Lexicon Genetics Formalizes Entry Into Japanese Drug Discovery Market
- Lexicon Establishes Japanese Drug Discovery Research Network -
THE WOODLANDS, Texas, Aug. 23 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG - news) announced today that it has entered into an agreement with Oriental Yeast Co. (OYC) of Tokyo, Japan giving Lexicon entry into the Japanese drug discovery market. Lexicon and OYC will collaborate on the development of a unique web interface in the Japanese language that will allow researchers to access OmniBank®, the world's largest library of over 80,000 knockout mouse clones. Using the Internet, Japanese researchers will be able to obtain knockout mouse clones from Lexicon for functional genomics research.
``Collaborating with OYC ensures that our powerful drug discovery capabilities are readily available to the Japanese market,'' said Randall Riggs, Lexicon's Senior Vice President of Business Development. ``This formalizes a process for our establishment of drug discovery collaborations in Japan.''
Since 1968 OYC has been involved in the emerging biotechnology industry through its work in biochemicals for the medical diagnostics field. In 1987 OYC established, as a new division, a state-of-the-art Research Center called the Nagahama Institute for Biochemical Sciences. This division of OYC is engaged in research, development and production for useful compounds utilizing the latest biotechnologies, including genetic engineering. OYC has adapted genetic engineering and related research as its core technology and devotes its use for the advancement of human health and welfare.
``The Japanese government's recent decision to fund basic research has opened up a whole new era for drug discovery in Japan,'' said Mark Berman, President of Oriental Yeast International Inc., the United States subsidiary of OYC. ``Our collaboration with Lexicon provides easy and direct access for the Japanese researcher to the OmniBank library of knockout mouse clones, significantly simplifying their research efforts.''
Lexicon Genetics Incorporated is a leader in defining the functions of genes for drug discovery using large-scale knockout mouse technology. Lexicon has invented high-throughput gene trapping technology to discover thousands of genes and expand its OmniBank® library of tens of thousands of knockout mouse clones. The Company uses an integrated platform of functional genomic technologies to accelerate large-scale analysis of mammalian gene function for drug discovery. Lexicon's Internet exchange, www.lexgen.com, enables researchers worldwide to access the OmniBank library and form collaborations with Lexicon to discover pharmaceutical products based on genes and knowledge of their functions. Lexicon has established drug discovery collaborations with Abgenix, Inc. and Arena Pharmaceuticals, and functional genomics and OmniBank alliances with many pharmaceutical and biotechnology companies including American Home Products, The R.W. Johnson Pharmaceutical Research Institute of Johnson & Johnson, Pharmacia Corp., Boehringer Ingelheim Pharmaceuticals, N.V. Organon, DuPont Pharmaceuticals and Millennium Pharmaceuticals, Inc. as well as leading academic institutions worldwide. Additional Company information is available at www.lexicon-genetics.com.
Statements in this press release that are not strictly historical are ``forward-looking'' statements as defined in the Private Securities Litigation Reform Act of 1995. The actual results may differ materially from those projected in the forward-looking statements due to the risks and uncertainties that exist in Lexicon's filings with the Securities and Exchange Commission. The Company disclaims any obligations to update the statements in this press release.
Lexicon Genetics Contacts:
Jennifer Wolford
Manager, Corporate Communications
Lexicon Genetics Incorporated
281/364-0100
Doug MacDougall
Libby Wright
Feinstein Kean Healthcare
617/577-8110
SOURCE: Lexicon Genetics Incorporated |
