LION Bioscience AG and Bayer AG entered in a $100 million, five-year partnership to create a research subsidiary in Cambridge, Mass., which will increase the speed and efficiency of Bayer's gene-discover and drug-discovery efforts. Bayer, AG, based in Frankfurt, Germany, will make an up-front equity investment in LION, which represents about 10 percent of the company. Durinq the five years, Bayer will fund all research and development efforts at LION's new subsidiary, LOPM Bioscience Research Inc (LBRI). In addition, Bayer will pay …
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