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Biotech / Medical : XOMA. Bull or Bear?

XOMA 34.50

+2.7%

Nov 11 3:59 PM EST

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From: bob zagorin	6/22/2005 10:43:18 AM
	of 17367

bizjournals.com XOMA, Lexicon Genetics ink research pact Tuesday June 21, 12:31 pm ET Berkeley's XOMA Ltd. said Tuesday it signed a research deal with Texas company Lexicon Genetics Inc. to make and sell antibody drugs. XOMA will make antibodies to test against drug targets discovered by Lexicon, which is based in The Woodlands. The deal is set for three years, though it could be extended. Lexicon will get 65 percent of any profits and will bear 65 percent of the costs of the research, while XOMA (NASDAQ:XOMA - News) will take the rest. The first target chosen by the two companies is one that might be useful in treating type II diabetes, as well as obesity. As part of the deal, Lexicon has promised to provide at least two other targets during the three year period. Lexicon signed a similar deal Monday with Odyssey Thera in San Ramon.

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