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VirtualScopics Backlog Rises to a Record $27 Million
Date:12/2/2008

ROCHESTER, N.Y., Dec. 2 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a leading provider of quantitative imaging for clinical trials, today announced that its backlog currently exceeds $27 million compared to $14.7 million at the same time a year ago, a greater than 80% increase. The company calculates backlog as the amount remaining to be recognized from active and awarded contracts. The duration of the studies included within the backlog ranges from 2 months to 6 years and the company anticipates that awarded contracts will be signed within the next several months as the projects near their start dates.

"We continue to be extremely pleased with the growth in our project backlog which has not only showed greater than 80% growth compared to last year at this time, but is also 35% higher than the $20 million we announced just five months ago," said VirtualScopics' President and Chief Executive Officer, Jeff Markin. "Not only does the strength of our backlog demonstrate our future revenue potential it also shows the continued momentum in the demand for our services within the industry." He further added, "As we near the end of 2008, we remain confident in our ability to achieve our 2008 financial targets announced at the beginning of this year and are looking forward to a solid close to 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 cli
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SOURCE VirtualScopics, Inc.
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