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Lexicon Pharmaceuticals Announces Reacquisition of All Rights to Symphony Icon Programs
Date:8/2/2010

ngent payments, payable at Lexicon's option in cash, common stock or a combination of cash and common stock, subject to certain conditions.  The additional deferred payments, which will be due on or before July 30, 2013, will be in an amount equal to $50 million less a 50% share of the expenses Lexicon incurs for the future development of LX1031, LX1032, LX1033 and related drug candidates, subject to certain exceptions and up to an aggregate reduction of $15 million.  Lexicon may make the deferred payments in whole or in part at any time that it chooses within the payment period.  The contingent payments will consist of a 50% share of any consideration Lexicon receives from licensing LX1031, LX1032, LX1033 and related drug candidates up to a maximum of $30 million plus the amount of any reduction in the deferred payment amount.  The contingent payments will be due if and when Lexicon receives such licensing consideration.  Lexicon will make an alternative contingent payment in lieu of a share of licensing consideration in the event that Lexicon receives regulatory approval in the United States for the marketing and sale of a product resulting from such programs prior to entering into a licensing transaction for the commercialization of such product in the United States.  The total of the up-front payment and all deferred and contingent payments by Lexicon will not exceed the $90 million exercise price applicable under the terms of the purchase option that were in effect before the restructured agreement was signed.

The deferred payments and the contingent payments may be paid in cash, common stock, or a combination of cash and common stock, at Lexicon's discretion, provided that at least 50
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SOURCE Lexicon Pharmaceuticals, Inc.
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Related medicine technology :

1. Lexicon Presents Data Describing LX4211 Positive Phase 2 Clinical Results and Novel Mechanism of Action for Type 2 Diabetes
2. Lexicon Presents Positive Outcome in IBS Patients Treated With LX1031 and Data Supporting Mechanism of Action
3. Lexicon to Provide Clinical Pipeline Update and Report First Quarter 2010 Financial Results
4. Lexicon to Present at BIO International Convention
5. Lexicon to Present Phase 2 Clinical Data for IBS Drug Candidate at Digestive Disease Week
6. Lexicon Announces Proposed $95 Million Common Stock Offering
7. Lexicon to Report Fourth Quarter and Year End 2009 Financial Results on February 23, 2010
8. Lexicon Pharmaceuticals to Present at the 12th Annual BIO CEO & Investor Conference
9. Lexicon to Host Conference Call and Webcast to Review Top-Line Phase 2 Results From Diabetes Trial
10. Lexicon to Present Positive Top-Line Phase 2 Results for LX1031 in Non-Constipating Irritable Bowel Syndrome at GASTRO 2009
11. Lexicon Announces Positive Phase 2 Results of LX1031 in Non-Constipating Irritable Bowel Syndrome
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