LION bioscience and GeneProt form strategic marketing collaboration
According to the partnering companies, they will jointly market an integrated offering designed to accelerate the drug discovery and development process.
By on Mar 15, 2002According to the partnering companies, they will jointly market an integrated offering designed to accelerate the drug discovery and development process.
Under the terms of the agreements, GeneProt will license LION's integration platform consisting of SRS and DiscoveryCenter software and selected LION scientific applications (piSCOUT, pathSCOUT) and will purchase related services from LION for up to $4.95 million. Together with LION, GeneProt revealed it will use these modules and services to enhance its internal information management platform.
Furthermore, GeneProt will make its own data and offering, together with the LION information platform available to their joint customers at LION's discretion.
In return, LION will enhance its integration platform by adding GeneProt's cutting edge proteomics functionality. The two companies also will co-market their joint solutions in the proteomics area to enable their customers to speed their discovery process by integrating their data across different disciplines and analyzing them.
As part of the agreement, LION will make a strategic equity investment in GeneProt valued at approximately $7.5 million. In return LION will receive 681,818 shares of Series B Preferred Stock of GeneProt for this investment. In accordance with LION's corporate policy, LION also will make equity investments in business partners that add strategically valuable expertise to LION's integrated IT solutions accompanying the entire R&D chain and that offer significant upside potential for the future.
"Collaborating with GeneProt enables us to enhance our interdisciplinary IT solutions for the life sciences by including proteomics data and functionality from one of the strongest companies in the field," said LION Chief Executive Officer, Dr. Friedrich von Bohlen. Because the interest in proteomics for modern research is growing rapidly, this alliance will be of high interest and value for the life science industry. It is important to build and offer an expert information management solution to our clients and partners that includes and links to the leading products along the entire research and development value chain, enabling them to improve their data and information integration and management over the entire R&D process. The alliance with GeneProt enhances our offering as leading integration partner for the industry."
"The partnership between LION and GeneProt yields the critical linkage between genomics and proteomics for life sciences companies, enabling them to consolidate intellectual property across multiple disciplines on a global scale and analyze and apply it directly to the discovery of new, high-potential therapeutic proteins, protein drug targets and protein biomarkers," said Cedric Loiret-Bernal, GeneProt's CEO. "Our expanded offering of products and services allows us to deliver even greater value to our customers through further optimization of their resources and our own.