Simulations Plus Finalizes Distributor Agreement with Korean Company
Local sales channel should lead to further penetration of domestic Korean pharmaceutical market
Lancaster, CA—April 6, 2017—Simulations Plus, Inc. (Nasdaq: SLP), a leading provider of modeling and simulation solutions for the pharmaceutical, biotechnology, and chemicals industries, today announced that it has entered into a distributor agreement in South Korea with Quantum Bio Solutions (Q-Bio).
John DiBella, vice president for marketing and sales of Simulations Plus, said, “We are excited to be partnering with Q-Bio to further serve the needs of the South Korean scientific markets. We have been hosting annual GastroPlus™ modeling and simulation workshops at Chungnam National University in Daejeon, South Korea, since 2014, and we have been encouraged by the response to our technology. The South Korean government has pledged nearly $9 billion to help domestic drug makers develop twenty new drugs with the goal of being among the world’s top seven global pharmaceutical producing countries by the year 2020. Therefore, we see this as a most opportune time to have a local presence in South Korea to increase awareness of Simulations Plus and our suite of offerings, while also strengthening the relationships we have already formed with South Korean companies and universities.”
Art Cho, Ph.D., Professor at Korea University and President/Chief Scientific Officer at Q-Bio, added, “Q-Bio has been searching for a business opportunity that would complement and expand our current offerings in the field of computational drug discovery and development. Simulations Plus is a recognized leader in this field, and we are very happy to serve as a partner for them. We look forward to a very fruitful relationship, as we expect to help Simulations Plus achieve meaningful growth in the burgeoning South Korean pharmaceutical market.”
About Simulations Plus, Inc.
Simulations Plus, Inc., is a premier developer of drug discovery and development software as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical and biotechnology agents. Our software is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies and regulatory agencies worldwide. Our innovations in integrating new and existing science in medicinal chemistry, computational chemistry, pharmaceutical science, biology, and physiology into our software have made us the leading software provider for physiologically based pharmacokinetic modeling and simulation. For more information, visit our website 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. Words like “believe,” “expect,” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.
For further information:
Simulations Plus, Inc.
42505 10th Street West
Lancaster, CA
93534-7059 USA
CONTACT:
Simulations Plus Investor Relations
Ms. Renee Bouche
661-723-7723
renee@simulations-plus.com
Hayden IR
Mr. Cameron Donahue
651-653-1854
cameron@haydenir.com
