VirtualScopics Backlog Exceeds a Record $20 Million

2008-07-15 08:15:00

                       115% increase over prior year



    ROCHESTER, N.Y., July 15 /EMWPresswire-FirstCall/ -- VirtualScopics, Inc.

(Nasdaq: VSCP), a leading provider of quantitative imaging for clinical

trials, today announced that its backlog currently exceeds $20 million

compared to $9.3 million at the same time a year ago, a greater than 100%

increase. The company calculates backlog as the amount remaining to be

recognized from active contracts and awards. Included in the backlog is

approximately $11 million in 2008 project awards, and expansions to current

studies, which compares to approximately $5.7 million for the same period

in 2007.



    "We are extremely pleased that our project backlog has exceeded $20

million for the first time in our history, this is a tremendous achievement

for the company," said VirtualScopics' President and Chief Executive

Officer, Jeff Markin. "Our growth in backlog coupled with a greater than

90% year over year increase in new contract awards are the best indicators

of the acceptance and demand in the marketplace for our services." He

further added, "We are excited about the progress to date and are looking

forward to continued momentum as we enter the second half of 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 http://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. These forward-looking statements include, but

are not limited to, statements regarding the backlog and new customer

awards in 2008 and/or statements preceded by, followed by or that include

the words "believes," "could," "expects," "anticipates," "estimates,"

"intends," "plans," "projects," "seeks," or similar expressions.

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. Many of these risks and uncertainties are discussed in the

Company's Annual Report on Form 10-KSB for the fiscal year ended December

31, 2007 filed with the Securities and Exchange Commission (the "SEC"), and

in any subsequent reports filed with the SEC, all of which are available at

the SEC's website at http://www.sec.gov . These include without limitation: the

risk of cancellation or delay of customer contracts or specifically as it

relates to awards of contracts currently under negotiation, the risk that

they may not get signed. Other risks include the company's dependence on

its largest customers and risks of contract performance. All

forward-looking statements speak only as of the date of this press release

and the Company undertakes no obligation to update such forward-looking

statements.




CONTACT: Investor Relations Contact: Company Contact: BPC Financial Marketing Molly Henderson John Baldissera Chief Business and Financial Officer (800)368.1217 500 Linden Oaks Rochester, New York 14625 (585)249.6231

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