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 http://www.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.
All statements in this press release that are not historical are
forward-looking statements within the meaning of the U.S. securities laws.
Such statements are based on current expectations that are subject to risks
and uncertainties. Actual results may vary materially from those projected
because of factors such as uncertainties relating to technologies, product
development, or manufacturing, market acceptance, cost or pricing of LION's
products, dependence on collaborations and partners, regulatory approvals,
competition, intellectual property of others, or patent protection and
litigation. These and other risk factors are discussed in LION's Registration
Statement on Form F-1 declared effective by the Securities and Exchange
Commission (SEC) on August 9, 2000 and, assuming LION's merger with Trega
becomes effective, in LION's Registration Statement on Form F-4 declared
effective by the SEC on February 9, 2001. LION expressly disclaims any
obligation or undertaking to release publicly any updates, revisions or
corrections to any forward-looking statements or historical information
contained herein. LION bioscience(R), bioSCOUT(R), genomeSCOUT(TM), SRS
everEST(TM) and i-biology(R) are either registered trademarks of LION
bioscience AG in the United States and/or other countries, or LION bioscience
AG has pending applications for these trademarks in the United States and/or
other countries. The names of actual companies and products mentioned herein
may be the trademark of the respective owners.
SOURCE Trega Biosciences, Inc.
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Related links:
http://www.trega.com
Company News On-Call:
http://www.prnewswire.com/comp/374050.html or fax,
800-758-5804, ext. 374050
CONTACT:
Gerard A. Wills, Chief Financial Officer,
858-410-6695, or Cynthia Reindal, Associate, Corporate
Communications & Investor Relations, 858-410-6601, both of Trega
Biosciences Inc.; or Dr. Andrea Kreisselmeier, Director Corporate
Communications, Marketing & Communications, of LION bioscience
AG, +49 (0)6221-4038 265,
andrea.kreisselmeier@lionbioscience.com; or Matthew J. Scampoli
of Noonan/Russo, 212-696-4455, ext. 243,
m.scampoli@noonanrusso.com, for LION bioscience AG
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