Simulations Plus Announces First Sale of GastroPlus Software to the Japanese Pharmaceutical Industry
LANCASTER, CALIF. (April 5) BUSINESS WIRE -April 5, 1999--Simulations Plus Inc. (Nasdaq:SIMU)(www.simulations-plus.com), a premier developer of drug discovery and development simulation software for the pharmaceutical industry, Monday announced that it has sold its first GastroPlus(tm) simulation software license to the Japanese pharmaceutical industry.
The sale was facilitated by the company's first-tier Japanese distributor, Teijin Systems Technology Ltd. (TST), a division of Teijin Ltd., a multibillion-dollar Japanese conglomerate that includes Teijin Pharmaceutical.
This sale was made prior to the completion of the traditional Japanese pharmaceutical industry review process, in which new industry software is thoroughly examined by selected academic institutions.
The pharmaceutical market in Japan is the second largest in the world with more than 200 companies and $5 billion-$7 billion in revenue. Simulations Plus is represented in Japan exclusively by TST under an agreement signed by the two companies in August 1998.
TST is one of the largest and most established providers of software and software systems to the Japanese pharmaceutical industry, with approximately 30 percent of the market.
It counts among its customers all of the top 20 Japanese pharmaceutical companies. According to TST, almost all of the 50 companies introduced to GastroPlus(TM) have expressed keen interest in the product. Sales are expected to commence in earnest within the next four-to-six weeks as the new Japanese fiscal year begins April 1.
In early April 1999, Simulations Plus' management and distinguished scientists will be conducting a series of seminars in Japan, during which GastroPlus(TM), the soon-to-be-released QMPRPlus(TM) and the Consortium for ADME Prediction (CAP) will be presented to leading pharmaceutical corporations.
These seminars will be held in conjunction with the International Symposium for Optimizing Oral Drug Delivery, sponsored by the American Association of Pharmaceutical Scientists and the Pharmaceutical Society of Japan, and held April 19-21 in Kobe, Japan.
Dr. Gordon Amidon, Simulations Plus' strategic partner and consultant in the development of the GastroPlus(TM) software, will be co-chairing this event, and Dr. Michael Bolger, Simulations Plus' director of Life Sciences, will be presenting a paper titled "Computational Approaches to Absorption Screening" in that forum.
Simulations Plus will be marketing its products to the Symposium attendees, estimated to be 2,500 pharmaceutical scientists, representing a wide range of pharmaceutical companies and academic institutions throughout the world.
"We consider the sale of this first GastroPlus(TM) license to the huge Japanese market to be a major milestone for our new pharmaceutical technology business," commented Walt Woltosz, chairman and chief executive officer of Simulations Plus. "This purchase extends our customer base to three continents. Teijin Systems Technology Ltd. is clearly using its market strength to establish a presence for us in Japan."
Woltosz continued: "Next week, we will be embarking on a two-week tour of Japan, during which time we will be presenting our technology and conducting demonstrations for some of the largest pharmaceutical corporations in that market.
"These seminars follow a very successful premarketing effort by TST, leading us to believe that we will see the first results of this campaign by the end of the third fiscal quarter. In addition to the seminars, we will present information at the International Symposium for Optimizing Oral Drug Delivery.
"Dr. Gordon Amidon, our partner and important contributor in the development of our GastroPlus(TM) technology, is co-chairing this international event and our Dr. Michael Bolger will be presenting a scientific paper on related work. This type of exposure helps to build our credibility among discerning scientists and their organizations worldwide," concluded Woltosz.
Simulations Plus is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research for major pharmaceutical companies worldwide.
The company has two other businesses, Words+ Inc. and FutureLab(TM), which are based on its proprietary software technologies and which provide support for the emerging pharmaceutical enterprise. Simulations Plus has headquarters in Southern California and trades on the Nasdaq under the symbol "SIMU."
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to changes in the pharmaceutical industry's acceptance of the company's products, the appearance of significant competition for the company's products, the company's credibility and reputation, and the timing and ultimate delivery of new products by the company. Further information on the company's risk factors is contained in the company's quarterly and annual reports as filed with the Securities and Exchange Commission.
-0- WAM/la* ECQ/la
CONTACT: Simulations Plus Inc., Lancaster
Ron Creeley, 661/723-7723
or
Banchik & Associates, Solvang, Calif.
Doris Banchik, 805/688-2340
KEYWORD: CALIFORNIA INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: BIOTECHNOLOGY COMED COMPUTERS/ELECTRONICS MEDICINE PHARMACEUTICAL PRODUCT Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com