US and Japanese-Based Top 25 Global Pharmaceutical Companies Select Drug
Model Explorer(R) for Model-Based Product Profile Visualization
MOUNTAIN VIEW, Calif., April 2, 2008 /PRNewswire-FirstCall/ -- Pharsight Corporation (Nasdaq: PHST), a leading provider of software, strategic consulting, and regulatory services for optimizing clinical drug development, today announced that two Top 25 global pharmaceutical companies have become customers for its Drug Model Explorer (DMX) software. Scientists in each of the customer's clinical pharmacology groups expect to use DMX to rapidly display and share model-based results, including quantitative assessments of the competitive treatment landscape, with global development colleagues. The DMX license agreements are the tenth and eleventh that Pharsight has signed with leading pharmaceutical and biotechnology companies in Europe, Japan and the United States.
DMX is a web-based software tool that allows clinical drug development teams to quickly and efficiently explore the modeled efficacy, safety, and other performance attributes of a new drug versus competing therapies. DMX results provide a database of model-based knowledge on drug properties that can be leveraged across development programs and between therapeutic areas. The newest DMX release, version 1.6, displays the chance that a modeled drug effect will meet a specific target profile, through additions to the software interface that present probabilistic results more prominently to support clinical development decision-making.
"Pharsight is pleased that our two newest customers recognize the contribution that modeling and simulation, combined with the novel visualization technology that DMX offers, can make to improve drug development decision-making for promising therapies in their pipelines," said Shawn O'Connor, president, chief executive officer and chairman of Pharsight. "We believe DMX can enhance the cost and efficiency benefits of using modeling and simulation by helping clinical development project teams make decisions earlier and with greater confidence."
"DMX's intuitive visualization of model-based product profiles enables drug development teams to interact with complex information, particularly when a new drug faces tough competition," continued Mr. O'Connor. "We continue to see leading drug development organizations incorporate quantitative modeling and simulation, as advocated by the Food and Drug Administration in its Critical Path Initiative, into their decision-making processes."
DMX is a software visualization and communication tool to explore model-based results of a compound's product profile. Through the DMX interface the development team can address key strategic development questions by comparing probabilistic outcomes for different endpoints, treatment strategies, and patient populations against competing products. DMX results are presented as a series of plots and tables that can be quickly updated based on pre-simulated models of clinical effect. Results are accessible from networked desktop or laptop computers for individual exploration, interactive team discussion, and communication of development strategies and program alternatives with senior decision-makers. Pharsight believes that DMX will help increase the usage of quantitative decision-making in the drug development process.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products and services that enable pharmaceutical and biotechnology companies to achieve significant and enduring improvements in the development and use of therapeutic products. Pharsight's goal is to help customers reduce the time, cost and risk of drug development, as well as optimize the post-approval marketing and use of pharmaceutical products.
Pharsight's approach enhances the fundamental element of drug development success: strong decision-making. By adopting the Pharsight approach, customers acquire a new decision-making process with the potential to systematically improve every level and phase of their business and scientific processes. Pharsight Corporation is headquartered in Mountain View, California. Information about Pharsight is available at http://www.pharsight.com.
Forward Looking Statements
The statements in this press release related to the performance of Pharsight products are forward looking statements. Forward looking statements are inherently speculative, and actual results may differ materially from Pharsight's expectations due to a variety of factors, including: changes in FDA regulations may affect the demand for the product; and customers may not perceive the benefits of the product to be the same as Pharsight believes them to be. Other risk factors relating to Pharsight are disclosed in the company's most recent Form 10Q filed with the Securities and Exchange Commission on February 14, 2008. All forward looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Registered Trademarks and Trademarks
Pharsight, Drug Model Explorer and DMX are registered trademarks of Pharsight Corporation. All other brand or product names mentioned in this document are trademarks or registered trademarks of their respective holders.
|SOURCE Pharsight Corporation|
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