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German biotech company Lion Bioscience AG said Tuesday it has agreed to acquire NetGenics Inc., a privately held Cleveland drug researcher for 1.12 million shares of stock worth $17.5 million. The shares of Heidelberg-based Lion Biosciences will be subject to a lockup period of 180 days after the close of the transaction, expected by April. Lion Bioscience is seeking to add NetGenics' Discovery Center research product to its portfolio. Founded in 1996, Cleveland-based NetGenics has raised a total of $38.7 million in funding from Edgewater Private Equity, Oxford Bioscience Partners, Venrock Associates, International Biotechnology Trust plc, Incyte Pharmaceuticals, Crystal Internet Ventures Fund, Casdin Life Sciences Partners, Orbimed Advisors llc and WPG-Farber Present Fund LP. Lion Bioscience received financial advice from Deutsche Bank AG and legal counsel from McDermott Emery in the transaction. NetGenics tapped Cleveland-based Jones, Day, Reavis & Pogue for legal counsel.-- Joshua Jaffe www.TheDeal.com