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Lexicon in Two-Year Deal to Provide Immunex with Knockout Models

NEW YORK, July 31 – Lexicon Genetics of The Woodlands, Texas, said Tuesday it had signed a two-year deal to provide Immunex with knockout mammalian models for the pharmaceutical company’s drug development program.

In exchange, Lexicon will receive an up-front technology access fee, annual research funding, and milestone and royalty payments on products developed through the collaboration.

Lexicon did not disclose the specific financial terms of the deal.

"Our gene discovery tools have defined a number of candidate molecular targets for therapeutics," Thomas Daniel, Immunex’s senior vice president for discovery research, said in a statement.

"This collaboration with Lexicon provides a valuable approach for us to prioritize the most important of these targets through in vivo validation," he said.

The deal follows a January agreement in which Lexicon gave Immunex a multi-year, non-exclusive sublicense for the use of its patented gene targeting technology.

Lexicon receives annual license fees, as well as technology usage fees for each model developed by Immunex using the company’s gene targeting technologies. In addition, Lexicon may receive milestone payments on products stemming from Lexicon's technologies.

Lexicon has 14 sublicensees for its gene targeting technologies.