Simulations Plus Joins European Consortium on Development of Oral Bioavailability Tools (OrBiTo)
Simulations Plus is the only non-European company invited to consortium
LANCASTER, Calif.--(BUSINESS WIRE)-- Simulations Plus, Inc. (NAS: SLP) , a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that it has accepted an invitation and signed a formal agreement to participate in the European Union Oral Bioavailability Tools (OrBiTo) project. Simulations Plus is the only non-European company invited to participate.
The OrBiTo project was established as part of the Innovative Medicines Initiative Joint Undertaking (IMI-JU). The purpose of this new collaboration is to advance various tools, including computer software, used to predict oral absorption of drugs by sharing data and technologies across the member companies.
Walt Woltosz, chairman and CEO of Simulations Plus, said: "The OrBiTo project involves a total of 27 companies ranging from the world's largest pharmaceutical companies to smaller companies, including a few software companies. Simulations Plus is the only company without an operational office in a European country that was invited to participate. This speaks well to the Company's reputation for outstanding science and software on a global scale, and we are excited to leverage this invitation both with other member organizations and in our general marketing efforts. As a non-European member, we will not receive funding for our efforts, but we will be granted access to important data to be shared equally among members, and we will be in a position to better serve our European customers. Simulations Plus is very pleased to have been considered for participation in this important multi-year collaboration."
About Simulations Plus, Inc.
Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation and modeling software, which is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, agrochemical, and food industry companies worldwide. We also provide a productivity tool called Abbreviate! for PCs. Simulations Plus, Inc., is headquartered in Southern California and trades on the NASDAQ Capital Market under the symbol "SLP." For more information, visit our Web site at www.simulations-plus.com.
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