DILIsym Services Inc., a Simulations Plus Company, Releases DILIsym® Version 7A

Significant update of liver safety program includes performance and capability enhancements

Research Triangle Park, NC, January 11, 2018 – DILIsym Service, Inc., a Simulations Plus company (NASDAQ: SLP) and a leading provider of simulation and modeling software for pharmaceutical safety and efficacy, today announced that it has released Version 7A of its flagship QSP (quantitative systems pharmacology) modeling program, DILIsym®.

Dr. Paul Watkins, chair of the DILI-sim Scientific Advisory Board, said: “We are excited to release DILIsym v7A to the members of the DILI-sim Initiative so they can continue using the software to improve the efficiency of the drug development process. The important updates and new features included are the direct result of feedback from our member companies and the oversight of the Scientific Advisory Board. We look forward to continuing to partner with DILI-sim Initiative member companies to further improve its predictive power.”

Dr. Brett Howell, President of DILIsym Services, added, “This latest release of DILIsym is the result of intense effort by our talented modeling and simulation team and the support of our member companies. It includes exciting new tools for improving the usability of the software, and we are thrilled to make version 7A available to the members.”

A sample of the enhancements includes:
  • New validation compounds (tolvaptan, lixvaptan, erythromycin, clarithromycin, azithromycin, solithromycin, telithromycin and BMS-932481)
  • New Optimization interface added allowing complex fitting using genetic algorithms
  • New Clinical Monitoring feature allowing dynamic clinical trials with dose alterations based on specified thresholds
  • New Weight Adjusted Dosing option
  • New Export enhancements providing better information on simulation setup within exported Excel file
  • MATLAB 2017b friendly – faster simulations (delivered in MATLAB 2017b Runtime environment)
  • 2 NEW SimPops
    • Combined ALT biomarker parameter variability with toxicity pathway parameters
    • Mitochondrial biogenesis parameter variability added to SimPops with toxicity pathway parameters
  • NEW feature allowing for creation of Custom SimCohorts from existing SimPops / SimCohorts
  • UPDATED Initial Conditions infrastructure allowing for importing of custom SimPops in compiled version
  • UPDATED Output Table with more clinically important metrics built in
  • DILIsym documentation resources updated for new features
Walt Woltosz, chairman and chief executive officer of parent company Simulations Plus, said: “The DILIsym team has pushed the state-of-the-art forward for the simulation of drug-induced liver injury in the DILIsym platform. Version 7A’s advances provide important new capabilities to enable our customers to better assess the potential for liver damage from new and existing drug compounds. Drug-induced liver injury can result in extreme financial loss when a drug development project has to be canceled, so identifying the potential for it, as well as how serious it might be, needs to be done as early in development as possible. Avoiding a disaster in expensive clinical trials or even post-approval can inform a manager’s decision to switch to an alternate molecule or to identify situations that can be managed to minimize liver injury to an acceptable level. “

About DILIsym Service, Inc.

DILIsym Services, Inc. was founded in 2015 in Research Triangle Park, North Carolina, and is the leading provider of drug-induced liver injury simulation software and related consulting services to the pharmaceutical industry. The company spun out of the former Hamner Institutes, acquiring all of the intellectual property, software, documentation, and other materials for the DILIsym software. The company’s other products include MITOsym® for simulating in vitro mitochondrial function and a newer product called NAFLDsym™ for the study of nonalcoholic fatty liver disease – a worldwide disease with few available treatment options.  More information is available on the company’s Web site at https://www.dilisym.com.

About Simulations Plus, Inc.

Simulations Plus, Inc., is a premier developer of drug discovery and development software as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical and biotechnology agents. Our software is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies and regulatory agencies worldwide. Our innovations in integrating new and existing science in medicinal chemistry, computational chemistry, pharmaceutical science, biology, and physiology into our software have made us the leading software provider for physiologically based pharmacokinetic modeling and simulation. For more information, visit our website at www.simulations-plus.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect,” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports and filed with the U.S. Securities and Exchange Commission.

CONTACT:

Simulations Plus Investor Relations                               Hayden IR
Ms. Renee Bouche                                                          Mr. Cameron Donahue
661-723-7723                                                                  651-653-1854
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Simulations Plus, Inc.
42505 10th Street West
Lancaster, CA 93534-7059

DILIsym Services Inc., a Simulations Plus Company, Releases DILIsym® Version 6A

Significant update of liver safety program includes performance and capability enhancements

Research Triangle Park, NC, August 8, 2017 – DILIsym Services Inc., a Simulations Plus company (NASDAQ: SLP) and a leading provider of simulation and modeling software for pharmaceutical safety and efficacy, today announced that it has released Version 6A of its flagship QSP (quantitative systems pharmacology) modeling program, DILIsym.

