Lexicon Genetics Inc., Bristol-Myers deal
The companies partnered to develop small molecules against targets supplied by LEXG. The companies will focus on depression, anxiety, schizophrenia, pain and Alzheimer's disease (AD). LEXG will contribute 13 discovery programs and exclusive access to future targets from its Genome5000 discovery program. The companies will equally share preclinical research costs. BMY has the first option to assume responsibility for clinical development and commercialization of compounds. Each company will pay for the clinical development and commercialization of the compounds it selects for itself. LEXG will receive $36 million up front and at least $30 million in research funding over three years, plus milestones and royalties. BMY may extend the discovery portion of the deal for two years for another $50 million in research funding. LEXG is eligible for $76 million in milestones for compounds developed against each target, plus double-digit royalties. ...