Lexicon Pharmaceuticals Enters Data Collaboration With AC Bioscience
December 16 2020 - 4:05PM
Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), announced today that
it has entered a collaboration enabling the use by AC Bioscience
LTD of preclinical and clinical data for LX2931 without granting
any right or license under any of Lexicon’s patent rights for the
compound. LX2931 is a small molecule sphingosine-1-phosphate (S1P)
lyase inhibitor that is currently not in active development at
Lexicon.
“In line with our realignment around the rapid
development of the LX9211 program, we continue to evaluate our
pipeline and determine the most effective way to advance our broad
library of compounds and targets,” said Praveen Tyle, Ph.D.,
executive vice president of research and development. “We are
pleased to collaborate with AC Bioscience to accelerate their
efforts around S1P and look forward to learning additional
information about this potentially interesting pathway.”
Under the terms of the agreement, Lexicon will
receive an upfront payment and is eligible to receive milestone
payments totaling up to $5.3 million in the aggregate.
About Lexicon
Pharmaceuticals
Lexicon is a biopharmaceutical company with a
mission of pioneering medicines that transform patients’ lives.
Through its Genome5000™ program, Lexicon scientists studied the
role and function of nearly 5,000 genes and identified more than
100 protein targets with significant therapeutic potential in a
range of diseases. Through the precise targeting of these proteins,
Lexicon is pioneering the discovery and development of innovative
medicines to safely and effectively treat disease. Lexicon advanced
one of these medicines to market and has a pipeline of promising
drug candidates in discovery and clinical and preclinical
development in neuropathic pain, heart failure, diabetes and
metabolism and other indications. For additional information,
please visit www.lexpharma.com.
Safe Harbor Statement
This press release contains “forward-looking
statements,” including statements relating to Lexicon’s financial
position, long-term outlook on its business and the clinical
development and therapeutic and commercial potential of its drug
candidates. In addition, this press release also contains forward
looking statements relating to Lexicon’s growth and future
operating results, discovery and development of products, strategic
alliances and intellectual property, as well as other matters that
are not historical facts or information. All forward-looking
statements are based on management’s current assumptions and
expectations and involve risks, uncertainties and other important
factors, specifically including Lexicon’s ability to meet its
capital requirements, successfully conduct preclinical and clinical
development and obtain necessary regulatory approvals of LX9211,
sotagliflozin and its other potential drug candidates on its
anticipated timelines, achieve its operational objectives, obtain
patent protection for its discoveries and establish strategic
alliances, as well as additional factors relating to manufacturing,
intellectual property rights, and the therapeutic or commercial
value of its drug candidates. Any of these risks, uncertainties and
other factors may cause Lexicon’s actual results to be materially
different from any future results expressed or implied by such
forward-looking statements. Information identifying such important
factors is contained under “Risk Factors” in Lexicon’s annual
report on Form 10-K for the year ended December 31, 2019, as filed
with the Securities and Exchange Commission. Lexicon undertakes no
obligation to update or revise any such forward-looking statements,
whether as a result of new information, future events or
otherwise.
For Inquiries:
Chas SchultzExecutive Director, Corporate
Communications and Investor RelationsLexicon Pharmaceuticals(281)
863-3421cschultz@lexpharma.com
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