Although IBM had scientists working in the field, "it was pure research," said Augen, who at the time was director of emerging technologies. There was a considerable gap in translating that research into sales of equipment and services to the pharmaceutical and biotech industries.
So Augen and Kovac, an IBM research vice president, put together an aggressive plan to get to $100 million in revenue in the first year and turn cash-flow positive by the third year. Those goals were met, Augen said, as they grew revenue by $500 million in just two years."
“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.”BIOINFORMATICS IN THE 21st CENTURY
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