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4 April, 2006 - 15:51 By Staff Reporter

BioWisdom takes pride in new acquisition

BioWisdom has acquired the bioinformatics division of troubled German Life Sciences company, Lion bioscience AG for a consideration of up to £2.8m.

Lion Bioscience, which is listed on the Frankfurt Stock Exchange, is in the throes of a radical reorganisation and has been seeking a buyer for the business for a number of months.

Cambridge-based BioWisdom, which develops software aimed at assisting decision making in drug discovery, drug development and healthcare, has pledged to retain Lion’s operations Cambridge UK and Cambridge US.

It is not yet clear whether there will be any further downsizing at Lion’s former base in Cambridge, but the operation will remain at St Andrews House.

LION’s R&D software has established a strong base of over 300 commercial and academic customers. BioWisdom said it would continue to support and develop SRS and will be contacting its customers to confirm its commitment to enhancing and building the business.

"The acquisition of LION’s bioinformatics business 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." said Gordon Smith Baxter, CEO of BioWisdom.

"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 ".

"In deciding to sell our bioinformatics business, we have been seeking a partner who can offer a robust and exciting future for the SRS product suite and its customers. In BioWisdom we found a company that has extensive experience of delivering healthcare intelligence , using a new generation of software tools, to answer business-critical questions in many different areas of a pharmaceutical company. " said Peter Willinger, CFO of LION.

The future of Lion Bioscience AG is still in the balance, with a future as an investment holding one of the options being weighed up by the management board.




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