Bristol-Myers Squibb has given the research, development, and commercialization rights to LX9211 (BMS-986176), an orally administered small molecule being developed to treat neuropathic pain that the company is jointly developing with Lexicon Pharmaceuticals, a biopharmaceutical company headquartered in The Woodlands, Texas, to Lexicon as part of their neuroscience drug-discovery alliance. Additional small-molecule compounds acting through the same target as LX9211 are also included in the exclusive arrangement. LX9211 is currently completing investigational new drug-enabling studies, with Phase I clinical trials anticipated to start in 2017.

BMS and Lexicon established a drug-discovery alliance in December 2003 to discover, develop, and commercialize small-molecule drugs in the neuroscience field. Lexicon initiated the alliance with a number of neuroscience drug-discovery programs at various stages of development and used its gene knockout technologies to identify additional drug targets. For those targets that were validated and selected within the alliance, BMS and Lexicon have been working together exclusively to discover, characterize, and carry out the nonclinical development of small-molecule drug candidates. They have shared equally both in the costs and in the work. Lexicon received $86 million in upfront payments and research funding under the agreement during the target discovery portion of the alliance, which expired in October 2009.

Lexicon has acquired the rights to LX9211 under an amendment to the neuroscience alliance, under which Lexicon has agreed to pay BMS development and regulatory milestones starting with the commencement of the first Phase II clinical trial in the first indication. Lexicon has agreed to pay additional development and regulatory milestones for each of the second and third indications, if applicable. Finally, Lexicon has agreed to pay royalties on worldwide net sales of small molecules related to the alliance that act through the target of LX9211 as well as certain sales performance milestones.

Source: Lexicon Pharmaceuticals