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Telotristat Ethyl

Lexicon Pharmaceuticals, Inc.

Drug Names(s): LX1606, LX-1606, LX1032, Telotristat Etiprate

Description: Revenue splits are BioMedTracker estimates.

LX1032 is an orally-delivered small molecule designed to inhibit peripheral serotonin (5-HT) synthesis. Serotonin plays a role in regulating several physiologic processes of the gastrointestinal (GI) tract, including secretion, sensation and motility. LX1032 acts by inhibiting the enzyme tryptophan hydroxylase (TPH) which catalyzes the first step of serotonin synthesis.

LX1032 was specifically designed to be better absorbed into the blood stream and, therefore, capable of reducing serotonin production both inside and outside the GI tract without affecting brain serotonin levels. The target for LX1032 (TPH) is the rate-limiting enzyme involved in serotonin biosynthesis and present in metastatic carcinoid tumor cells. From research conducted in the Genome5000 program, Lexicon scientists found that mice lacking the non-neuronal form of the TPH enzyme (TPH1) have virtually no peripheral serotonin, but do maintain normal levels of brain serotonin.

Deal Structure: Lexicon and Symphony
In June 2007, Lexicon entered into a $60 million product development collaboration with Symphony Capital Partners, L.P. and its co-investors to move its first three drug candidates (including LX1032) into advanced clinical development. Under the terms of the $60 million Symphony transaction, $45 million has been provided to Symphony Icon, Inc. Through a purchase option, Lexicon retains the exclusive right, but not the obligation, to acquire 100% of the equity of Symphony Icon. If Lexicon chooses not to exercise the purchase option, Symphony Icon will retain the rights to the three programs. In exchange for the purchase option and $60 million of funding, Lexicon issued approximately 7.7 million shares of Lexicon common stock to Symphony Icons investors. The collaboration is intended to last up to four years.

In August 2010, Lexicon Pharmaceuticals announced that it exercised a restructured purchase option under its drug development financing...See full deal structure in Biomedtracker

Partners: Ipsen SA

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