Wednesday April 18, 7:30 pm Eastern Time
Press Release
SOURCE: Lexicon Genetics Incorporated
Lexicon Genetics Announces Major Scale-Up of Gene Knockout Program
In Vivo Functional Analysis of 5,000 Genes Over Five Years to Discover New Disease Targets
THE WOODLANDS, Texas, April 18 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG - news) is
announcing at its investor/analyst conference today a major scale-up of its gene knockout and in vivo functional analysis
programs to determine the function of 5,000 genes over five years for the discovery of new disease targets. Lexicon is focusing
its large-scale gene function discovery process on those proteins encoded by pharmaceutically valuable gene families. These
include genes that encode medically important proteins such as receptors, ion channels, key enzymes, and secreted proteins.
``Lexicon is amassing the world's largest gene knockout infrastructure, and today we are revealing the magnitude of our
capabilities,'' said Arthur T. Sands, M.D., Ph.D., President and Chief Executive Officer of Lexicon. ``It is believed that the
human genome encodes as many as 5,000 novel drug targets. By contrast, the entire pharmaceutical industry today operates on
fewer than 500 targets. With the completion of our genome discovery pharmaceutical center at the end of 2001, we are scaling
up our gene knockout process to determine the in vivo functions of 5,000 of the most promising genes for pharmaceutical
discovery over five years.''
Lexicon's five-year program is supported by the world's largest gene knockout infrastructure:
Lexicon's patented gene targeting technology rapidly generates knockout mice with alterations in selected genes. The
Company believes that its experience and scale of production using gene targeting technology will continue to provide
substantial advantages in efficiency and speed relative to others trying to discover the functions of genes. Gene targeting is
expected to account for approximately one-half of the 5,000 genes in Lexicon's five-year program.
-- Lexicon's OmniBank® library now contains more than 130,000 frozen
mouse embryonic stem cell (ES) clones identified by DNA sequence in
a relational database. Any one of these clones could unlock a
future drug discovery, and the tremendous statistical power that
comes from OmniBank's dataset fuels Lexicon's rapid target
validation and provides the Company with a continuous drug discovery
pipeline. Lexicon expects that OmniBank, which currently contains
clones for an estimated 40 percent of all genes in the mammalian
genome, will account for the remaining half of the 5,000 genes in
its five-year program.
-- Lexicon has its own proprietary human and mouse gene sequences,
discovered using the Company's gene trapping technology. Lexicon
has filed patent applications covering more than 50,000 human gene
sequences and more than 35,000 knockout mouse clones and
corresponding mouse gene sequences.
-- Lexicon's gene knockout infrastructure is fortified by its
intellectual property estate. Lexicon owns four U.S. patents
covering its gene trapping technology and has certain exclusive
rights under five U.S. patents covering its gene targeting
technology.
-- Lexicon's genome pharmaceutical discovery center has been
specifically designed to accelerate large-scale gene function
discovery. By the end of this year, Lexicon will have tripled the
size of its physical plant to approximately 300,000 square feet.
This expansion has strategic implications for Lexicon's business
success, because it will increase the rate at which the Company
discovers which genes in the human genome have high value for drug
discovery.
-- Lexicon has built an elite team of specialists in cancer,
cardiovascular disease, immune disorders, neurological disease,
diabetes and obesity to accelerate the rate of discovery from
biology to drugs.
-- Lexicon's cash position of approximately $202 million at the close
of 2000 gives the company momentum to execute its five-year business
strategy, regardless of financial market conditions.
``As the leader in industrializing gene knockout technology, Lexicon has set a new standard for in vivo target validation and
therapeutic protein discovery,'' Dr Sands said. ``We believe our large-scale gene knockout program will make Lexicon the first
to discover the medical applications of the largest number of new pharmaceutical targets for drug discovery in the post- genome
era.''
Lexicon Genetics Incorporated is a drug discovery company of the post- genome era, using gene knockout technology to
define the functions of genes for the discovery of pharmaceutical products. Lexicon is using this technology to fuel drug
discovery programs in cancer, cardiovascular disease, immune disorders, neurological disease, diabetes and obesity. Lexicon
has established drug discovery alliances and functional genomics collaborations with leading pharmaceutical and biotechnology
companies, research institutes and academic institutions throughout the world to commercialize its technology and further
develop its discoveries. Additional information about the Company is available through Lexicon's corporate website,
www.lexicon-genetics.com.
This press release contains ``forward-looking statements,'' including statements about 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. These forward-looking statements are based on management's current assumptions and
expectations and involve risks, uncertainties and other important factors, specifically including those relating to Lexicon's ability
to achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, that 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 ``Factors Affecting Forward-Looking Statements''
and ``Business - Risk Factors'' in Lexicon's annual report on Form 10-K for the year ended December 31, 2000, 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.
SOURCE: Lexicon Genetics Incorporated |
