Follow the Money: Lexicon Pharmaceuticals, Inc.

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Follow the Money highlights a newly funded bio/pharmaceutical company. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

Lexicon Pharmaceuticals, Inc. is a U.S. public pharmaceutical company that develops treatments using a gene knockout technology to identify human gene targets in metabolism, cardiology, immunology, gastroenterology, and ophthalmology. As reported in the December 4, 2014 issue of the PharmSource Lead Sheet, Lexicon raised $149.9 million in a private equity placement.

Corporate Highlights

  • Lexicon was incorporated in Delaware in July 1995 and began operations in September 1995.
  • Corporate Headquarters: The Woodlands, Texas – approximately 260,000 square feet of office and laboratory space.
  • Facility: Princeton, New Jersey – approximately 42,000 square feet of office and laboratory space.
  • As of February 27, 2014, Lexicon had 149 employees.

Sourcing Opportunities

  • Lexicon plans to use the proceeds for clinical development of its drug candidates, other nonclinical R&D, and general corporate purposes.
  • The company relies on CROs and other third party contractors to carry out drug development activities, including testing and clinical trials of drug candidates.
  • Lexicon does not have manufacturing capabilities and relies on third parties to produce materials for preclinical studies, clinical trials, and commercial sales.
  • Lexicon has no sales, marketing or distribution capabilities.

Business Relationships

  • In December 2002, Lexicon entered into an alliance with Genentech to discover therapeutic proteins and antibody targets.
  • December 2003, Lexicon entered into an alliance with Bristol-Myers Squibb (BMS) to discover, develop, and commercialize small molecule drugs in neuroscience. BMS will have the first option to develop and commercialize candidates resulting from the collaboration.
  • In July 2004, Lexicon entered into an alliance with Takeda to discover novel treatments for high blood pressure.1
  • In October 2014, Lexicon entered into a licensing agreement with Ipsen to commercialize telotristat etiprate outside the US, Canada, and Japan, for the treatment of carcinoid syndrome.2

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
LX2761 Diabetes Oral Preclinical TBA
LX7101 Glaucoma Topical Phase I TBA
LX1032
(Telotristat etiprate)
Ulcerative Colitis Oral Phase II TBA
LX1033 Irritable Bowel Syndrome (IBS-d) Oral Phase II TBA
LX2931 Rheumatoid Arthritis Oral Phase II TBA
LX4211 Type I Diabetes Tablet Phase II Plans to initiate a Phase III trial in early 2015.
LX4211 Type II Diabetes Tablet Phase II TBA
LX1032
(Telotristat etiprate)
Carcinoid Syndrome Oral Phase III Plans to complete enrollment in Phase III trial by the end of 2014.

 

Finances

(In $ thousands) 2013 2012
Revenues 2,222 1,089
R&D Expenditures 89,682 82,574
General & Administrative Expenditures 17,121 17,043
Total Operating Expenses 104,593 109,504
Capital Expenditures 1,721 492

1 Lexicon Pharmaceuticals, Inc. Annual Report, SEC.gov
2www.lexpharma.com

Contact Information

Lexicon Pharmaceuticals, Inc. Key Officers
8800 Technology Forest Place Lonnel Coats, President & CEO
The Woodlands, TX 77381, USA Jeffrey L. Wade, CFO & EVP
Phone: 281-863-3000 Pablo Lapuerta, MD, CMO & EVP, Safety & Pharmacovigilance
Fax: 281-863-8088 Alan J. Main, PhD, EVP, Pharmaceutical Research
Web: www.lexpharma.com Brian P. Zambrowicz, PhD, CSO & EVP

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Ryan is a Senior Research Analyst at PharmSource. He holds a BS degree in biology, with a minor in chemistry and a BA degree in Spanish, from the University of North Carolina at Chapel Hill. Prior to joining PharmSource, Ryan worked as a Research Technician in the Neuroscience Center of the UNC Chapel Hill School of Medicine, and has been a named author on research publications.

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