FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2008
Estimated average burden
hours per response... 0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Ulys, LLC 		2. Issuer Name and Ticker or Trading Symbol

LEXICON PHARMACEUTICALS, INC./DE [ LXRX ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

750 LEXINGTON AVENUE, 30TH FLOOR 		3. Date of Earliest Transaction (MM/DD/YYYY)

4/30/2008
(Street)

NEW YORK, NY 10022
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   4/30/2008     P (1)    669052   A $2.00   51494038   I   See Footnote   (2)
Common Stock                  3891108   I   See Footnote   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  On April 30, 2008, Invus, L.P. agreed to purchase 669,052 shares of common stock of Lexicon Pharmaceuticals, Inc. (the "Issuer"). The purchase is expected to close on May 5, 2008.
( 2)  The reported shares are owned directly by Invus, L.P. Invus Advisors, L.L.C. is the general partener of Invus, L.P. Ulys, L.L.C. is the managing member of Invus Advisors, L.L.C. Raymond Debbane is the sole member of Ulys, L.L.C. Accordingly, each of Invus Advisors, L.L.C. Ulys, L.L.C. and Raymond Debbane may be deemed to be indirect b eneficial owners of the reported securities. Each of Invus Advisors, L.L.C. Ulys, L.L.C. and Raymond Debbane disclaims beneficial ownership of such securities, except to the extent of its or his pecuniary interest therein.
( 3)  The reported shares are owned directly by Invus Public Equities, L.P. Invus Public Equities Advisors, L.L.C is the general partner of Invus Public Equities, L.P. Ulys, L.L.C. is the managing member of Invus Public Equities, L.L.C. Raymond Debbane is the sole member of Ulys, L.L.C. Accordingly, each of Invus Public Equities Advisors, L.L.C, Ulys, L.L.C. and Raymond Debbane may be deemend to be indirect beneficial owners of the reported shares. Each of Invus Public Equities Advisors, L.L.C, Ulys, L.L.C. and Raymond Debbance disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Ulys, LLC
750 LEXINGTON AVENUE
30TH FLOOR
NEW YORK, NY 10022
X

Invus, L.P.
750 LEXINGTON AVENUE, 30TH FLOOR
NEW YORK, NY 10022
X

Invus Advisors, L.L.C.
750 LEXINGTON AVENUE, 30TH FLOOR
NEW YORK, NY 10022
X

DEBBANE RAYMOND
C/O ULYS, L.L.C.
750 LEXINGTON AVENUE, 30TH FLOOR
NEW YORK, NY 10022
X


Signatures
/s/ Raymond Debbane: ULYS, L.L.C. 5/2/2008
** Signature of Reporting Person Date

/s/ Raymond Debbane: INVUS, L.P., By: Invus Advisors, L.L.C., its general partner 5/2/2008
** Signature of Reporting Person Date

/s/ Raymond Debbane: INVUS ADVISORS, L.L.C. 5/2/2008
** Signature of Reporting Person Date

/s/ Raymond Debbane 5/2/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Lexicon Pharmaceuticals (NASDAQ:LXRX)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Lexicon Pharmaceuticals Charts.
Lexicon Pharmaceuticals (NASDAQ:LXRX)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Lexicon Pharmaceuticals Charts.