Lexicon Genetics Sublicenses Positive-Negative Selection and Isogenic DNA Technologies to Eli Lilly and
Company
THE WOODLANDS, Texas, Nov. 16 /PRNewswire/ -- Lexicon Genetics
Incorporated (Nasdaq: LEXG) has granted a non-exclusive sublicense to Eli
Lilly and Company (NYSE: LLY) for the use of certain aspects of Lexicon's
positive-negative selection and isogenic DNA technologies. Lilly will use the
technologies in its internal drug discovery and target validation programs.
Financial terms were not disclosed.
"We are pleased that Lilly has joined our growing list of sublicensees for
Lexicon's powerful gene-targeting technology," stated Randall B. Riggs, Senior
Vice President of Business Development at Lexicon Genetics. "We have eleven
organizations who have accessed our technology; it has become the gold
standard for target validation."
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).
Lexicon Genetics Incorporated is a leader in defining the functions of
genes for drug discovery using large-scale knockout mouse technology.
Complementary to its gene-specific custom knockout technology, Lexicon has
invented high-throughput genome-wide gene trapping technology to discover
thousands of genes and expand its OmniBank(R) library of tens of thousands of
knockout mouse clones. The Company uses an integrated platform of functional
genomics technologies to accelerate large-scale analysis of mammalian gene
function for drug discovery. Lexicon's Internet exchange, 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 collaborations with leading
pharmaceutical and academic institutions worldwide. Additional Company
information is available at 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
jwolford@lexgen.com
Doug MacDougall
Libby Wright
Feinstein Kean Healthcare
617/577-8110
dmacdougall@fkhealth.com
SOURCE Lexicon Genetics Incorporated
Web Site: lexicon-genetics.com |
