Simulations Plus, Inc. (NASDAQ: SLP – News ), 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.”