Ann Arbor, Michigan, June 12th, 2014: Therapeutic Systems Research Laboratories, (TSRL), Inc. announced today that it has entered into a Termination and Non-Assertion Agreement (the “Agreement”) with Simulations Plus, Inc., a California corporation (“SLP”). Under the terms of the Agreement, SLP and TSRL agreed to terminate the Exclusive Software Licensing Agreement, under which TSRL licensed to SLP Software Technology and Databases in return for royalty payments. SLP will pay TSRL a total consideration of $6 million.
TSRL, Inc. is a privately held oral drug delivery specialty firm focused on R&D efforts to enhance the targeted delivery of investigational and marketed therapeutics. More detailed information about TSRL is available on the company website www.tsrlinc.com or can be requested by contacting Dr. Elke Lipka, Vice President of Business Development, 734 663-4233 x236, firstname.lastname@example.org.