ClassPharmer in their discovery research.”
Momoko Beran, chief financial officer and director of human relations for the Company, noted: “As we have announced earlier, under our new policy for revenue recognition for multi-year contracts, we will recognize the revenue from this order ratably over the next five years. This practice will smooth out the lumpiness we experienced in earlier years when revenues from multi-year contracts were recognized up front.”