Oct. 18 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG - news) has granted a non-exclusive sublicense to Bristol- Myers Squibb Company (NYSE: BMY - news) for the use of certain aspects of Lexicon's positive-negative selection and isogenic DNA technologies. Bristol-Myers Squibb will use the technology for the generation of knockout mice for internal research purposes to gain predictive information about gene products that are valid drug targets or therapeutic proteins for drug development. Financial terms were not disclosed.
``We are pleased that Bristol-Myers Squibb has selected Lexicon's technologies for gene targeting and has joined our growing list of sublicensees,'' stated Randall B. Riggs, Senior Vice President of Business Development at Lexicon Genetics. ``The use of our technologies will further advance Bristol-Myers Squibb's internal drug discovery and therapeutic validation efforts.''
``We believe that Lexicon's gene targeting technologies will play a significant role in advancing our drug discovery and target validation efforts,'' said Elliott Sigal, M.D., Ph.D., Senior Vice President, Early Discovery and Applied Technology.
Lexicon's positive-negative selection and isogenic DNA technologies are efficient methods of targeting genes for the generation of knockout mice, which are used to determine the role of specific genes in mammalian disease and physiology. Lexicon holds certain exclusive rights under the patents that cover positive-negative selection technology (U.S. patents 5,464,764, 5,487,992, 5,627,059 and 5,631,153) and isogenic DNA technology (U.S. patent 5,789,215). |