Dr. Paul Watkins, chair of the DILI-sim Scientific Advisory Board, said: “We are excited to release DILIsym v6A to the members of the DILI-sim Initiative so they can continue using the software to improve the efficiency of the drug development process. The important updates and new features included are the direct result of feedback from our member companies and the oversight of the Scientific Advisory Board. We look forward to continuing this process of developing DILIsym for optimal use through the DILI-sim Initiative as we enter Stage 3 of the consortium over the next three years.”

Dr. Brett Howell, President of DILIsym Services, added, “This new release of DILIsym is the result of many months of intense effort by our talented modeling and simulation team and the support of our member companies. It reflects the priorities of the pharmaceutical liver safety community, as represented by the member companies of the DILI-sim Initiative, and we are excited to make this new product available to the members.”

A sample of the enhancements include:

  • New validation compounds (ambrisentan, sitaxsentan, phenformin, nelfinavir)
  • New simulated population focused on biomarker variability, SimPops™ (v6A-1), with variability in alanine aminotransferase (ALT) parameters
  • New capability for population-level PK data input (for enhanced compatibility with Simulations Plus’ GastroPlus™ and other PBPK programs)
  • Substantial improvements in the PBPK submodel
  • Addition of TNF-α-mediated survival and regeneration for better representation of pleiotropic functionality
  • Updated DILIsym documentation resources, now embedded within the software

Walt Woltosz, chairman and chief executive officer of parent company Simulations Plus, said, “This major release follows our first two months of operations with DILIsym Services, and we are very pleased with the operation and organization of our new division. I like to say that we sell productivity for drug development, and simulation and modeling software provides a tremendous bang for the buck. The DILIsym software provides important information to pharmaceutical companies regarding the potential for drug-induced liver injury from new and existing compounds, and this information synergizes well with GastroPlus and other modeling solutions from Simulations Plus. Project managers can make more informed decisions with respect to taking new compounds forward or switching to alternate compounds based on the insight gained through DILIsym into the likelihood of liver toxicity prior to conducting expensive and time-consuming clinical trials.”

About DILIsym Services Inc.

DILIsym Services, Inc. was founded in 2015 in Research Triangle Park, North Carolina, and is the leading provider of drug-induced liver injury simulation software and related consulting services to the pharmaceutical industry. The company spun out of the former Hamner Institutes, acquiring all of the intellectual property, software, documentation, and other materials for the DILIsym software. The company’s other products include MITOsym® for simulating in vitro mitochondrial function and a newer product called NAFLDsymfor the study of nonalcoholic fatty liver disease – a worldwide disease with few available treatment options.  More information is available on the company’s Web site at https://www.dilisym.com.

About Simulations Plus, Inc.

Simulations Plus, Inc. is a premier developer of drug discovery and development software as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical and biotechnology agents. Our software is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies and regulatory agencies worldwide. Our innovations in integrating new and existing science in medicinal chemistry, computational chemistry, pharmaceutical science, biology, and physiology into our software have made us the leading software provider for physiologically based pharmacokinetic modeling and simulation. For more information, visit our website at www.simulations-plus.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect,” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.

CONTACT:

Simulations Plus Investor Relations                             Hayden IR
Ms. Renee Bouche                                                    Mr. Cameron Donahue
661-723-7723                                                            651-653-1854
This email address is being protected from spambots. You need JavaScript enabled to view it.                                     This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Simulations Plus, Inc.
42505 10th Street West
Lancaster, CA 93534-7059

Simulations Plus Closes Acquisition of DILIsym Services, Inc.

June 1, 2017 16:44 UTC

LANCASTER, Calif.--(BUSINESS WIRE)-- Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that the Stock Purchase Agreement (the “Agreement”) with DILIsym Services, Inc. (“DILIsym”) of Research Triangle Park, North Carolina, announced on May 1, 2017, has been closed as of today, and DILIsym is now a division of Simulations Plus. DILIsym is the global leader in the simulation of drug-induced liver injury (“DILI”).

Pursuant to the Agreement, upon closing, DILIsym has become a wholly owned subsidiary of Simulations Plus and will continue to operate under the DILIsym name. As a result of this accretive acquisition, the total number of Simulations Plus employees is increasing from 70 to 81. DILIsym realized revenues of just over $3 million in 2016 with $720,000 in net earnings. Management expects to grow the business going forward.

