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Lion, GeneProt Ink Deal to Market Proteomics-Based Informatics

NEW YORK, March 14 - Lion Bioscience and GeneProt on Thursday said they will market an "integrated offering" that brings together GeneProt's proteomics technology with Lion's bioinformatics tools.

Terms of the three-year collaboration call for GeneProt to license Lion's SRS and DiscoveryCenter software together with its piSCOUT and pathSCOUT technologies. The North Brunswick, NJ-based company will also spend as much as $4.95 million on "related" but undisclosed services from Lion, it said. 

In return, Lion, of Heidelberg, Germany, will add GeneProt's proteomics technology to its in-house drug-discovery efforts. Lion will sweeten the deal by making a $7.5 million equity investment in GeneProt in exchange for 681,818 Series B preferred stock.

The goal of the collaboration is for GeneProt to use Lion's software to bolster its own "internal information platform," which it will then market bundled with Lion's software to customers that both firms share. This part of the bargain is left up to "Lion's discretion," the companies said.

Financial details of the deal were not disclosed.
This deal "yields the critical linkage between genomics and proteomics for life sciences companies, enabling them to consolidate intellectual property across multiple disciplines ... and analyze and apply it directly to the discovery of new ... proteins, protein drug targets, and protein biomarkers," Cedric Loiret-Bernal, GeneProt's CEO, said in a statement. 

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