Velos eResearch Version 8 Release Slated for July 8 Launch

June 19, 2008

Company News Release

Velos, Inc., a resource for clinical trial management information systems for large investigator sites and sponsors, today announced the July 8 launch of Velos eResearch Version 8, bringing customers a host of advanced features and functions on a pure Internet platform.

Velos eResearch Version 8 Release Slated for July 8 Launch
 
- Advanced technology coupled with high software quality standards benefit customers -
 
    FREMONT, Calif., June 19 /PRNewswire/ -- Velos, Inc., the recognized leader and trusted resource for clinical trial management information systems for large investigator sites and sponsors, today announced the July 8 launch of Velos eResearch Version 8, bringing customers a host of advanced features and functions on a pure Internet platform.
    "Our development team works closely with our customer support team," stated John S. McIlwain, CEO of Velos. "This close association gives our development team excellent access and sensitivity to the needs of our customers. We built Version 8 to make life easier for our customers and their end users with a continued focus on providing software that adapts to customer needs and workflow -- not the other way around."
    A diverse range of end users across the Velos customer base use Velos eResearch to improve the efficiency and safety of their clinical studies.  Velos market share among large, highly regarded medical centers has continued to increase throughout the past few years and now includes 21 Top 25* U.S. centers. Clinical and Translational Science Award (CTSA) winners have chosen Velos by a wide margin versus all other vendors combined.  Velos eResearch customers also receive 30 percent of extramural clinical research funding from the National Institutes of Health -- also the largest such share for any commercial clinical trial management system.  Most of these larger institutions are rolling out Velos eResearch across their healthcare systems and medical research programs.
    Velos eResearch Version 8 is wholly influenced by the identified, diverse needs of end users and managers across the customer base.  Most Velos customers require high levels of flexibility, configurability and interoperability.  They need systems that are adaptable, molding around their internal systems and adapting to their individual end users workflow and organizational structure.  A significant number of enhancements also focus on financial system needs, as well as day-to-day patient and research management.
    According to Priti Sahai, M.D., Vice President of Product Development, "Version 8 expands on our focus on delivering sophisticated systems that can work 'out of the box,' are easy to use, and yet have a broad and deep functional scope.  At the same time, Version 8 further extends high levels of configurability such that each customer can work with the software, make it their own, and use their own distinct nomenclature and organizational approach."

    One of many Version 8 enhancements is the ability to take calendars off line for editing. It is well known that calendars tend to change in the middle of studies and unexpected events tend to happen, calling for dynamic calendars. The ability to take a calendar off line, edit it, and reapply it to a study while also continuing to leverage calendar funds to support regulatory, audit trail, billing and other administrative needs, requires sophisticated software.  
    "The Velos eResearch system engine is doing a lot of work in the background but the end user is only aware that it makes some challenging tasks fast and easy and that it works," continued Dr. Sahai. "Many users have told us how happy they are about the additional power and flexibility Version 8 will put into customers' hands."
 
    About Velos
    Velos is the trusted clinical trial management resource for investigators, sponsors and academic leaders throughout the U.S.  Velos eResearch is deployed for clinical research in all parts of the healthcare enterprise and supports a broad diversity of clinical departments and functional needs. The system fundamentally improves the way data is collected, organized and shared. Velos applies rigorous software quality assurance (SQA) standards in its software development process and is the only software vendor in widespread use at investigator sites that is also CFR Part 11 compliant. A pure Internet technology platform, Velos eResearch harnesses advanced powers of the Internet to enable research sites, sponsors, and patients to participate in a secure, integrated system platform.  System users are freed of redundant data entry and related time delays associated with most clinical research today. With emphasis on workflow, Velos integrates the clinical, administrative and financial information needs of research management. Velos eTools, a companion product to Velos eResearch, empowers customers by giving them ownership and access to functions such as system configuration, data migrations, custom reporting and third party data submissions.  Founded in 1996, Velos is privately held with headquarters in Fremont, California.  For more information, visit http://www.velos.com.
 
    This press release may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements.
 
    *U.S. News & World Report, Best Hospitals Survey
 
SOURCE  Velos, Inc.
    -0-                             06/19/2008
    /CONTACT:  Janice Odell of The Ford Odell Group, +1-415-738-2165, [email protected], for Velos, Inc./
    /Web site:  http://www.velos.com /
 

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