Image Solutions, Inc. | Press Releases

Image Solutions, Inc. Receives Technology Fast 50 Award for Sustained High Revenue Growth Over Past 5 Years

Whippany, NJ (August 18, 2005) – Image Solutions, Inc., (ISI) a global technology company and leader in providing software solutions and services for electronic regulatory submissions and clinical trials management, announced today that they have been awarded Deloitte & Touche LLP's New Jersey Technology Fast 50 Award for 2005. The award is given to companies in NJ that demonstrate phenomenal revenue growth during the period 2000-2004, and show strength, vision and temerity to succeed in today’s very competitive technology environment.

Paul Mlynarski, a partner with Deloitte Tax LLP and chairperson of Deloitte’s New Jersey Technology Fast 50 stated that, “Sustaining high revenue growth over five years is an exceptional accomplishment. We commend Image Solutions, Inc. for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor Image Solutions, Inc. and their CEO Jinsoo Kim as a Deloitte Technology Fast 50 winner”.

Image Solutions, Inc. is considered a pioneer in developing technology solutions for Pharmaceutical and Biotechnology companies worldwide, and has attributed their sustained revenue growth to increasing demand in this market for electronic document systems that can provide greater efficiency, increase collaboration, speed time-to-market and reduce inefficiencies typically associated with handling and storing paper documents.

In January, Images Solutions reported record profits and a 38% increase in revenues for 2004, and opened new offices in San Francisco’s Biotech Bay region and in Europe, with new offices in Frankfurt, Germany. In November 2004, ISI reported that we were selected by the European Medicines Evaluation Agency (EMEA) as one of only three vendors asked to install Electronic Common Technical Document (eCTD) software for the European Review System (EURS) project, a project that can have far-reaching results.

ISI’s CFO/ VP of Finance, Peter Kim stated that “We believe our continued revenue growth demonstrates a growing recognition by the worldwide pharmaceutical and biotechnology industry that ISI is a leader, in terms of value-added technology and professional services, that help pharmaceutical sponsors reduce drug development and submission costs and bring products to market quickly.”

When asked about ISI’s future plans, Peter Kim summarized, “All of this activity further improves our already strong balance sheet, and with our 12% reinvestment in R&D again this year, ISI is expected to continue to grow our best-in-class technology approach with our existing products and services, and continue to add new products and services to our portfolio over the next year. ISI is also proud to have continued a tradition of contributing 10% of net profit each year to charitable organizations, with specific contributions this year made to the Tsunami relief efforts through World Vision."

About Image Solutions, Inc.

Founded in 1992, Image Solutions, Inc (ISI) is a proven market leader in providing submissions solutions, process services and consulting to Life Sciences companies as a way to improve clinical and regulatory processes that bring new medicines to market. ISI was among the first professional services firm to deliver electronic submissions to the industry and since has delivered thousands of submissions. The company has a 49 percent market share among Top 50 global pharmaceutical for its flagship submission product, eCTDXPress, and 4 of the top 10 pharma now have ISIPublisher.

ISI is a privately held company with headquarters in Whippany, New Jersey and operations throughout the U.S., Europe and Asia. ISI also remains committed to giving back to society and sharing its success with others by donating 10 percent of annual net profits to over 20 recognized charitable organisations. For more information, visit the company website at: www.imagesolutions.com.