BioWisdom buys LION's bioinformatics business for Eur4m
BioWisdom Ltd, a specialist in the development and application of Intelligence Networks for the pharmaceutical industry, said late Tuesday that it has acquired the bioinformatics business of LION Bioscience AG for EUR4m.
The company said the bioinformatics business is based around the SRS suite of data integration products which LION has established as the industry standard, with a base of over 300 commercial and academic customers. BioWisdom will continue to support and develop SRS.
BioWisdom CEO Gordon Smith Baxter (pictured) said the acquisition "is an important step in our commercial strategy aimed at creating an international healthcare intelligence brand and reflects our ambition to be the world's leader in healthcare intelligence."
"We believe that the combination of the SRS product infrastructure with BioWisdom's expertise in the application of Intelligence Networks will provide a powerful new capability for customers, spanning the areas of drug discovery through to drug development and the regulatory process ", he said.
SRS is a scalable and robust data integration platform that provides fast access to diverse life sciences data - genetic, protein, cellular, molecular and clinical - from public and proprietary sources, regardless of data format. It is the market leader for bioinformatics data integration, providing global bioinformatics platforms for many of the world's largest pharmaceutical and biotech companies.
BioWisdom, a private company whose main investors include Merlin BioSciences, MB Venture Capital, Alice Ventures, Finsbury Life Sciences and NIF, said SRS product development, support and sales will remain in Cambridge and Lion's US-based sales and support staff will continue to be located in the Boston area.
LION biosciences sold the business as part of a corporate restructuring.
4th April 2006
