Simulations Plus, Inc. (Nasdaq: SLP), a leading provider of modeling & simulation solutions for the pharmaceutical, biotechnology, and chemicals industries, today announced that it has entered into a distributor agreement in South Korea with Quantum Bio Solutions (Q-Bio).

John DiBella, vice president for marketing and sales of Simulations Plus, said: “We are excited to be partnering with Q-Bio to further serve the needs of the South Korean scientific markets. We have been hosting annual GastroPlus™ modeling & simulation workshops at Chungnam National University in Daejeon, South Korea since 2014, and we have been encouraged by the response to our technology. The South Korean government has pledged nearly $9 billion to help domestic drug makers develop twenty new drugs with the goal of being among the world’s top seven global pharmaceutical producing countries by the year 2020. Therefore, we see this as a most opportune time to have a local presence in South Korea to increase awareness of Simulations Plus and our suite of offerings, while also strengthening the relationships we have already formed with South Korean companies and universities.”

Art Cho, Ph.D., Professor at Korea University and President/Chief Scientific Officer at Q-Bio, added: “Q-Bio has been searching for a business opportunity that would complement and expand our current offerings in the field of computational drug discovery & development. Simulations Plus is a recognized leader in this field, and we are very happy to serve as a partner for them. We look forward to a very fruitful relationship, as we expect to help Simulations Plus achieve meaningful growth in the burgeoning South Korean pharmaceutical market.”