this is big folks...and if you read the recent 10q things are definitely headed upwards here...my opinion only:
(COMTEX) B: Bio-Imaging Technologies, Inc. Announces Participation in
B: Bio-Imaging Technologies, Inc. Announces Participation in NPS Phase III
Osteoporosis Trial
NEWTOWN, Pa., May 16, 2000 /PRNewswire via COMTEX/ -- Bio-Imaging
Technologies, Inc. (OTC Bulletin Board: BITI), announced today that it has
entered into an contract with NPS Pharmaceuticals, Inc. (Nasdaq: NPSP; TSE: NX)
to provide all image handling and analysis for the NPS Phase III osteoporosis
study of ALX1-11, recombinant human parathyroid hormone (1-84). NPS has started
enrolling patients into the first Phase III study of full length human PTH, a
true anabolic agent for the treatment of osteoporosis.
Bio-Imaging Technologies, Inc. (Bio-Imaging) has been retained by NPS to provide
all of the bone densitometry (DXA/DEXA) quality control, quality assurance, and
quantification measures and the reading of all the x-rays for vertebral and
other clinical fractures. The study will enroll 1,800 patients who will be
treated with ALX1-11 or placebo for 18 months. It is estimated that at least
50,000 images will be sent to Bio-Imaging for processing.
Mark L. Weinstein, President and Chief Executive Officer of Bio-Imaging said,
"We are extremely pleased to be involved with NPS in this development program.
It demonstrates our strengths across multiple imaging modalities and builds on
the assets we gained with the purchase of Bona Fide Ltd. This is one of the
largest single trial contracts in Bio-Imaging's history and one that neither
Bio-Imaging, nor Bona Fide could have won separately."
Thomas B. Marriott, Ph.D., NPS Vice President, Development Research, stated that
"NPS recognised the need to centralise and standardise our DEXA and x-ray
imaging and interpretation in order to ensure the integrity of our study. We
needed an imaging company that had experience in this therapeutic area and that
had the ability to react quickly. Bio-Imaging has demonstrated this capability
and has an important role in the conduct of our Phase III study. We started the
planning of this study in the late Fall of last year and we are pleased to have
a quality imaging infrastructure in place to accommodate our aggressive
timeline."
Colin G. Miller, Ph.D., Bio-Imaging Vice President, Business Development,
commented "This is an important study in the area of osteoporosis. The results
of this study will have a significant impact in the future treatment of patients
suffering from this crippling disease. Our involvement demonstrates
Bio-Imaging's capability as the only completely independent `imaging core lab'
in the world with the capabilities of handling multiple imaging modalities in
large Phase III osteoporosis programs."
Bio-Imaging Technologies, Inc. is a pharmaceutical contract service organization
providing services that support the product development process of the
pharmaceutical, biotechnology, and medical device industries. The Company has
specialized in assisting its clients in the design and management of the
medical-imaging component of clinical trials since 1990. Bio-Imaging serves its
clients on a global basis through its Corporate headquarters (Newtown,
Pennsylvania), U.S. Business Offices (New Jersey, Massachusetts and California),
European office (Leiden, The Netherlands) and European business office in
Dusseldorf.
NPS Pharmaceuticals, Inc. is engaged in the discovery and development of
recombinant peptides and small molecule drugs that address a variety of
important diseases. Additional information on NPS is available at www.npsp.com.
Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. In particular, statements
regarding trends in the marketplace and potential future results are examples of
such forward-looking statements. The forward- looking statements include risks
and uncertainties, including, but not limited to, the timing of projects due to
the variability in size, scope and duration of projects, regulatory delays,
clinical study results which lead to reductions or cancellations of projects,
and other factors, including general economic conditions and regulatory
developments, not within the control of Bio-Imagining or NPS. The factors
discussed herein and expressed from time to time in filings with the Securities
and Exchange Commission by either company could cause actual results and
developments to be materially different from those expressed in or implied by
such statements. The forward-looking statements are made only as of the date of
this press release and the companies undertake no obligation to publicly update
such forward-looking statements to reflect subsequent events or circumstances.
SOURCE Bio-Imaging Technologies, Inc.
CONTACT: Mark L. Weinstein, Chief Executive Officer of Bio-Imaging
Technologies, 267-757-1360, ext. 239
URL: npsp.com
bioimaging.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
-0-
KEYWORD: New Jersey
INDUSTRY KEYWORD: CPR
MTC
SUBJECT CODE: CON
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