Biowisdom Acquires the Bioinformatics Business of Lion Bioscience AG.
4 April 2006, BioWisdom Limited, a world leader in the development and application of Intelligence Networks for the pharmaceutical industry, announced today that it has acquired the bioinformatics business of LION bioscience AG (“LION”), which is based around the SRS suite of data integration products.
In accordance with an agreement announced today, BioWisdom will purchase the shares of LION bioscience Ltd, and its subsidiary LION bioscience Asset Vehicle Inc. from LION for a total consideration of up to EUR 4 million.
LION has established SRS as the industry standard solution for data integration, with a strong base of over 300 commercial and academic customers. BioWisdom will continue to support and develop SRS and will be contacting its customers to confirm its commitment to enhance and build the business.
“The acquisition of LION’s bioinformatics business is an important step in our commercial strategy aimed at creating an international healthcare intelligence brand and reflects our ambition to be the world’s leader in healthcare intelligence.” said Gordon Smith Baxter, CEO of BioWisdom. “We believe that the combination of the SRS product infrastructure with BioWisdom’s expertise in the application of Intelligence Networks will provide a powerful new capability for customers, spanning the areas of drug discovery through to drug development and the regulatory process ”.
“ In deciding to sell our bioinformatics business, we have been seeking a partner who can offer a robust and exciting future for the SRS product suite and its customers. In BioWisdom we found a company that has extensive experience of delivering healthcare intelligence, using a new generation of software tools, to answer business-critical questions in many different areas of a pharmaceutical company. ” said Peter Willinger, CFO of LION.
SRS product development, support and sales will remain in Cambridge, UK and Lion’s US-based sales and support staff will continue to be located in the Boston area.
Notes to Editors
ABOUT BIOWISDOM LTD
BioWisdom Limited, headquartered in Cambridge, UK, creates Intelligence Networks which are used to support decision making in all areas of the healthcare industry from early stage drug discovery and clinical development through to market profiling and due diligence on new products. The BioWisdom team combines extensive experience of the pharmaceutical and biotechnology industries with proven expertise in life science software development.
ABOUT LION BIOSCIENCE AG
Lion bioscience AG was founded in March 1997. The company’s aim via its bioinformatics business was to help life science companies increase their productivity in the R&D process. With its SRS software solutions, it took on the great challenges of making the huge amounts of available data easier to use and allows customers to make better and faster decisions about their research projects. The company is currently redefining its business model in light of the changes agreed in March 2005. Lion bioscience AG is based in Heidelberg, Germany.
SRS is a proven, scalable and robust data integration platform that provides fast access to diverse life sciences data – genetic, protein, cellular, molecular and clinical — from public and proprietary sources, regardless of data format. SRS is used in more than 300 commercial and academic sites delivering data daily to tens of thousands of users around the globe. SRS is the market leader for bioinformatics data integration, providing global bioinformatics platforms for many of the world’s largest pharmaceutical and biotech companies.
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