Lexicon Genetics Incorporated (Nasdaq: LEXG)
announced today that the Bristol-Myers Squibb Company (NYSE:BMY) has selected certain drug
targets of potential pharmaceutical relevance contained in LexVision for use in its drug discovery
"Bristol-Myers Squibb’s request for the in vivo mammalian models representing various targets
confirms the value that the LexVision database provides for drug discovery, particularly in light of
the fact that we are in the early days of this collaboration," said Arthur T. Sands, M.D., Ph.D.,
President and Chief Executive Officer of Lexicon. "By integrating the full spectrum of in vivo
mammalian target validation information into a sophisticated relational database, LexVision
provides a consistent and highly-detailed knowledge repository that is focusing drug discovery
research on the most pharmaceutically relevant targets."
"We are very happy with the in vivo target validation information in the LexVision database and
the value it continues to deliver," said Mark Cockett, Executive Director of Functional Genomics
at Bristol-Myers Squibb. "We expect LexVision will continue to add value to our internal drug
discovery programs as we move forward in our collaboration with Lexicon."
The LexVision program was created to discover the physiologic functions and medical importance
of genes that are thought to be potential drug targets. Lexicon analyzes thousands of mouse gene
knockouts using an integrated platform of leading edge, medically-relevant tests. This state-of-the
art technology platform enables Lexicon to assess the phenotype, or physiological effects, of the
knocked-out gene across a variety of parameters relevant to human diseases such as cancer,
cardiovascular disease, immune disorders, neurological disease, diabetes and obesity. The
information resulting from this analysis is captured in the LexVision database for use by Lexicon
and its collaborators for the discovery of genomics-based pharmaceutical products.
Bristol-Myers Squibb became Lexicon’s first collaborator for the LexVision program in
September of 2000. In June 2001, Incyte Genomics, Inc. became the second collaborator to join
LexVision for its internal drug discovery efforts. Under their respective agreements, Bristol-Myers
Squibb and Incyte have access to Lexicon’s LexVision database and OmniBank library for the
discovery of small molecule drugs. Both agreements call for in vivo characterization of 250 genes
for each year and have maximum terms of five years. Lexicon may receive milestone payments and
royalties on any small molecule compounds that are ultimately developed against targets licensed
by LexVision subscribers.
As previously announced, Lexicon delivered the third installment of its database to Bristol-Myers
Squibb during the second quarter of 2001, triggering a further payment from Bristol-Myers Squibb
for its first year of access to LexVision.