Trega Biosciences Announces Stockholder Approval Of Merger With LION bioscience
SAN DIEGO, March 12 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA) today announced that its stockholders have approved its merger with LION bioscience AG (Nasdaq: LEON; Neuer Markt: LIO). The acquisition, which was first announced on December 27, 2000, is expected to close this week. Under the terms of the merger agreement between Trega and LION, LION will acquire all of the outstanding stock of Trega in exchange for LION American Depositary Shares (ADSs).
Trega Biosciences, Inc. is a premier provider of products that accelerate and improve drug discovery through its iDiscovery(TM) technologies that link biology and chemistry with information technologies. Trega's iDEA(TM) family of information-based models simulate, in silico, how drug candidates will be processed in the body, thereby enabling selection of those with optimal characteristics for clinical development. Together with its iDEA(TM) products, Trega's ChemFolio(R) libraries of information-enhanced small molecules are designed to facilitate the identification and optimization of drug candidates. For additional information on Trega, please visit our web site at trega.com.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including whether the proposed merger will be completed or successful, whether regulatory approvals can be obtained for products discovered and developed, if any, the impact of competitive products and pricing, whether any other corporate collaborations or alliances will be agreed to, expanded or successful, and other risks detailed from time to time in Trega's Securities and Exchange Commission filings. These forward-looking statements represent Trega's judgment as of the date of this release. Actual results may differ materially from those projected. Trega disclaims, however, any intent or obligation to update these forward-looking statements.
LION bioscience AG (http://www.lionbioscience.com) is a pioneer in the field of enterprise-wide R&D data analysis (biology - chemistry - preclinical) and integrated information management systems and solutions for the life sciences and, ultimately, the healthcare industry. It employs these solutions also for its own drug discovery research. i-biology(R) is LION's corporate-wide, cross-discipline research IT-management solution which enables research organizations to more effectively manage and use the knowledge that is currently distributed across their organizations. Founded in 1997, the company today has more than 300 employees, with headquarters in Heidelberg, Germany, and subsidiaries in Cambridge, UK and Cambridge, MA, USA. To date, LION AG has established numerous partnerships with leading Life Science companies, including Aventis, Bayer, Boehringer Ingelheim, Celera, DuPont, Glaxo Wellcome, Janssen, Merck Inc., Nestle, Novartis, Paradigm Genetics, Pharmacia & Upjohn, SmithKline Beecham, Sumitomo Pharmaceuticals and Tripos. |
