“With a need to reduce the size of their operations, Pharmos contracted with Vectrocon to provide outsourced IT services for their headquarters in Iselin, NJ.”
 

Corporate Office
4 Slopebrook Lane
Colts Neck, NJ 07722

(732) 970-0309
sales@vectrocon.com

Florida Office
18459 Pines Blvd. #193
Pembroke Pines, FL 33029

(954) 295-1320
sales@v3c.com

Compliance and Review at Pharmos, Inc.

Vectrocon provides IT support and compliance services to Pharmos Corporation, a US based biotechnology company traded on the NASDAQ stock exchange. With a need to reduce the size of their operations, Pharmos contracted with Vectrocon to provide outsourced IT services for their headquarters in Iselin, NJ.

Vectrocon also assisted in the technology integration when Pharmos acquired Vela Pharmaceuticals. In order to better serve Pharmos’s needs, at the beginning of the year, Vectrocon split its activities for Pharmos into two areas— support and compliance.

As a publicly traded company, Pharmos is subject to a variety of legal compliance requirements, including the Sarbanes-Oxley Act (SARBOX). Vectrocon administers the network systems based upon previously established controls and helps to insure that requirements are being met. This includes required checks of audit logs, backup systems and other safeguards. Vectrocon provides a report to management indicating the status of these controls, meets with compliance auditors from insurers and reports on any abnormalities that might be encountered, such as a failed backup.

Vectrocon’s other service offering to Pharmos includes fixed fee technical support of their systems and help desk support for simple problems. This includes support of office suites, smart phones, desktop applications and software maintenance.

12/31/2008