I'm sure this PR must have sounded better in the original German ?
LION bioscience AG Strengthens the Prerequisite for Strong Revenue Growth (sic)
HEIDELBERG, Germany and CAMBRIDGE, Mass.--(BW HealthWire)--Feb. 15, 2002--LION bioscience AG (Neuer Markt: LIO, WKN: 504 350, Nasdaq: LEON) announced today that it continues to streamline its global organization, operations and headcount, taking further advantage of the potential and synergies that the acquisitions of Trega Biosciences and NetGenics are offering.
Software development activities will be optimally allocated between the sites, ensuring the most effective use of talents, capabilities and resources. The laboratories in both Heidelberg and San Diego will be dedicated exclusively to information technology (IT) driven drug discovery in the area of nuclear receptors. Both sites are demonstrating the application of LION's IT solutions in modern research, while generating proprietary knowledge as the basis for future revenue. The global business organization, which includes a strong professional services group, will be further enlarged and strengthened to focus in particular on the delivery of new i-biology® alliances. As a consequence of these activities, LION will adjust its total number of employees to roughly 500 on a world-wide basis by April 2002.
All these measures are supporting LION's ambitious growth target and stringent cost containment at the same time. LION's objective is to break even in fiscal year 2003/04.... |
