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IBM Plans to Increase Life Science Investment in 2001

NEW YORK, Dec 18 – An IBM spokeswoman said Monday that the company intends to augment the $100 million life sciences initiative it launched in August to develop IT solutions for biotechnology, genomic, e-health, pharmaceutical, agri-science, and other life sciences industries.

While the full amount has not yet been determined, IBM spokeswoman Theo Chisholm told GenomeWeb that the company may increase the initial investment up to $100 million over the course of the year.

The funds would be directed toward “forming new partnerships and increasing the sales force in the United States and Europe,” according to Chisholm.

The additional investment “reflects our confidence in the growth of this sector,” Chisholm said.

Since August IBM has invested in technology partnerships with Incyte Genomics, First Genetic Trust, and Structural Bioinformatics.      

Earlier on Monday, the company announced that it would build a 7.5-teraflop computing cluster for NuTec Sciences of Atlanta.

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