Structural Bioinformatics and GeneFormatics announced last week they had signed a merger agreement, with most of the new management team coming from SBI, and SBI shareholders gaining a majority interest in the new company.

Executives from the two San Diego-based protein structure drug discovery companies said they are merging to create an as-yet unnamed company that can provide soup-to-nuts structural proteomics services, a fatter drug lead pipeline, and enough cash to last through the present funding drought.