FDAnews Drug Daily Bulletin

LEXICON, GENENTECH EXPAND ALLIANCE

Dec. 5, 2005
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Biopharmaceutical company Lexicon Genetics Inc. said Thursday it reached a deal with biotech giant Genetech Inc. to expand the companies' alliance into researching and developing biologic drugs. Lexicon said it will receive a total of $25 million in upfront and milestone payments and research funding during a three-year research phase of the project. Lexicon will also receive payments from Genentech as it reaches certain milestones in developing the drugs, which are called "biologic" because they are made from living organisms, and in getting regulatory approval of them.

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