Lexicon Pharmaceutical [NASDAQ: LXRX] reports that the pharmaceutical company has signed a partnership with AC biosciences. It will empower the utilization of clinical information by AC biosciences for LX2931 without permitting any license under any of Lexicon’s patent rights for the compound. The LX2931 molecule is actively not in development at the company. Moreover, It is a small molecule that inhibits S1P lyse.
“Following our shift around the rapid improvement and development of the LX9211 program we keep on assessing our pipeline. After the assessment we decide the best method to propel our expansive library of compounds and targets.” said Praveen VP of R&D. Furthermore, “We are glad to team up with AC Bioscience. To enhance their attempts around S1P and anticipate learning additional info about this fascinating pathway.”
Under contract terms, the lexicon will receive an upfront payment. Moreover, it is entitled to receive installments payments adding up to $5.3 Million