THE WOODLANDS, Texas, Oct. 14, 2008 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX), a biopharmaceutical company focused on discovering and developing breakthrough treatments for human disease, announced today that the company will be presenting initial Phase 1 clinical trial results for LX2931, an orally-delivered, small molecule drug candidate for the treatment of rheumatoid arthritis and other autoimmune conditions at the annual meeting of the American College of Rheumatology in San Francisco, California. LX2931 is one of four programs in human clinical trials as part of Lexicon's 10TO10 program. Lexicon also has two additional drug candidates in formal preclinical studies.
Poster Sessions
Lexicon will be presenting two posters at the conference titled, "LX2931: A Potential Small Molecule Treatment for Autoimmune Disorders," and "Sphingosine-1-Phosphate Lyase is a Potential Therapeutic Target in Autoimmune Diseases Including Rheumatoid Arthritis." The two posters will be presented on Sunday, October 26 and Tuesday, October 28, respectively.
About Lexicon
Lexicon is a biopharmaceutical company focused on discovering and developing breakthrough treatments for human disease. Lexicon currently has six drug candidates in development for autoimmune disease, carcinoid syndrome, cognitive disorders, diabetes, glaucoma and irritable bowel syndrome, all of which were discovered by the company's research team. The company is using its proprietary gene knockout technology to characterize approximately 5,000 genes in its Genome5000(tm) program, and has discovered more than 100 promising drug targets. Lexicon has applied small molecule chemistry and antibody technology to these biologically-validated targets to create its extensive pipeline of clinical and preclinical programs. Lexicon's goal is to advance 10 drug candidates into human clinical trials by the end of 2010, the strategic objective of its 10TO10 program. For additional information about Lexicon and its programs, please visit www.lexpharma.com.
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Safe Harbor Statement
This press release contains "forward-looking statements," including statements relating to Lexicon's clinical development of LX2931 and the potential therapeutic and commercial potential of LX2931. This press release also contains forward-looking statements relating to Lexicon's growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to Lexicon's ability to successfully conduct clinical development of LX2931 and preclinical and clinical development of its other potential drug candidates, advance additional candidates into preclinical and clinical development, obtain necessary regulatory approvals, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its drug candidates, that may cause Lexicon's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under "Factors Affecting Forward-Looking Statements" and "Risk Factors" in Lexicon's annual report on Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.