Bio-Imaging Technologies Inc. announced Monday that it hassigned two new project contracts worth more than $325,000with Immunomedics Inc. (NASDAQ:IMMU) of Morris Plains, N.J.,and Centocor Inc. (NASDAQ:CNTO) of Malvern, Pa.
A month ago, Bio-Imaging (NASDAQ:BITI) of West Trenton, N.J.,signed contracts worth $500,000 with Warner-Lambert Co. ofMorris Plains and Cytogen Corp. (NASDAQ:CYTO) of Princeton,N.J. All of these contracts are for the respective companies'"product development activities," which are in human trials,John Keane, Bio-Imaging's chief financial officer, told BioWorld.
"Bio-Imaging has already booked over $800,000 in businesssince the beginning of fiscal year 1993 (which started Oct. 1),"Keane said. Including a "backlog," this brings the value ofsigned contracts to $4.5 million, he told BioWorld.
Bio-Imaging Technologies' expertise is in combiningcomputerized data management with advanced medicalimaging technologies -- including magnetic resonance imaging(MRI), computed tomography (CT), positron emissiontomography (PET), single photon emission tomography (SPECT),fiberscopy and ultrasound -- to visualize and quantitate thebiological effects of therapeutic drugs and medical devices.
"By quantitatively analyzing images and enhancing theunderlying images (in some cases), we provide a highlyaccurate statistical base," Keane told BioWorld. "Because of thequantitative nature of how we apply the technology, we canuse fewer patients (in product evaluation)," Keane added.
-- Jennifer Van Brunt Senior Editor
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