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TheDeal.Com
Lion Bioscience licks its wounds
"Troubled German biotech pioneer Lion Bioscience AG is hoping that one divestiture can clear the mess it's made of an aggressive acquisition and venture capital program and usher in profitability."
"As part of its turnaround strategy following the plunge of its shares, Lion is in advanced talks with potential buyers of its drug discovery unit, which accounts for 50% of its costs but none of its revenue."
"Lion Bioscience today reported a decrease in first-quarter revenue on top of expanding net losses."
"Net loss for the quarter ballooned to Û19.2 million, or Û.97 per share, from Û11.2 million, or Û.60 per share, one year ago. The company attributed increased losses to costs integrating NetGenics, acquired in January, as well as a year-over-year drop in revenue."
[ rhetoric ]
“Bioinformatics will be at the core of biology in the 21st century. In fields ranging from structural biology to genomics to biomedical imaging, ready access to data and analytical tools are fundamentally changing the way investigators in the life sciences conduct research and approach problems. Complex, computationally intensive biological problems are now being addressed and promise to significantly advance our understanding of biology and medicine. No biological discipline will be unaffected by these technological breakthroughs.”
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