Axaron/LION to form new CNS drugmaker
Axaron Bioscience AG and fellow Germany-based LION bioscience AG will combine know-how and funding to form a new pharmaceutical company specializing in drugs for central nervous system diseases.
Genomics-based drug discovery firm LION will lead the investment by contributing $29.4 million. The new firm, whose name will be decided at LION's annual general meeting in the fall, will be headed by Axaron's Alfred Bach and LION's Peter Willinger.
German tycoon Dietmar Hopp, co-founder of German software firm SAP, has committed $26.9 million to the venture, stating that he sees "great potential in the area of life sciences and in its professional business development."
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