Swiss company Geneva Proteomics was rumored to be negotiating a joint venture with Celera, but now that it has secured $40 million in financing, the company’s officers figure that instead they’ll compete.

GeneProt’s founders, who have ties with Geneva Bioinformatics (GeneBio) and the Swiss Institute of Bioinformatics, a leading developer of proteomics software, say they will build the “world’s first dedicated proteomics factory.”