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Tripos Shares Surge 16 Percent on $5M Wyeth Deal

NEW YORK, Jan. 11 (GenomeWeb News) - Shares in Tripos were up 15.95 percent, or .53, at $3.86 in mid-afternoon trading today after the company said it has penned an informatics deal with Wyeth Pharmaceuticals worth $5 million.

 

As GenomeWeb News reported this morning, Wyeth will use Tripos' Smart-Idea technology to form the basis of a new informatics platform called Scientific Workbench. The new informatics platform should enable scientists throughout Wyeth's worldwide discovery operations to share and analyze data.

 

Under the terms of the agreement Tripos is expected to receive $5 million in software license and professional service fees, but certain payments will be contingent upon the achievement of project milestones, the company said.

 

Tripos developed its Smart-Idea technology through a  previous collaboration with Bristol-Myers Squibb, which now uses it in its North American research facilities. Wyeth's system is anticipated to be ready in the fall.

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