NEW YORK, Nov 15 - Paradigm Genetics and Lion Bioscience said Wednesday that they have entered a five-year deal to jointly develop and market a new plant and fungal metabolic profiling database.
The two companies, which began working together in January, are also planning to develop new bioinformatics software that can be used for target identification and validation in applications ranging from human healthcare to crop production and industry.
The companies will share revenues from the sale of the jointly developed database and bioinformatics tools.
The deal represents Paradigm’s entry into the human healthcare market as well as Lion’s expansion into the agriculture sector.
" We believe that the metabolic profiling database will be a valuable tool in the pursuit of novel drugs,” John Ryals, Paradigm’s CEO, said in a statement. “Approximately 50% of new drug leads are derived from natural products from plants and fungi."
Friedrich von Bohlen, Lion’s CEO, said that through the alliance the companies would be able to offer proprietary data sets as well as data integration and analysis tools for agro-scientists.
Lion recently announced a deal with food giant Nestle, indicating that the company would seek to expand its presence beyond the field of animal genomics.
The new plant and fungi database will offer information for target identification and validation using Paradigm's metabolic profiling database. Lion will supply its SRS data integration technology, which will be customized to manage DNA sequence data and metabolite profiling data.