ROCHESTER, N.Y., May 9, 2008 (PRIME NEWSWIRE) -- VirtualScopics, Inc. (Nasdaq:VSCP), a leading provider of advanced medical imaging for clinical trials, today announced the results of its annual stockholders' meeting held on May 8, 2008 in New York City. The stockholders elected all of the nominees put forward by the board of directors for a one year term: Colby Chandler, Robert Klimasewski, Sidney Knafel, Jeff Markin, Norman Mintz, Charles Phelps, Terence Walts, Dan Kerpelman and Mostafa Analoui. The stockholders' also approved the ability for the company to effectuate a reverse stock split, if necessary, and the VirtualScopics, Inc. Non-Employee Director Compensation Plan, as well as ratifying the appointment of the company's independent registered public accounting firm, Marcum & Kliegman, LLP, for the fiscal year ending December 31, 2008.
The company's Chief Executive Officer, Jeff Markin and Chief Financial Officer, Molly Henderson presented a business overview which highlighted the significant progress made by the company over the past four years as well as its plans for the future.
"We are pleased with the strong support we've received from the vast majority of our stockholder base," said Jeff Markin. "We enjoyed this opportunity to meet with our stockholders allowing them the ability to learn more about our great company, interact with our board of directors and have their questions answered." He further added, "We believe we had a very productive meeting and look forward to providing updates on our continued achievements throughout the year."
About VirtualScopics, Inc.
VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development. VirtualScopics has developed a robust software platform for analysis and modeling of both structural and functional medical images. In combination with VirtualScopics' industry-leading experience and expertise in advanced imaging biomarker measurement, this platform provides a uniquely clear window into the biological activity of drugs and devices in clinical trial patients, allowing sponsors to make better decisions faster. For more information about VirtualScopics, visit www.virtualscopics.com.
Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.