Walt Woltosz, chairman and chief executive officer of Simulations Plus, Inc., said, “This is an exciting step forward for both Simulations Plus and DILIsym Services, Inc. Drug-induced liver injury can result in failed clinical trials and in drugs being withdrawn from the market, both of which are a financial disaster to a pharmaceutical company. Thus, it is important to identify new drug compounds that may produce DILI as early as possible in the development cycle in order to eliminate them and to focus resources on compounds more likely to be successful. Dr. Brett Howell has been appointed president of the division. Dr. Scott Siler has been appointed chief scientific officer. Dr. Bud Nelson will serve as director of operations. We look forward to collaborating with the management team of DILIsym to advance further the study and simulation of drug-induced liver injury.”

Dr. Howell added, “I look forward to working with Walt, the scientists at Simulations Plus and Cognigen, and the board of directors to ensure the continued success of our company. I am excited about the opportunities this combination of technologies affords for the future of clinical pharmacology. The strong interest in pharmaceutical companies and regulatory agencies in avoiding DILI for new drugs fuels our DILI-sim Initiative.”

The DILI-sim Initiative, under the direction of Dr. Paul Watkins, professor at the University of North Carolina and world-renown expert on DILI, is a consortium of 12 pharmaceutical companies that fund, guide, and support through their technical expertise the further development of the DILIsym software. Dr. Watkins is also chair of the Company’s prestigious scientific advisory board, made up of global leaders in the study of drug-induced liver injury.

The Agreement

The Agreement called for the acquisition of DILIsym Services, Inc. to become a wholly owned subsidiary of Simulations Plus with the subsidiary continuing to operate under the name DILIsym.

Under the terms of the Agreement, Simulations Plus will pay the shareholders of DILIsym Services, Inc. a potential total all-cash consideration of $10 million for all of the shares of DILIsym. The initial payment of $5 million was adjusted to approximately $4.5 million to reflect a $1 million, 18-month holdback to satisfy any indemnifiable claims that may arise pursuant to the terms of the Agreement, and an addition of just over $500,000 for excess cash and working capital left in the business by the shareholders. A three-year earn-out period will exist following the closing during which up to an additional $5 million, based on the adjusted pretax income of the DILIsym division, can be earned.

Excel Partners, an investment bank with offices in New York and Los Angeles, acted as exclusive financial advisor to Simulations Plus in connection with this transaction. Procopio, Cory, Hargreaves & Savitch LLP served as legal counsel to Simulations Plus in connection with this transaction.

About Simulations Plus, Inc.

Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation and modeling software that is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, agrochemical, and food industry companies worldwide. The company’s Cognigen subsidiary in Buffalo, New York, provides clinical trial data analysis and consulting expertise to pharmaceutical companies across the globe. Simulations Plus is headquartered in Southern California and trades on the NASDAQ Capital Market under the symbol “SLP.” For more information, visit our Web site at www.simulations-plus.com.

About DILIsym Services, Inc.

DILIsym Services, Inc., was spun out of the now-defunct Hamner Institute in Research Triangle Park, North Carolina in 2014. The company is the leading provider of drug-induced liver injury simulation and consulting services. More information is available on the company’s Web site at www.DILIsymServices.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to properly manage the new combined company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.

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Contacts

Simulations Plus Investor Relations
Ms. Renee Bouche
661-723-7723
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
Hayden IR
Mr. Cameron Donahue
651-653-1854
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Source: Simulations Plus, Inc.

DILIsym® and the DILI-sim Initiative Highlighted at Digestive Disease Week (DDW) 2017

DILIsym® and the DILI-sim Initiative Highlighted at Digestive Disease Week (DDW) 2017

Industry Challenges and DILIsym Contributions at DDW 2017, May 5-9 in Chicago, Illinois

Research Triangle Park, N.C., May 17, 2017 – BioWorld™, The Daily Biopharmaceutical News Source, published an article on challenges faced by industry as a result of DILI and the need for predictive tools to address these challenges. The creation of the DILI‑sim Initiative, DILIsym software, and contributions to the current understanding of DILI, including recent work to differentiate drug effects on bilirubin from functional liver deficits were discussed.

Simulations Plus to Acquire DILIsym Services, Inc.

Accretive acquisition to expand Simulations Plus offerings by adding leading provider of drug-induced liver injury (DILI) software and consulting services

May 01, 2017 08:30 AM Eastern Daylight Time

LANCASTER, Calif.--(BUSINESS WIRE)--Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that it has entered into a Stock Purchase Agreement (the “Agreement”) with DILIsym Services, Inc. of Research Triangle Park, North Carolina.

Pursuant to the Agreement, upon closing, DILIsym Services, Inc. (“DILIsym Services”) will become a wholly owned subsidiary of Simulations Plus, Inc. (“Simulations Plus”) and will continue to operate under the DILIsym Services name. This accretive acquisition will result in the total number of Simulations Plus employees increasing from 68 to 79, and is expected to add more than $3 million to the revenues of the combined company in the coming fiscal year 2018.

