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Velos Set to Clear 50 Percent Market Penetration of Large U.S. Clinical Research Sites by Year End
Date:8/7/2008

FREMONT, Calif., Aug. 7 /PRNewswire/ -- Velos, Inc., the recognized leader and trusted resource for clinical trial management information systems for large investigator sites, today announced it will cross the 50 percent market penetration threshold by year end. The company's flagship product, Velos eResearch, targets the needs of medical researchers with a particular focus on large academic medical research institutions with diverse user populations, and a wide variety of research information needs and challenges.

The measure uses the amount of NIH grant dollars awarded to Velos customers among the 100 largest such grant recipients who conduct clinical research. This group historically receives about 80 percent of total extramural NIH clinical research funding. The company's customers in this group receive 47 percent of NIH funding. Together with new Velos customers in contract stage, this figure will increase to just over 50 percent by year end. The figure only includes paying customers and excludes other research sites which may also use Velos eResearch as participants in clinical trials led by Velos customers. "Fifty percent is a pretty good level of market penetration to achieve five years from product launch, which reflects quite a bit of preparation work," observed John McIlwain, President and CEO of Velos, Inc.

While Velos eResearch was launched in 2003, the company spent years and millions of dollars between 1996 and 2003 designing and redesigning multiple iterations of the product before it launched. "It's taken years of work, singular focus, robust product design, and fabulous customers with great input to get to this stage," said Priti Sahai, MD, Velos Vice President of Product Development.

Now in Version 8, the robust Velos system allows large academic medical centers and research institutions -- that have unique and expansive requirements -- to apply Velos eResearch in a wide variety of creative and productive ways, in addit
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SOURCE Velos, Inc.
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