SCIMAGIX LAUNCHES ROI CALCULATOR
Tool Determines That Companies Can Save
Millions of Dollars Yearly Using Scimagix
SAN MATEO, Calif. – July
31, 2003 – Scimagix™ Inc.,
the pioneer of enterprise image informatics
solutions for pharmaceutical and biotechnology
research and development (R&D),
today announced the availability of
the Scimagix ROI (Return on Investment)
Calculator. The calculator is free
and can be obtained by going to www.scimagix.com.
The new Web-based tool allows pharmaceutical
and biotech companies to effortlessly
determine the potential savings from
using Scimagix's Scientific Image Management
System (SIMS®). SIMS™ allows
scientists to easily manage and leverage
the large quantities of image data
that they generate to make better and
faster decisions in their research.
Drug discovery companies are under immense
pressure to streamline their (R&D)
processes while keeping spending to a
minimum. SIMS™ extracts valuable
knowledge from R&D image data and
makes it easy to manage, search and integrate
image-based data across the organization
to facilitate faster drug discovery.
Using the Scimagix ROI Calculator, researchers
can determine the total cost saved per
year using SIMS™.
The following examples are based on
actual situations in labs at major pharmaceutical
companies. The results are representative
of what can be achieved using SIMS™ and
where these pharmaceutical companies
have quantified return on investment
criteria:
- Total cost associated with duplication
of experiments as result of poor
management of image data.
- For example: A lab
performed 4,800 experiments
in one year with an average
cost $500 per experiment. The
researchers found that due
to inefficiencies in managing
their image data, 240 experiments
had been duplicated—a
rate of five percent. With
Scimagix's ROI Calculator,
the lab determined that the
total cost associated with
duplication of experiments
equaled $120,000.
- Total cost per year associated with
searching for image data
- For example: The
same lab found that 20 researchers
spent an average of 1 hour
per week searching for archived
image data. At an average cost
of $150 per hour, the ROI Calculator
determined that the cost per
year, over a 50 working week
year, associated with 20 scientists
searching for images totaled
$150,000.
- Cost saved by eliminating compounds
early
- For example: One
of the companies found that
by evaluating image data it
was able to save $120,000 each
month by eliminating a compound
early and hence being able
to redirect their scientists
to work on more promising projects
sooner. In this case, they
estimated they were able to
save, in one year, $720,000.
- Cost of data lost due to lack of
interpretable image metadata
- For example: As
with many labs, researchers
were storing their images on
CDs. Over the course of five
years, the lab produced 25
CDs of images. Because of the
lack of interpretable image
metadata, researchers were
faced with regenerating the
images at an average cost of
$100 per image. The cost of
regenerating the image data
totaled $1,625,000.
“In today's flagging economy,
companies rightfully demand that the
solutions they choose to invest in will
positively effect the success of their
business,” said Robert Dunkle,
president and CEO, Scimagix. “The
Scimagix ROI Calculator is designed to
help decision makers discover and understand
how SIMS™ and image informatics
can assist them in running their labs
more efficiently and successfully, while
saving millions of dollars.”
Image informatics is the integration
of valuable image and non-image data
to better understand biology and reach
better decisions. SIMS™ is the
only open, scalable, Web-deployed enterprise
image management system that enables
compliance with 21 CFR Part 11 standards
for electronic data submission to the
FDA. The enterprise-wide, multi-site
software system, designed for image data,
allows scientists to search, mine, analyze
and share results.
About Scimagix Inc.
Scimagix™ Inc., based in San Mateo,
Calif., is the leading provider of image
informatics solutions for pharmaceutical
research and development (R&D). Its
flagship SIMS™ (Scientific Image
Management System) platform, an Oracle®/Web-based
database management system, utilizes
open architecture to deliver a comprehensive
and searchable image database. Image
informatics technology integrates valuable
image and non-image data into SIMS™,
allowing scientists to search, mine and
analyze all results. ProteinMine™,
running on top of SIMS™, supports
high throughput analysis and mining of
image data with proprietary visual content
search technology, dramatically increasing
the accuracy and productivity of R&D
processes. Scimagix serves most of the
top 15 pharmaceutical companies including
Pfizer Global R&D, Hoffmann La Roche
and Eli Lilly & Co. For more information
about Scimagix, please visit www.scimagix.com.
