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Company News Release
Bio-Imaging Technologies, Inc., a healthcare contract service organization, today announced it has partnered with AG Mednet, a global diagnostic imaging network, to provide a complete imaging service for clinical trials.
BIO-IMAGING TECHNOLOGIES PARTNERS WITH AG MEDNET TO OFFER COMPLETE
IMAGING SOLUTION FOR CLINICAL TRIALS
Partnership Increases Trial Efficiency and Enhances Data Quality
NEWTOWN, PA, December 8, 2008 - Bio-Imaging Technologies, Inc. (NASDAQ: BITI), a healthcare contract service organization that supports product development for the pharmaceutical, biotechnology and medical device industries, today announced it has partnered with AG Mednet, a global diagnostic imaging network, to provide a complete imaging service for clinical trials. The new service enables fast delivery of clinical trial images through a web accessible, secure network between clinical sites and Bio-Imaging's Imaging Core Lab (ICL), increasing efficiency while reducing costs. The service, which is available immediately, has already been deployed for active studies with Bio-Imaging's major pharmaceutical clients.
"By partnering with AG Mednet, Bio-Imaging Technologies now provides our customers with many key benefits over the manual transport methods commonly used in imaging trials," said Mark Weinstein, CEO of Bio-Imaging Technologies. "This partnership increases trial efficiency with faster
delivery of the imaging data, enhances data quality with fewer site queries, and reduces cost versus today's standard global courier shipments. As Bio-Imaging can manage all of the logistics to centralize radiologic data and provide expert independent review services for Phase I-IV clinical trials, we now provide a one-stop-shop for today's medical researchers."
Mr. Weinstein added, "Bio-Imaging receives study related data from over 11,000 sites and 80 countries and we understand that the adoption of this new process will take time. In light of that, we will continue to support the traditional transport methods that we are currently using in over 200 ongoing clinical trials."
AG Mednet's Clinical Trials Imaging network is a sophisticated infrastructure designed specifically for investigator sites and trial managers. At the investigator site, a web-enabled agent guides trial managers through a process to send the image studies and data directly to the ICL. The process typically takes minutes, compared to previously used methods that have taken hours or days.
"AG Mednet's extensive network is designed to route diagnostic images (both DICOM and non-DICOM based) for the most advanced studies, with sizes ranging from small CTs and MRIs to extremely large CTA/MRA and IVUS," said Abraham Gutman, President and CEO of AG Mednet. "This partnership enables faster transmission of images to Bio-Imaging's ICL, and the network's advanced de-identification capabilities will expedite analysis, increase data quality, and ultimately, reduce the time it takes to conduct clinical trials."
Bio-Imaging manages all aspects of radiologic data,- from study start-up and initiation through data collection, quality control and processing; to expert independent blinded review and delivery of final results. Its deep roster of board-certified radiologists, oncologists, rheumatologists, cardiologists and other therapeutic and modality-specific professionals ensures that trials receive the highest quality independent review. Bio-Imaging's partnership with AG Mednet simplifies contracting and implementation for its clients to a single line item, as Bio-Imaging manages all of the details.
To transfer images, investigator sites need only internet access with no IT administration required. A web-enabled desktop agent provides investigator sites with simple access to the clinical trials imaging network and an easy-to-use workflow tool to quickly import image studies, de-identify image
studies, complete transmittal forms with full validation of protocol-specific requirements, and send the image studies directly to the appropriate trial repository.
Bio-Imaging Technologies, Inc. is a healthcare contract service organization providing services that support the product development process of the
pharmaceutical, biotechnology and medical device industries. The Company has specialized in assisting its clients in the design and management of the
medical-imaging component of clinical trials since 1990. Bio-Imaging serves its clients on a global basis through its Core Labs in Newtown, PA, and Leiden, The Netherlands, along with business offices in the United States, The Netherlands, Germany and France. Phoenix Data Systems, Inc., a division of Bio-Imaging Technologies, is a leading global clinical data services provider of electronic data capture (EDC) services and a comprehensive array of broadly interoperable eClinical data solutions to the pharmaceutical and biotechnology industries. Phoenix Data Systems delivers full service EDC, a unique combination of electronic data capture, interactive voice response, reporting, and data management solutions. Through its CapMed Personal Health Management Suite, Bio-Imaging provides its Personal HealthKeyT technology, the Personal Health Record (PHR) software, and CapMed Patient Portal allowing patients to better monitor and manage their health care information. Additional information about Bio-Imaging is available at www.bioimaging.com.
AG Mednet, Inc. is a global diagnostic imaging network. Pharmaceutical, biotech and medical device companies, core labs and clinical research organizations (CROs) utilizing imaging technology as part of their trial protocol rely on AG Mednet's automated system to enable the secure electronic transfer of cases from hundreds of locations, enhancing site compliance while providing detailed reporting necessary to meet the most stringent regulatory requirements. Clinical Trial Managers and Teleradiology providers requiring faster, more efficient, more flexible and more scalable image transport from remote sites to their readers rely on AG Mednet's dedicated, carrier-class network to route uncompressed studies of all types and sizes, as well as associated clinical data securely and efficiently through its robust fiber-optic network infrastructure. AG Mednet is headquartered in Boston and serves the global medical community. Additional information about AG Mednet is available at www.agmednet.com.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the consummation and the successful integration of current and proposed acquisitions, the timing of projects due to the variability in size, scope and duration of projects, estimates and guidance made by management with respect to the Company's financial results, backlog, critical accounting policies, regulatory delays, clinical study results which lead to reductions or cancellations of projects, and other factors, including general economic conditions and regulatory developments, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance. You should review the Company's filings, especially risk factors contained in the Form 10-K and the recent form 10-Q.