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Lexicon grants patented gene targeting technology license to GlaxoSmithkline.

Lexicon Genetics, Inc. (The Woodlands, TX; 281-863-3222) announced that it has granted to GlaxoSmithKline Plc (Greenford, England; 44 20 7 493 4060) a multi-year, non-exclusive sublicense for the use of its patented gene targeting technologies for GlaxoSmithKline's internal research programs. Under the terms of the agreement, Lexicon will receive a one-time upfront technology and license fee from GlaxoSmithKline. Specific financial terms were not disclosed.

"We are very pleased to have GlaxoSmithKline join the prestigious group of licensees to our patented gene targeting technologies," said Arthur T. Sands, M.D., Ph.D., President and Chief Executive Officer of Lexicon. "GlaxoSmithKline's license provides further affirmation that our patented gene targeting technologies are an integral resource to validate targets for drug discovery."

Lexicon is a drug discovery company of the post-genome era, using gene knockout technology to define the functions of genes for the discovery of pharmaceutical products. Lexicon is using this technology to fuel drug discovery programs in cancer, cardiovascular disease, immune disorders, neurological disease, diabetes and obesity. Lexicon has established drug discovery alli-ances and functional genomics collaborations with leading pharmaceutical and biotechnology companies, research institutes and academic institutions throughout the world to commercialize its technology and further develop its discoveries.
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Comment:Lexicon grants patented gene targeting technology license to GlaxoSmithkline.
Publication:BIOTECH Patent News
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 1, 2001
Words:199
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