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Lion Sells Its Bioinformatics Business to BioWisdom for $5M

NEW YORK, April 4 (GenomeWeb News) - BioWisdom Limited has acquired Lion Bioscience's bioinformatics business for approximately 4 million ($4.9 million), BioWisdom said today.


Under the terms of the agreement, BioWisdom, based in Cambridge, UK, will purchase the shares of Heidelberg, Germany-based Lion Bioscience and its subsidiary Lion Bioscience Asset Vehicle.


Lion markets the SRS software suit for data integration, for which it has approximately 300 commercial and academic customers. BioWisdom creates "intelligence networks" used to support decision making in all areas of drug discovery and development, and will integrate the SRS platform into its current products.


BioWisdom said that the SRS product development will remain in its Cambridge facilities, while Lion's US-based sales and support staff will remain in Boston.


Lion first announced the planned sale of its bioinformatics business in April 2005.

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