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Lexicon Genetics and Deltagen Announce Settlement of Patent Infringement Litigation
THE WOODLANDS, Texas and REDWOOD CITY, Calif., Sept. 20 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG - news) and Deltagen, Inc. (Nasdaq: DGEN - news) announced today the settlement of Lexicon's patent infringement litigation against Deltagen. Under the terms of the settlement, Deltagen will obtain a commercial license under the patents covering Lexicon's gene targeting technologies, Lexicon will obtain a subscription to Deltagen's DeltaBase(TM) database of mammalian genes and their in vivo functions, and all of the claims and counterclaims in the litigation will be dismissed with prejudice.
Lexicon's subscription to DeltaBase will include non-exclusive, perpetual licenses to the 250 drug targets currently represented in DeltaBase and the 1,000 additional drug targets that are to be added to DeltaBase over the next four years. Although specific financial details of the settlement were not disclosed, Lexicon will have the opportunity to receive payments for Deltagen's fee-for-service generation of knockout mice, and Deltagen will have the opportunity to receive milestone and royalty payments for potential therapeutic and diagnostic products developed from drug targets in DeltaBase. Neither party will pay subscription or license fees.
``This settlement furthers our strategy of focusing Lexicon's efforts on drug discovery using in vivo validated targets,'' said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Lexicon. ``Lexicon's drug discovery programs in the therapeutic areas of cardiology, neurology, endocrinology, immunology and oncology are driven by large-scale, in vivo validation at the earliest stages in the drug discovery process, a strategy that we believe will deliver substantially greater productivity in the discovery of new drugs from the human genome. We share with Deltagen the view that knockout-validated drug targets are critical for developing the next generation therapeutics of the post-genome era.''
``This settlement is an illustration of the evolution of both Deltagen and Lexicon toward our own drug discovery programs. In reaching agreement with Lexicon, we can now fully concentrate our research efforts to discover and market novel therapeutic proteins and continue our role as a leading provider of validated small molecule targets for drug discovery. Since the strengths of Lexicon and Deltagen greatly complement each other, our decision to resolve the current legal issues will enable both companies to leverage gene knockout technology for pharmaceutical advancement,'' said William Matthews, Ph.D., president and chief executive officer of Deltagen.
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. Lexicon has LexVision(TM) collaborations with Bristol-Myers Squibb Company and Incyte Genomics, Inc.; a major antibody drug discovery alliance with Abgenix, Inc.; a major therapeutic protein drug discovery alliance with Incyte; and functional genomics collaborations with a number of leading pharmaceutical and biotechnology companies, including Abgenix, American Home Products, Boehringer Ingelheim, Johnson & Johnson, Millennium Pharmaceuticals, Inc., N.V. Organon, Pharmacia Corp. and Tularik, Inc. Additional information about the Company is available through Lexicon's corporate website, www.lexicon-genetics.com .
Deltagen is a genomic-based biotechnology company headquartered in Menlo Park, California, that provides data to pharmaceutical and biotechnology companies on the function, role and disease relevance of mammalian genes. This information may facilitate the discovery and validation of drug targets to advance the development of new genomic-based medicines. Deltagen's principal product, DeltaBase(TM) provides a database of in vivo derived, mammalian gene function information. In addition, Deltagen offers a program dedicated to determining the function of secreted proteins. Under this program, Deltagen undertakes the discovery and development of secreted protein biotechnology drug candidates internally or in collaboration with other parties. Some of Deltagen's current collaborators and research partners include GlaxoSmithKline plc, Pfizer Inc., Merck Inc., Vertex Pharmaceuticals Incorporated and Eli Lilly and Company. For more information about Deltagen, Inc. please visit www.deltagen.com . |
