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Lion s Revenues Up 161 Percent, R&D Costs up 139 Percent

NEW YORK, Feb 7 – Lion bioscience said Wednesday its fiscal third quarter 2001 revenues more than doubled to 7.7 million euros ($7.1 million), compared with 2.9 million euros in the year ago period, as research and development as well as licensing fees increased.

Revenues from research and development fees shot up 161 percent to 4.7 million euros, while licensing fees increased 38 percent to 2.9 million euros.

At the same time, however, a 139 percent increase in R&D costs contributed to higher losses from operations. from 3.0 to 4.3 milion Euros.

During the quarter, Lion formed alliances with Celera and Bayer, and acquired Trega Biosciences, based in San Diego.

Celera now uses LION's SRS technology as the base technology for its Celera Discovery System. With Bayer, Lion expanded into the field of pharmacophore informatics, and the merger with Trega combined the two companies’ drug discovery and data analysis capabilities.

Net losses for the third quarter FY 2001 dropped to 2.2 from 3.0 million Euros in the year-ago quarter.

In January, Lion released ArrayScout 2.0, an updated version of it gene expression data analysis system.

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