Business, diagnostic imaging  

Bio-Imaging acquires French neurology imaging lab Theralys SA

14 February 2006

Newtown, Pa., USA.  Bio-Imaging Technologies, Inc. (NASDAQ: BITI), has acquired French company Theralys SA, a leading provider of customized imaging services in the field of central nervous system disorders (CNS) and neurovascular diseases.

Theralys’ proprietary image processing software enables the introduction of quantitative imaging markers in the design of clinical trials for neurovascular and CNS disorders, including stroke, secondary prevention drugs, multiple sclerosis and dementia including Alzheimer’s disease (AD).

Theralys, founded in 2001 and based in Lyon, France, operates an imaging core lab providing centralized blinded read services and image analysis. Their proprietary and validated software for clinical trials includes applications which enable the automated quantitation of various imaging parameters such as brain, white matter lesion and hippocampal volumes, MRI diffusion and perfusion. Such measurements are currently used by pharmaceutical and biotechnology companies in ongoing phase II-III-IV trials in neurodegenerative diseases for the evaluation of response to therapy and/or indicators of disease progression over time.

Bio-Imaging’s Medical Director, Andrea Perrone, notes, “It is estimated that there are currently more than 10 million patients globally with Alzheimer’s Disease. With the aging of the baby boomer population, it is expected that the prevalence of this disease will expand. It follows that clinical trials for AD therapeutics will also increase, and Bio-Imaging will be poised to offer our solutions to our clients.”

Theralys has an outstanding team of professionals led by Chahin Pachai, Ph.D. Under his leadership, Theralys has successfully participated in numerous multinational trials for leading pharmaceutical and biotechnology companies throughout the world. In addition, their research program with valuable clinical applications in cardiovascular and oncology clinical trials includes measurements of vascular plaques and automated tumour assessment, respectively.

Mark Weinstein, President and CEO of Bio-Imaging, said, “This planned acquisition is consistent with our strategy to be the leader in medical imaging core lab services by expanding our therapeutic expertise in the CNS and neurovascular area, introducing new image analysis solutions and strengthening our global presence. The addition of Chahin Pachai, Ph.D., Theralys’ Executive Director, and the expertise of Theralys’ professional team increases the depth and breadth of our management team and strengthens our clinical expertise.”

Dr. Chahin Pachai, Executive Director of Theralys, added, “We are pleased to be joining a leading international provider of medical imaging services for clinical trials. We have gotten to know Bio-Imaging through working together on a large Phase III multicenter trial for an international pharmaceutical company and appreciate that Bio-Imaging places the same high value on quality and customer service as we do. We are pleased that, by joining forces with Bio-Imaging, we will be able to leverage Bio-Imaging’s global operational capabilities and extensive sales and marketing effort in order to expand the breadth of services we offer and extend our global reach.”

Mr. Weinstein concluded, “We continue to look for equally suitable acquisitions. We will keep our shareholders and the market informed as we pursue additional transactions.”

Bio-Imaging has a worldwide core lab in Newtown, Pennsylvania, and a European core lab in Leiden, The Netherlands. It specializes in the design and management of the medical-imaging component of clinical trials. Through its CapMed division, it provides the Personal HealthKey technology and personal health record (PHR) software allowing patients to better monitor and manage their health care information.

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