Simulations Plus, Inc. (AMEX: SLP), a leading provider of software for pharmaceutical discovery and development, today announced that a top 5 pharmaceutical company has signed a five-year extension to a master services agreement with Simulations Plus.
Ron Creeley, vice president of marketing and sales for Simulations Plus, said: “This contract extension adds to an agreement signed two years ago to provide consulting and software training services on demand for this large pharmaceutical customer. Although revenues from this agreement are expected to be modest in comparison to our software sales to this client, we believe that the agreement demonstrates the demand for our expertise in training for users of our software and consulting services. This company, whose name I can’t reveal because of contractual obligations, seeks assistance from Simulations Plus’ scientists when they’re faced with particularly difficult projects involving complex oral absorption/pharmacokinetics during preclinical and clinical development.”
Walt Woltosz, chairman and chief executive officer of Simulations Plus, added: “This customer is one of the largest pharmaceutical companies in the world, and was not only one of our earliest GastroPlus™ software customers but, in fact, was the source of our first study contract about 8 years ago. Our close relationships and collaborations with the scientists in this customer’s U.S. and European R&D sites have helped us to better meet their needs and to advance the state-of-the-art of our software. The fact that this agreement has been renewed and extended for a longer period than the previous agreements is a clear indication of the confidence and satisfaction placed in Simulations Plus scientists to provide valued assistance in software training and consulting activities.”