Contract for Gd-Tex Phase III imaging. Nothing dramatic, but further indication that they are moving steadily ahead.
News Alert from PR Newswire via Quote.com
Topic: (NASDAQ:PCYC) Pharmacyclics Inc, (NASDAQ:BITI) Bio-Imaging Technologies
Inc,
Quote.com News Item #7352036
Headline: Bio-Imaging Technologies, Inc. Announces Contract with Pharmacyclics,
Inc.
======================================================================
WEST TRENTON, N.J., Aug. 13 /PRNewswire/ -- Bio-Imaging Technologies, Inc.
(Nasdaq SmallCap: BITI), announced today that it has entered into a contract
with Pharmacyclics, Inc. (NASDAQ:PCYC), headquartered in Sunnyvale,
California, to provide medical image processing and digital image management
services to support a phase III clinical trial of Pharmacyclics' Gd-Tex
radiation sensitizer for the treatment of brain metastases. The total value
of the contract is approximately $1.1 Million over the course of the study.
For the study, Bio-Imaging will be responsible for site setup and
standardization, centralized data translation and image standardization, image
quantitation, design and implementation of Bio-Imaging's proprietary
computer-assisted masked read system (CAMR(TM)) and the preparation of a
Bio/ImageBase(R) package for regulatory submission.
Mark L. Weinstein, President and CEO of Bio-Imaging Technologies said,
"Pharmacyclics has been a major client of Bio-Imaging for over four years and
being awarded this new contract is a positive sign that Pharmacyclics has been
pleased with our work and wants to continue our relationship into the future.
This contract also underscores the acceptance and utility of our medical image
processing technology and drug development expertise and the importance of
building of solid client relationships."
Richard A. Miller, M.D., President and CEO of Pharmacyclics said, "We have
been very pleased with Bio-Imaging Technologies and look forward to continuing
our mutually beneficial relationship as we prepare to enter Pharmacyclics'
phase III clinical trials."
Pharmacyclics is a pharmaceutical company developing energy-potentiating
drugs to improve radiation therapy and chemotherapy of cancer, and to enable
or improve the photodynamic therapy of certain cancers and atherosclerotic
cardiovascular disease. The company's products are small ring-shaped
molecules, called "texaphyrins," which are patented agents derived from
Pharmacyclics' versatile technology platform for designing and synthesizing
energy-potentiating drugs. These texaphyrins localize in cancer cells and
atherosclerotic plaque, where they can be activated by forms of energy,
including X-ray, chemical and light, to eliminate diseased tissue.
Bio-Imaging Technologies, Inc. is a biomedical information technology and
services company that has provided total imaging solutions for clinical trials
since 1990. Bio-Imaging provides products and services that support trial
study preparation, centralized image processing, independent reviews, and
regulatory submissions. Bio-Imaging serves its clients on a global basis
through its Corporate headquarters (West Trenton, NJ), US Business Offices
(New Jersey, Massachusetts and California) and its European office (Leiden,
The Netherlands).
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. Such
forward-looking statements include, without limitation, statements regarding
estimated contract values. 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 not within the Company's control. The factors discussed
herein and expressed from time to time in the Company's filings with the
Securities and Exchange Commission could cause actual results and developments
to be materially different from those expressed in or implied by such
statements. The forward-looking statements made herein are only made as of
the date of this press release and the Company undertakes no obligation to
publicly update such forward-looking statements to reflect subsequent events
or circumstances.
SOURCE Bio-Imaging Technologies, Inc.
-0- 08/13/98
/CONTACT: Robert J. Phillips, Chief Financial Officer of Bio-Imaging
Technologies, 609-883-2000, ext. 226/ |
