LXRX - Lexicon Pharmaceuticals inks data collaboration with AC Bioscience

Lexicon Pharmaceuticals (LXRX) +3% AH, entered a collaboration enabling the use by AC Bioscience LTD of preclinical and clinical data for LX2931 without granting any right or license under any of Lexicon's patent rights for the compound.Under agreement terms, Lexicon will receive an upfront payment and is eligible to receive milestone payments totaling up to $5.3M in the aggregate.LX2931 is a small molecule sphingosine-1-phosphate lyase inhibitor that is currently not in active development at Lexicon."In line with our realignment around the rapid development of the LX9211 program, we continue to evaluate our pipeline and determine the most effective way to advance our broad library of compounds and targets," EVP, research and development commented.

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Lexicon Pharmaceuticals inks data collaboration with AC Bioscience