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Biotech / Medical : LEXG-Lexicon Genetics

LXRX 1.250

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Nov 7 9:30 AM EST

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To: JFitnich who wrote (96)	9/26/2001 8:24:46 AM
From: nigel bates	of 254

Lexicon Pharmaceuticals Sells Compound Libraries to Pfizer Inc THE WOODLANDS, Texas, Sept. 26 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG - news), announced today the sale by its Lexicon Pharmaceuticals subsidiary of chemical compounds to Pfizer Inc (NYSE: PFE - news) for non-exclusive use in Pfizer's internal drug discovery programs. Financial terms of the agreement were not disclosed. ``We believe Pfizer's acquisition of these libraries reflects the industry's favorable regard for Lexicon Pharmaceuticals' high-quality, pharmaceutically-relevant compounds as well as its expertise in developing compounds with pharmaceutical-like attributes for small molecule drug discovery,'' said Alan J. Main, Ph.D., Senior Vice President of Lexicon Pharmaceuticals. Lexicon Pharmaceuticals is the former Coelacanth Corporation, a Princeton, NJ-based company acquired by Lexicon Genetics in July, which uses proprietary chemistry technologies to rapidly discover new chemical entities for drug development....

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