VirtualScopics (VSCP) Closes Convertible Preferred Stock Sale to Merck Global

VirtualScopics, Inc. (Nasdaq: VSCP), has completed the first closing in a sale of a new series of convertible preferred stock to the Merck Global Health Innovation Fund, for a purchase price of $3 million with an additional investment of $3 million upon achievement of certain milestones. The transaction is part of an investment to provide funding for VirtualScopics' efforts to expand its quantitative imaging technology into new markets, including personalized medicine.

Currently, VirtualScopics utilizes its quantitative imaging technology for the characterization of structural and functional information, enabling early efficacy determination and studies evaluating drug mechanism of action. Through this investment, the company intends to bring quantitative imaging to individual physicians and patients and believes it will have a significant impact in the personalization of medicine, and, in certain therapeutic areas that offer the potential for early diagnosis.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Denarius Metals acquires 15% stake in Copper Giant, Trafigura invests
• MAIA Biotechnology (MAIA) files $150M mixed shelf
• Alzamend Neuro (ALZN) files for 98.4M share offering by selling stockholders