Lexicon Genetics Inks Deal With Akzo Nobel

Akzo Nobel N.V. has agreed to pay $22.5 million upfront and up to $50 million over four years in research costs to Lexicon Genetics Inc. for the development and commercialization of new biotherapeutic drugs. The two companies will start by jointly selecting 300 genes that encode therapeutic proteins or antibody targets. The costs will be equally shared by both companies as will product revenues. Akzo Nobel unit Organon will have principal responsibility for the manufacture of biotherapeutic products resulting from the collaboration.

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