B-MS extends Lexicon alliance, pays $20M

Gene-based drugmaker Lexicon Genetics says that fellow USA-based firm Bristol-Myers Squibb has extended the target discovery term of their neuroscience alliance for an additional two years. The companies initiated this alliance in December 2003 to accelerate the discovery, development and commercialization of therapies that address unmet medical needs in psychiatry and neurology.

B-MS will provide Lexicon $20.0 million in additional research funding over the two-year extended research term, which begins in January 2007. The drug target discovery portion of the alliance encompasses the physiological and behavioral analysis of genes to identify promising new neuroscience targets for the development of small-molecule drugs to treat disorders including depression, anxiety, schizophrenia, pain and Alzheimer's disease. The extended term provides for further advanced research on selected targets.

Under the original accord, B-MS worked with Lexicon on medicinal chemistry and preclinical R&D of drugs addressing promising neuroscience targets and reserved the right to clinically develop and commercialize any drugs resulting from the alliance.