LXRX - Lexicon shares climb on collaboration with AC Bioscience

Lexicon Pharmaceuticals (LXRX) collaborates to enable the use by AC Bioscience of preclinical and clinical data for LX2931 without granting any right or license under any of Lexicon’s patent rights for the compound. LX2931 is a small molecule sphingosine-1-phosphate (or S1P) lyase inhibitor that is currently not in active development at Lexicon.Under the terms of the agreement, company will receive an upfront payment and is eligible to receive milestone payments totaling up to $5.3M in the aggregate.“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. We are pleased to collaborate with AC Bioscience to accelerate their efforts around S1P and look forward to learning additional information about this potentially interesting pathway.” said Praveen Tyle, Ph.D., executive VP of research and development. Quick look at contributor analysis 'Lexicon shares have shot higher

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Lexicon shares climb on collaboration with AC Bioscience