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VirtualScopics Backlog Exceeds a Record $20 Million
Date:7/15/2008

115% increase over prior year

ROCHESTER, N.Y., July 15 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a leading provider of quantitative imaging for clinical trials, today announced that its backlog currently exceeds $20 million compared to $9.3 million at the same time a year ago, a greater than 100% increase. The company calculates backlog as the amount remaining to be recognized from active contracts and awards. Included in the backlog is approximately $11 million in 2008 project awards, and expansions to current studies, which compares to approximately $5.7 million for the same period in 2007.

"We are extremely pleased that our project backlog has exceeded $20 million for the first time in our history, this is a tremendous achievement for the company," said VirtualScopics' President and Chief Executive Officer, Jeff Markin. "Our growth in backlog coupled with a greater than 90% year over year increase in new contract awards are the best indicators of the acceptance and demand in the marketplace for our services." He further added, "We are excited about the progress to date and are looking forward to continued momentum as we enter the second half of the year."

About VirtualScopics, Inc.

VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development. VirtualScopics has developed a robust software platform for analysis and modeling of both structural and functional medical images. In combination with VirtualScopics' industry-leading experience and expertise in advanced imaging biomarker measurement, this platform provides a uniquely clear window into the biological activity of drugs and devices in clinical trial patients, all
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SOURCE VirtualScopics, Inc.
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