Walt Woltosz, chairman and chief executive officer of Simulations Plus, said, “This is an exciting step forward for both Simulations Plus and DILIsym Services. The combination will significantly strengthen our software and consulting services efforts, and bolster our management team as well. I am pleased that the existing management team of DILIsym Services will remain with the company. The officers of DILIsym Services will be Dr. Brett Howell, who will serve as president, Dr. Scott Siler, who will serve as chief scientific officer, and Dr. Bud Nelson, who will serve as director of operations. In the aggregate, these three leaders have more than 50 years of relevant experience. I will remain as Chairman and CEO of Simulations Plus, overseeing all three divisions (Simulations Plus, DILIsym Services, and Cognigen Corporation). In addition, Professor Paul Watkins, M.D., of the University of North Carolina, internationally recognized as the foremost authority on drug-induced liver injury, will continue as the director of the DILI-sim Initiative Consortium and chairman of the Initiative’s Scientific Advisory Board. This consortium is an international group of twelve pharmaceutical companies that fund the ongoing development of the DILIsym® software.”

Dr. Brett Howell added, “Drug-induced liver injury (DILI) is a rare adverse drug reaction and is the leading cause for acute liver failure in the United States. It is also the most common factor that compels regulatory actions related to drugs, such as denial of approval or restriction of indications for using a drug. It is a prime area of concern for the U.S. Food and Drug Administration and other regulatory agencies worldwide. The DILIsym® software is the most advanced mechanistic mathematical model of drug-induced liver injury, simulating the mechanistic interactions and events from drug administration through the progression of liver injury and regeneration. DILIsym Services scientists have supported our customers to present results of DILIsym simulations to several regulatory agencies. We are excited to join Simulations Plus and take advantage of the various synergies that exist between the organizations.”

John Kneisel, chief financial officer of Simulations Plus, added, “We expect this deal will be immediately accretive to both revenues and earnings, and will not affect our ability to continue to distribute dividends. Of course, the Board of Directors determines the dividend each quarter and has the option of continuing, increasing, decreasing, or eliminating it at any time to meet the cash needs of the business.”

The Agreement

The Agreement calls for the acquisition of DILIsym Services by Simulations Plus with DILIsym Services becoming a wholly owned subsidiary of Simulations Plus following the closing of the acquisition, which is subject to final due diligence and other closing conditions. The closing date of the proposed acquisition is anticipated to be June 1, 2017.

Under the terms of the Agreement, Simulations Plus will pay the shareholders of DILIsym Services cash consideration of up to $10 million, comprised of $5 million up front plus an earn-out of up to an additional $5 million over the next three years, based on the profitability of the DILIsym Services division. The Agreement provides that $1 million of the total up-front consideration will be held back for 18 months to satisfy any indemnifiable claims that may arise pursuant to the terms of the Agreement.

Excel Partners, an investment bank with offices in New York and Los Angeles, acted as exclusive financial advisor to Simulations Plus in connection with this transaction. Procopio, Cory, Hargreaves & Savitch LLP served as legal counsel to Simulations Plus in connection with this transaction.

About Simulations Plus, Inc.

Simulations Plus, Inc. is a premier developer of groundbreaking drug discovery and development simulation and modeling software that is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, agrochemical, and food industry companies worldwide. Simulations Plus is headquartered in Southern California and trades on the NASDAQ Capital Market under the symbol “SLP.” For more information, visit our Web site at www.simulations-plus.com.

About DILIsym Services, Inc.

DILIsym Services, Inc. was founded in 2015 in Research Triangle Park, North Carolina, and is the leading provider of drug-induced liver injury simulation software and related consulting services to the pharmaceutical industry. The company spun out of the former Hamner Institutes, acquiring all of the intellectual property, software, documentation, and other materials for the DILIsym® software. The company’s other products include MITOsym® for simulating in vitro mitochondrial function, SimPops™ for evaluating the impact of patient variability, and a new product in development called NAFLDsym™ for the study of nonalcoholic fatty liver disease – a worldwide disease with few available treatment options. For calendar year 2016, its most recent fiscal year, DILIsym Services, Inc. revenues were just over $3 million with net earnings of approximately $720,000. More information is available on the company’s Web site at https://www.dilisym.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to properly manage the new combined company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the Securities and Exchange Commission.

Contacts

Simulations Plus Investor Relations
Ms. Renée Bouché, 661-723-7723
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
Hayden IR
Mr. Cameron Donahue, 651-653-1854
This email address is being protected from spambots. You need JavaScript enabled to view it.

Companies Supporting DILIsym® Software Development

 

2018 01 DILIsim Consortium 2