Japan’s NIHS Licenses Simulations Plus ClassPharmer Software for Five Years
National Institute of Health Sciences is Equivalent to U.S. F.D.A.
LANCASTER, Calif.–(BUSINESS WIRE)–Simulations Plus, Inc. (AMEX:SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, announced today that it has received a purchase order for a 5-year license for its ClassPharmer™ software for the National Institute of Health Sciences (NIHS) in Japan.
Ron Creeley, vice president of marketing and sales for Simulations Plus, said: “We’re very pleased and honored that the NIHS has selected ClassPharmer for its work in generating chemically relevant classification of compounds in its research. A user of the former ClassPharmer 3.5 software from Bioreason that we acquired last year, the NIHS has been using the new ClassPharmer 4.1 version since early this year and has been enjoying the dramatic increase in speed and utility of the new program. We believe that the example set by the NIHS may serve to motivate additional Japanese companies to join those already using ClassPharmer in their discovery research.”
Momoko Beran, chief financial officer and director of human relations for the Company, noted: “As we have announced earlier, under our new policy for revenue recognition for multi-year contracts, we will recognize the revenue from this order ratably over the next five years. This practice will smooth out the lumpiness we experienced in earlier years when revenues from multi-year contracts were recognized up front.”
About Simulations Plus, Inc.
Simulations Plus, Inc. is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. We have two other businesses that are based on our proprietary technologies: a wholly owned subsidiary, Words+, Inc., which provides assistive technologies to persons with disabilities; and an educational software series for science students in middle and high schools known as FutureLab™. For more information, visit our Web site at www.simulations-plus.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: the ability of the Company to maintain its competitive advantage, the general economics of the pharmaceutical industry, the ability of the Company to finance growth, and a sustainable market. Further information on the Company’s risk factors is contained in the Company’s quarterly and annual reports as filed with the Securities and Exchange Commission.
